5 Global Trends in Project Management that You Should be on a Lookout For

Business setups have become complex. The requirements, threats solutions, and execution now face variables that were not in the picture a couple of decades ago. So, it does not come as a shock that the means to tackle them have become more intricate as well. Project management has evolved. It has evolved to an extent where it no longer can be visualized as a single set process but has branched out and is becoming more complex by the hour.  

While you might have witnessed the subtle shift as an experienced professional in project management or might have been born into the changing dynamics as a fresher starting his career, it is important to identify and acknowledge the trend shift. In this article, we will identify a couple of changing trends in the Project Management spectrum and discuss what you can do in order to stay tuned with these shifts.

1. Expanding Automation and engagement of Artificial Intelligence

With the increase in the number of variables, it becomes difficult to monitor all of them on a regular basis. Owing to this, Automation is being used extensively to monitor these variables and AI is being used to deduce appropriate actions. The use of AI and machine learning basically helps you free up space for you to attend to other important aspects of projects. In the current scenario, automation is radially taking up small tasks like setting up alerts for business meetings, sending an initial response based on multiple triggers like a greeting message to a new client visiting your website for the first time. While automation is taking off small tasks from your plate AI is gaining momentum is improving the responses. For example, in digital products and services spectrum, AI algorithms are being used to tailor companies’ products and services in real-time to suit the needs of the customers. AI also has the potential of assisting in the prioritization of tasks and allocation of resources. AI bots are now capable of running the simulations and delivering optimized scheduling and allocation of recourses in real-time, adding to the adaptability of processes.

Another area where automation and machine learning is finding utility is the collection of data and data analysis. AI research teams are developing machine learning systems capable of augmenting a project manager’s decision-making ability based on the observations of other projects. All of these make Automation, AI and machine learning key players in project management spectrum in the coming years.  

What do you need to do?

Acceptance is the initial step. The use of these tools can help you clear out space for you to indulge in more human-powered relationships with your team and clients. You can start small with your emails. You can sort your inbox based on multiple filters that will keep emails from your clients and employees separate and offer much better inbox management. While this was a very small example, you can also:

1. Automate scheduling, resource allocation and invoicing through various project management tools.

2. Identify bottlenecks and eliminate them. You can allocate AI to monitor the process and identify bottlenecks.

2. The advent of the hybrid approach

Agile is no longer a new concept. It is being used extensively in various organizations. The waterfall approach is being alienated from a lot of areas. However, both agile, waterfall along with other methodologies might not produce the best result individually. The Hybrid Approach has shown great prospects and organizations are drifting towards a combination of these methodologies during the lifecycle of a project. However, the application of these methods in an optimal way remains tricky.