Numerous options like automated tools for the betterment of daily operations seem to be thrusting businesses towards indefinite progress. So, do project management trends help in any kind of progressive activity?
Project management, as a practice that involves planning, execution, and further management ahead of achieving goals of a project within the stipulated time in an efficient manner with the least expenditure, is also part of that transformation. An improved approach like better team control and time tracking tools are some examples of the project management trends that companies have been utilizing.
10 Project Management Trends You Must Know in 2019
Now, what if you miss out on such trends or practices for project management? Continue reading to familiarize yourself with these top ten project management trends.
1. Internet of Things (IoT)
Here comes the first and most observed trend i.e. the Internet of Things (IoT). Many industries including farming, healthcare, and retail are being transformed through IoT. Collecting live data from crops and livestock, MRI machines, and smart meters are some examples of their uses. It allows communicating with resources available at longer distances or beyond reach. The obvious benefit being time-saving, it makes it easy to manage huge projects with ease. In addition, Microsoft has announced an investment of 5 billion USD globally in the next 3 years.
2. Machine intelligence
Newer technologies like machine intelligence or Artificial intelligence (AI), is no doubt going to be the most dominating concept in coming years and forever thereafter. It plays a major role in paving the society towards the fourth industrial revolution.
But, what is the use of AI into project-based industries? Do project managers need it? Absolutely! In decision-making for example to make more accurate decisions. Risk management, resource management, and KPIs are some applications of AI in the project management industry. Machine predicting and analysis along with a project manager (a human) can bring the much-needed change.
3. Task automation
Technology like industrial automation will be a boon to the industry. Automating your tasks through algorithms makes it easy to conclude with projects faster. Automation tends to handle hectic and repeated tasks easily.
In project management, machines perform minor and routine tasks that require less decision-making capability and humans handle the rest of the job requiring higher decisions. Semi automation is the new era of project automation.
4. Workforce development
There are also some internal trends and improvements: workforce development. A better workforce with well-equipped skills and understanding can bring in the mandatory changes to management. Thinking too much for better customer service practices have become outdated. Now, companies are seen as investing in employee training programmes. Eyeing towards a better workforce can be a good thought and can bring unexpected and unseen advantages at your feet.
5. Soft skills
Skill or the quality that helps one to communicate effectively with power to influence is what we call a ‘soft skill’. People’s skills are one of the most wanted traits in an employee. A warm handshake, looking into eyes creates greater impact. Therefore, it is something that needs to be mandated in employee training.
6. Remote working
People with the wish to work remotely are abundant. In fact, everyone wants to work from his or her preferred remote area. Thanks to technology, remote working can be easily done and the most concerned parameter attendance, it’s no longer a concern. Why? Workers can now punch in and out through the provided self-service portals available on their cell phones.
In addition, benefits like no need to travel, no administrative costs, etc. make remote working a significant activity while handling agile projects.
7. Biometric attendance
Marking yourself ‘present’ through a biometric mean like face recognition, thumb impression, iris recognition, etc. comes under biometric attendance. To eliminate the need for paper-based work and counting heads or workers, businesses look for such developments. Talking about the nation, because of the ‘Digital India’ move, there has been a huge acceptance of the digital attendance process at offices. It also saves your real money on ghost-workers.
8. Reporting & analytics
Amid performing huge projects that demand time and too many processes back to back, requires an eye on workflow to actually keep the project running and stay updated on the progress. Industries are looking for a tool that could keep project managers updated on the workflow.
Time tracking software is one of them. Smart reporting and flexible timesheets make it very suitable for having a good analysis of the whole project.
9. Digital transformation
What does it mean to get digitalised? To transform your entire business into digital means having all your resources and data available to you through an electronic medium or platform. Making use of all your data is key for businesses these days. Moving away from paper-based processes, means an increase in the usage of cloud-based platforms. Decisions can be taken faster because data is easily accessible online. Accurate data will be the prime asset for industries in the near future.
10. Time versus Money
Time is obviously a very important factor for any success and greater than money. Whether it is achieving any personal goals or finishing projects, completion of your goals on time is mandatory. But If you run out money, you might also end up failing.
Remember that time is everything. Time is money.
This is a foolproof list of the top 10 project management trends. If these trends get implemented successfully in your business you’ll be on the road towards a brighter future. They will transform the entire project-based industries in 2019 and beyond.