Table of contents
- 1. Utilizing Automation and Artificial Intelligence (AI)
- 2. Incorporating Hybrid Project Management Methodology
- 3. Adopting Modern Project Management Resources and Technologies
- 4. Placing Greater Emphasis on Statistics and Data Analysis
- 5. Increasing Remote Workplaces
- 6. Using the Cloud-First Approach
- 7. Bringing Projects and Corporate Strategy Together
- 8. Understanding the Significance of Emotional Intelligence (EQ)
- How Integent Helps Organizations Keep Up with Project Management Trends
- Related Links
Project management remains a crucial topic as organizations of all sizes continue to implement new initiatives. These initiatives could include launching a public relations promotion campaign; developing a new product or service; starting a significant construction project; or starting a new production line for a manufacturer.
The implementation of project management strategies and information management systems allows for corporate teams to collaborate in establishing and managing go-to-market projects by synchronizing collaborative tasks, timetables, and resource allocations. This, in turn, creates the opportunity for cross-functional teams to produce and exchange project data.
Keeping up with the latest trends in project management is key to acing any project. This article uncovers the top eight project management trends to stay ahead of the curve in 2022.
1. Utilizing Automation and Artificial Intelligence (AI)
Every project manager knows how deadlines can be accelerated, either as a result of inaccurate estimation or unforeseen external variables. With artificial intelligence, it has become easy to accurately estimate a project's length, expenses, and progress. It also assists in predicting realistic project timetables.
According to 81% of the experts surveyed by the Project Management Institute, AI is having a significant effect on their operations. This percentage is expected to rise even higher in a few years.
Project managers can exert more influence and work on activities that will most significantly benefit their companies by automating low-value-add processes. This will enable them to have a bigger impact and increase the likelihood that each project will achieve its strategic goals.
In recent years, corporations have adopted AI on a broader scale to assure effective project completion in a variety of ways, including:
- Generating Progress Insights
- Aiding in decision-making practices
- Estimating and forecasting
- Improving resource allocation
- Making data visualization possible
- Carrying out risk analysis
Many businesses have already started automating daily operations that need human effort using AI in project management. The impact goes beyond automating straightforward operations and is very beneficial for gathering performance metrics.
2. Incorporating Hybrid Project Management Methodology
The key to successful project management lies in understanding which methodology will work best for each individual project, and then having the flexibility to adjust and change as needed for the project team. That's when hybrid work in project management comes into play.
By definition, hybrid project management is the combination of two or more project management approaches, with the aim of taking the best aspects of each to create a customized solution that fits the specific needs of the project.
Hybrid models give project managers a way to centralize all of their activities and information so that they can make better business decisions.
For instance, team members with different viewpoints and working styles can interact in their own special ways by combining the conventional methods with the Agile methodology, which can improve steadiness, commitment, and productivity.
3. Adopting Modern Project Management Resources and Technologies
In today's fast-paced and constantly-evolving business landscape, project management digital tools and technologies have become increasingly important. Multiple studies reveal that 77 percent of the best performing projects utilize project management software to design, implement, and monitor every step of the project management process.
According to a 2020 study by Wellingtone, over a third of businesses spend more than a day gathering data, and 54% don't have access to real-time KPIs for their initiatives. This demonstrates how project management technologies and soft skills cannot be disregarded any longer.
Regardless of how complicated a project is, when incorporated with AI-based automation capabilities, project management tools may positively impact how a company manages its projects.
Check out some of the ways that these technologies are improving project management:
- Project design: leverages insights from past projects to improve planning
- Time tracking and scheduling: monitors time spent on operations and controls appointments. Stay on top of scheduling changes.
- presentations, timelines, Gantt charts, and milestones
- Communication and collaboration: give employees, clients, and stakeholders the ability to easily share crucial information.
- Expenses and deadlines: aid in project completion within the budget allotted
- Progress monitoring: Keep track of ongoing projects to see whether they are on schedule and whether resources need to be altered. Adjust project plans as needed.
