“Every company strives to stay at the curve, but the one who is adaptive to the latest trends wins the league.” The sphere of project management never rests. Advanced techniques, new methods, solutions, and approaches transform the existing project management tools constantly. Most people have a mentality that project management is not facing major developments. But they are wrong! Continuous project management is impacting your clients, your teams, and the way you deal with your business approaches. So, it’s imperative that everyone should be aware of the latest trends in project management. Top Project Management Trends will drive companies with better ideas, better innovation, and a subtle environment. It’ll create a booming improvement in the business by incorporating advanced Project Management trends.

Table of Content

• Internet of Things and its impact on Project Management
• Machine Learning and Artificial Intelligence
• Data-Driven Presentations
• Cross-Company Collaborations
• Enhanced Soft Skills
• Project Management Office
• Advanced Cyber Security
• Risk Management
• Increasingly Competitive Environment
• Public\Open Source Problem Solving
• Wrapping Up

Internet of Things (IoT) and its impact on Project Management

Generally, IoT is a globally connected network of devices that are sharing information on the internet. The interesting thing is that IoT is affecting project management on a huge scale. The major advantage of IoT is less manual effort.

All the interlinked devices sense their surroundings automatically. So there is no manual intervention needed. We can’t deny that IoT is one of the major players of project management trends in 2019. Therefore, it assists businesses in lowering operating costs, increasing response time, and minimization of errors.

Along with this, you get the accessibility to render your customers better services and better outcomes.

Advantages of incorporating IoT project management trends to your business:

• You can view in-depth data analytics with the Internet of Things (IoT)
• Hyperspeed reporting is only possible with IoT
• Better management and organization of project data
• Comprehensive control over every process

Machine Learning and AI (Artificial Intelligence)

Most of you will be thinking that AI was also a grossing trend in the year 2018? Yes, AI was a grossing trend last year, but it is unstoppable! The potential in machine learning and AI is so vast that they have made their place in 2019 as well. The continuous research in artificial intelligence is unveiling its extra benefits. That’s the reason we have incorporated AI and ML into the trends of 2019.

Currently, AI is the talk of the town. Most of the giant business ventures are utilizing artificial intelligence technology for smooth and quick project management. There are a plethora of smart applications associated with project management.

Artificial Intelligence-based project management software tools add a robust essence of increased productivity in the project outcomes. The advantages of AI are not only limited to this. Also, it is capable of leveraging various insights and suggestions for the betterment of project management. These suggestions are algorithm-based, which adds booming efficiency to the overall project.

Here is something you should do:

• Try to sort out the bottlenecks of AI
• Verify the decision making with algorithm-based technologies

Data-Driven Presentations

Modern business is not just about tracking the progress and planning projects. Project managers are scrutinizing for various tools that can help them with advanced data presentation and analytics. These advanced tools also help in the seamless management of the project.

In recent years, we have encountered several project management software tools that promised to display the data in a better form. Such tools are still available, but the scope of improvement is huge.

The year 2019 has brought some advanced tools that focus on data-driven presentations. It has a major advantage over other tools because there is an option for manipulating.

Manipulation of data according to the need can be fruitful, if done properly. And we all know that a presentation that is backed up by real-time data will surely help in better project management and decent outcomes.

Here is something you should do:

• Learn how to mold the data as per your requirements
• Stay up-to-date with the industrial and most advanced data visualization tools.
• Utilize data in effective ways to maintain progress and avoid risks.

Cross-Company Collaboration

Many companies have switched to cross-company collaboration after knowing the real benefits. It works similarly, just like your company works with contractors and vendors. Business organizations are following a collaborative approach to implement services and share data.

Modern customers need unique ideas, and that is only possible with robust brainstorming. Companies can collaborate with other ventures to help them in sorting the real challenges. It saves time and, most significantly, a lot of money.

You can set collaborative approaches while making sure that there is no harm to the confidential information. Many companies in UAE are assisting business organizations to set collaborate with other companies in a strong and resolved manner.

Here is something you should do:

• Collaborate with companies that have a robust background.
• Do not enroll in multiple collaborations at once.

Enhanced soft skills

The other phase of Artificial Intelligence is Emotional Intelligence. Artificially trained machines can do wonders in learning and displaying information. But a major thing they lack is emotions and humanity.

Some soft skills like teaching, negotiation, and coordination have increased value. As per a survey report, the most difficult job skill by 2020 will be “perfect social skills.”

Machines have nil social skills; they are not capable of handling new situations on their own. So you need to invest in your employees for the development of social skills. You should hire professional trainers that are capable of conducting professional conferences. These conferences can help employees with insight and better know-how of how to implement things.

