Five Project Management Trends shaping 2018
2. Portfolio prioritisation & work management
Greater emphasis is being placed on aligning the project portfolio with the amount of available time and resource. How many people an organisation has, is crucial to determining the ideal scope of the portfolio to ensure efficiency is optimised. Traditionally, many businesses and project teams have failed at this hurdle, trying to take on too much work without having considered the amount of available resource. According to Wellingtone’s ‘The State of Project Management Report 2017’, only 37% of projects were delivered on time last year.
3. Remote teams
With workplace culture rapidly changing and a new generation of millenials now making their debut, many as project managers, remote teams are becoming more common place. Technology is also a facilitating factor in this project management trend, making it easier for teams to work collaboratively in different locations. As a result, cloud based software that allows for team collaboration is becoming more and more essential and companies that embrace this will reap the benefits of more efficient project management and better employee satisfaction.
4. Agile project management
Construction and property companies of all sizes are beginning to adopt the Agile development methodology, which has been shown to improve team collaboration and ultimately return on investment. Unlike the other trends in this list, Agile project management is being adopted by smaller businesses first, which are able to update legacy processes more quickly than larger or more established organisations.
Technology is again a facilitating factor in the emergence of agile project management. The ability to measure and automate metrics such as Level of Effort (LOE) and automatically assign tasks based on workload, among other metrics, is on the horizon and could be further improved with artificial intelligence and machine learning.
5. Enterprise-wide Project Management Offices
The proliferation of Project Management Offices (PMOs) and Enterprise-wide Project Management Offices (EPMOs) looks set to accelerate in 2018. Standardising the way projects are run is becoming more crucial and part of the role of the EPMO is to achieve consistency across projects.
According to PMI’s Pulse of the Profession 2017, organisations that align their EPMO with strategy report:
– 38% more projects meet their original goals and business intent
– 33% fewer projects are deemed failures
The EPMO is also responsible for process improvement and change management, making it likely to greatly improve the adoption of agile methodology within project teams.
Across the board, we are seeing unprecedented rates of change in how organisations approach project management. Legacy processes are rapidly being updated as technology and a workplace culture shift proliferates. As with any other type of change, there are huge opportunities for companies willing to adapt and embrace the benefits that come with updates in technology, processes and culture.