4. Placing Greater Emphasis on Statistics and Data Analysis
Project management involves a great deal of numbers and data. Project managers are using data insights more frequently now to guide their decisions, improve the management of projects, and spur corporate expansion.
The use of big data analysis continues to transform the project management field, be it in the planning phase, quality assurance, or risk estimation. The data collected assists with team formation, team size, member inclusion and placement, and the skill sets required for improved project management.
Savvy and knowledgeable project managers make use of innovative technologies to remain relevant. When applied properly, data analytics has the potential to add significantly to the value of a company's operations.
5. Increasing Remote Workplaces
An increase in the number of people who choose to work from home isn't really breaking news these days, and the trend isn't going anywhere. Hybrid work and remote teams are now commonplace, especially in project management.
Even though remote work was already becoming more popular, its adoption has reached previously unheard-of heights in recent years. Despite the fact that the global pandemic forced businesses to adopt telecommuting for safety reasons, it is probable that this practice will continue for a long time.
For hybrid or remote workforces, cloud-based project management software can be quickly implemented internationally, enabling them to efficiently keep on top of their duties and projects as well as continue solid team building practices. Regardless of shift timings and locations, the program can gather all the pertinent data that must be recorded, checked, and used by project managers to make better educated choices in real time.
6. Using the Cloud-First Approach
Many businesses are moving to the cloud to remain up to date with the changing nature of their business. Organizations are seeking cost-effective strategies that don't compromise functionality or performance in order to enhance their operations. That's why cloud computing is the best option.
In addition, the emergence of hybrid and remote working environments has drawn attention to cloud solutions since they allow professionals to work from anywhere without losing access to important business applications. Aside from being more accessible and versatile, cloud solutions have also gotten a lot easier to use.
A cloud-first strategy is quite likely to become the new norm for managing projects wisely for enterprises globally, given all these changes.
7. Bringing Projects and Corporate Strategy Together
Organizational strategy and projects have historically been two distinct fields. Initially, a project manager's sole responsibility was to see a project through to completion. But modern developments in project management indicate that this function is currently being widened. Project managers are becoming more actively involved in carrying out the overall organizational plan.
This makes sense considering that businesses have struggled to implement their strategies and take action as a result. Because of this, project managers are being expected to concentrate more on comprehending the connection between project management, portfolio, and program.
This enables a company to understand the connections between various initiatives and how they relate to the business's broader strategic objectives.
8. Understanding the Significance of Emotional Intelligence (EQ)
While project managers need to be organized and have analytical skills, emotional intelligence has been more and more in demand in recent years. The World Economic Forum's Future of Jobs research confirms that companies are placing a greater emphasis on social skills and emotional intelligence.
This is important for project managers to know since, at the core of what they do, they need to have a profound grasp of people.
In order to lead initiatives to success, project managers have to first take the time to understand their personnel to better manage them. One of the main project management trends, the increase in remote working, has made the capacity to relate to and sympathize with people even more crucial.
A thorough knowledge of emotions is essential to managing different personalities and guaranteeing project success, making it a crucial leadership quality for project managers around the world.
Understanding the psychology of emotions and what motivates individuals is therefore more crucial than ever for predicting future project success.
How Integent Helps Organizations Keep Up with Project Management Trends
When their solution needs training, support, or consultancy, they contact Integent. For project management, communication processes, and customer relationship management, Microsoft is usually the go-to company for most businesses.
The team of specialists at Integent is made up of committed professionals that are convinced of the value of Microsoft Solutions. They are dedicated to offering unique solutions that will facilitate organizational operations, maximize returns on investment, and guarantee the effectiveness of Microsoft technologies.
Integent is familiar with the hurdles and can support success no matter where the business is on the continuum – from a first-time corporate user to a long-time user with numerous installations and necessary services. The strength of Integent lies in its employees, who provide courses, advice, and support.
Browse through Integent's resources and services to find the perfect solution for all your organizational and project management needs.