You cannot rely on AI totally; your employees contribute a lot towards successful Project Management.

Here is something you should do:

• Educate your employees about the role of Emotional Intelligence.
• Conduct seminars and interviews with soft skills trainers

Project Management Office (PMO)

The Project Management Office, which is commonly known as PMO, has the capabilities to satisfy pre-defined objectives and goals of the company. PMO bridges the gap between high-level strategies and effective implementation of the project. This reason is enough why PMOs have achieved colossal popularity in a small period of time.

As per a report submitted in the last year, more than 40% of the projects were able to satisfy the defined objectives. It is only possible due to the exact and efficient use of PMOs. This case study was when compared with recent cases; it was clear that PMO makes a huge difference.

Here is something you should do:

• Briefly study the policies associated with PMO.
• Determine the project management methodologies and identify the best standards.

Advanced Cyber-security

Cybersecurity is always a major threat to Project Management. Some companies fail to maintain security, and that’s why their projects cost more and deliver less. With the major advancements on the internet, it has become indispensable to cope up with cyber threats. Unfortunately, you will not be able to meet the project requirements. Unless your organization is securing the project data with a high-rated firewall, which promises to secure confidential data.

Therefore, we cannot deny that data breaches are the reasons for our major faults and open spaces. But once you are able to secure the data from online threats, you can rest assured that the project will complete the deadline and everything will go in the right flow. Cyber-attacks are growing at an alarming rate. All companies which are into project management should adopt a plethora of preventive measures. Further, this will help in making sure that they will not be the next target of a cyber-attack.

Here is something you should do:

• Get additional help from cyber-security agencies
• Block all possible spaces that can attract a cyber-attack.

Risk Management

Modern projects feature some of the most complex and risky structures. With time, the design of project management has taken a new shape. Things are not the same anymore as they were before a few years. Project Management has become much more agile and prone to some risks. So it becomes critical to ensure that an organization is capable of dealing with any futuristic risks.

For years now, project management incorporates resource management and critical chain analysis. These are the two most crucial factors that affect project management on a massive scale. Only a critical chain helps in evaluating risks. On the other hand, resources were used to cover analytics.

But in the present time, critical chain methodology has no significance over agile methodologies. Everyone wants continuous and on-time deliveries. So, the critical chain process stands in no place. In some project cases, it’s impossible to deploy the critical chain method. Hence, without the critical chain, the only way left is through resource management. And that’s not enough!

A project is much more than just resources. Advanced projects are hard to handle because of their project structure. There can be certain unexpected changes that can give birth to vast gaps. Only the resources cannot fill these gaps.

What to do now? What are the advanced methodologies and techniques that can help?

Besides, a plethora of companies in the UAE is rendering advanced risk management services. Also, these services have a proven track record of benefits for effective and efficient project management.

Here is something you should do:

• Scrutinize the possible risk that can damage the project’s infrastructure.
• Opt for risk management services

Increasingly Competitive Environment

The margins for Project Management agencies have sipped a step below due to enormous growth in the digital industry. Smaller agencies agree to work in shorter budgets, while the larger ones are stuck to higher prices. It creates a narrow price gap, and clients get inclined towards agencies with shorter budgets.

In this competitive atmosphere, price margins are fluctuating. For long-lasting presence and survival, PM companies need to transform their skills. Accordingly, customers are not showing interest in one-stop-solution zones; they need companies that are perfect in a significant digital niche.

Here is something you should do:

• Train your teams with the most advanced project management methodologies (If possible, call up Project Management specialists).
• Take out the best from your project resources.
• Shift your focus on the bleeding edge and make sure to embrace it at the earliest.
• Develop expertise that helps your agency to stand out from the crowd.

Public/Open Source Problem Solving

A Project Management trend that is delivering response is incorporating the public to resolve the issues. Some smart companies have figured out the way to manage projects like never before! These companies have made their projects available to the public. The reason behind it is the attainment of multiple solutions and cost competitiveness.

Some participants come up with the best ideas as a group of people is brainstorming about the project issue you are going through. Don’t forget to maintain the project’s integrity and confidential data availability before making the project public.

Here is something you should do:

• Conduct some polls to attract the public.
• Make the project issue available at almost all public sources.
• Look for further assistance from agencies that deal in Project Management

Wrapping Up

Finally, the productivity of project management is heavily evolving. Moreover, researchers have predicted that PM will neither be static as there is an introduction of newer modes every day. Project Management has indeed encountered a rapid pace. And every company requires the latest project management tools, which can help them adopt fresh changes.

If you need to survive the harshest of business climates, then make sure to adopt these latest trends. Also, these trends will assist you in surpassing the major changes which are coming shortly soon.

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