Trends in Project Management Are Here to Stay!

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Project management is crucial for providing leadership, vision, inspiration, removing bottlenecks, mentoring, and inspiring the team to achieve their best job. It includes the planning and organization of a company’s resources to complete a given activity, event, or responsibility. This might be a one-time initiative or an ongoing endeavor, with resources such as employees, finances, technology, and intellectual property controlled. In retrospect, several of the following project management practices will continue to become more prevalent and useful in the future:

Artificial Intelligence

  • AI benefits businesses by automating repetitive operations throughout an organization, freeing up people’ time to focus on innovative solutions, complex problem solving, and impactful work.
  • It has also enhanced organizational efficiency by making many laborious processes easier to do and has been helpful in increasing employee productivity.

To commemorate the country’s 50th anniversary, the UAE unveiled 50 new initiatives in which AI would play a significant role. Furthermore, according to a new Gartner estimate, by the end of 2022, one in every five workers engaged in largely non-routine jobs would rely on Artificial Intelligence to complete their work.

Here are some more reasons why companies are adapting AI:

Hybrid Project Management:

  • Hybrid project management combines two (or more) existing project management approaches to form an altogether new method.
  • This enables project managers to capitalize on the strengths of their selected methodologies while avoiding their flaws or potential pitfalls.
  • Hybrid Project management will thrive as team members with diverse perspectives and working styles are encouraged to collaborate in order to generate more stability, engagement, and efficiency.

Data Analytics.

  • Data analytics assists organizations in optimizing their performance, making better business decisions, and analyzing consumer patterns and satisfaction, which may lead to the development of new—and better—products and services.
  • Data analytics will continue to be a dominant trend in the next years since it is essential for increasing productivity, efficiency, and revenue growth. Analytics provides an accurate view of prices, budgets, and schedules. This also assists managers in developing the appropriate processes and tools for identifying, analyzing, prioritizing, and monitoring possible risks, as well as developing strong risk response strategies. Cost-effectiveness is raised whenever areas that are needlessly hogging a company’s funds are discovered, and decisions are taken about technology that could be put in place to minimize operational and production expenses.

Emotional Intelligence.

  • Understanding people is the most fundamental task in order to achieve success, and this can only be achieved through Emotional Intelligence.
  • Emotional Intelligence encourages people to identify their weaknesses and helps in communication, as well as their ability to connect and empathize with others.
  • A study by Telesmart states that 58% of respondents believe that emotional intelligence is one of the strongest predictors of performance irrespective of the nature of your job.
  • Hence trend will continue to grow further as people continue to understand the importance of social skills such as self-awareness, self–regulation, motivation, etc.

Remote Work.

  • While the ability to work from outside of a corporate office has been possible for a few decades, working remotely is just now becoming a widespread practice. This trend will continue to develop owing to the numerous benefits it provides.
  • The average worker in the United States spends 53.2 minutes per day traveling to work, yet remote work from home effectively eliminates this time.
  • Overall, remote employees have more time for personal affairs, which promotes improved work-life balance, increased productivity, and the potential to live healthier lifestyles.
  • As a result, it increases employee engagement, resulting in better employee experiences and better business outcomes. As a result, remote working is expected to continue in the near future.

References

https://www.investopedia.com/terms/p/project-management.asp

https://thedigitalprojectmanager.com/why-is-project-management-important/

By 2022, 1 in 5 workers will rely on AI to do their job

3 Surprising Benefits of Artificial Intelligence in the Workplace

https://www.wrike.com/blog/what-hybrid-project-management/

https://www.mbopartners.com/blog/how-manage-small-business/why-are-soft-skills-important/

Soft Skills for 2022 that Employers Require

https://www.indeed.com/career-advice/career-development/emotional-intelligence-importance

https://www.verywellmind.com/what-is-emotional-intelligence-2795423.

https://www.ringcentral.com/us/en/blog/what-is-remote-work-why-is-it-important-for-business/

https://www.forbes.com/sites/louiscolumbus/2018/01/12/10-charts-that-will-change-your-perspective-on-artificial-intelligences-growth/?sh=3b6b736c4758

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