As a project management software company in existence for the last 15 years, we have been fortunate to have front row seats to the evolution of the Project Management discipline. From the rise of social project management to the significance of collaboration and management reporting, we have seen Project Management rise above the mundane and have imbibed it into our product philosophy. But this article is not about the past; this is about the year ahead. Let’s talk about the key project management trends for 2017.
Design thinking in Project Management
Design thinking has gained a lot of significance over the last few years; from product design to consulting to HR, design thinking has found its way into the mainstream business environment. It helps companies get a better understanding of customer needs and behavior, thereby helping them create a better product and customer experience. There has been a lot of discussion about design thinking in project management and we think it’s time for project management to get an outside-in view as well. Introducing design thinking in project management enables a better understanding of the business needs, more room for evolutionary thinking and a more structured approach to problem-solving. Design thinking also brings in a more people-centric philosophy to decision making by improving collaboration, creativity, and culture. Adopting design thinking can have a positive impact on project scoping, planning, communication and measurement. Project Managers of the world, gear up for Design Thinking!
Rise of Women in Project Management Leadership roles
According to a study by Catalyst.org in 2015, women held 51.5% of management, professional and related positions. These numbers tell a good gender diversity story. A study on gender diversity by Marcus Noland, Tyler Moran, and Barbara Kotschwar for the Peterson Institute for International Economics released earlier this year says there is a positive correlation between the presence of women in corporate leadership and performance “in a magnitude that is not small.” “Companies in the MSCI World Index with strong female leadership generated a Return on Equity of 10.1% per year versus 7.4% for those without,” the study states. (Source: Business Insider). With project management positions becoming an integral part of the management career path, we expect to see a rise in the number of women taking up project leadership positions. More power to them!
Impact of IoT on Project Management
With the IoT buzz gaining momentum, companies are scampering to get on the bandwagon. From Wearables to smart homes to self-driving cars, we are increasingly moving towards an interconnected world. The most notable impact of IoT on project management will be the nature of projects itself. The volumes of data, the technologies used and the project management approach will be very different from traditional software development projects. Project managers will need to adapt to alternate ways of scoping, planning, team dynamics and measurement.
All-in-one PM tools will see increased adoption
According to a report by Software Advice, (read IT Industry outlook for Project Management Tools Adoption) a number of companies are still using either manual methods or a combination of manual methods and tools for project management. IT Project failure rates had increased by over 23% in 2015 (Source: Innotas). Project management software are no more a question of choice. They play a critical role in all aspects of project management, right from scoping to planning to collaboration to reporting. The adoption of all-in-one project management tools is already on the rise and 2017 will see these numbers go up significantly.
Project Management is still about people
The significance of technology and data in project management has increased significantly in the last few years and this has led to the undermining of the human component of project management. With millennials coming into workforce and teams spread across locations and time zones, companies are starting to change their people outlook. HR analytics will become an important tool for companies to engage and retain workforce and build capability. This is one trend that will remain significant for decades to come. Intelligence is a human ability and hopefully, it will remain that way!
As we look ahead into 2017, we are excited about the promise it holds for project management. We will keep bringing you some of the best thought leadership and insights through the year. Happy New Year folks!
Celoxis is an enterprise class project management and PPM tool that helps companies streamline management of projects, timesheets, expenses and business processes, specific to their organization. Over the last decade, Celoxis has specialized in delivering improved collaboration and increased efficiency for Enterprises globally, across Industry verticals. To know more visit www.celoxis.com