2014 Project Management Trends: Making an Impact
2014 was a year that can be considered a major stepping stone for organizations and businesses looking to incorporate the next level of project management policies and procedures, train their employees about stringent field measures, set up PMOs, etc. It has had mixed results. These results included employee turnover rates, their training and development processes, employee engagement policies, and so forth. We’ll help you take a quick glance at this remarkable year, which has been made all the more impactful by these project management trends. Agile–Project Management’s New Way to Think: As organizations look for new ways to improve the results of their projects, Agile has continued its rise. These methods can yield significantly better results and faster cycle times if they are used correctly. Organizations are no longer following the wrong approach of “low document project management” –which has often caused difficulties in the execution of the right processes and hindered all future prospects for becoming more Agile. Instead, they are addressing the need to implement Agile in their operations in a more appropriate way. This is evident in their Agile approach to implementing appropriate controls and training modules, as well as investing in resources. Agile’s success allows for a rapid flow of projects through approvals and gates. This allows organizations to respond quickly and effectively to changing market forces. For organizations to achieve long-term success, they must use a variety of Project Management processes, methods, and tools. After realizing the reality, it was clear that the human element of change, which includes true management, support, and stakeholder engagement, is what determines whether these initiatives succeed or fail. We now understand the importance and evolution of Change Management, which is not new. Change Management is no longer a buzzword within organizations, PMOs, and other circles. It is increasingly being used in diverse environments. On the flip side, the outcomes of CM have revealed that quite a few organizations have been missing out on their overall objectives or are over-compensating–as a result of their attempts of adopting change. Recent signs suggest that CMBOK (or Change Management body Of Knowledge) will be released. The application of their guidelines and a more pragmatic approach to Change Management would allow for more successful business outcomes. Portfolio Management – Business Change Driven By Project Management: Project Managers and PMOs now see the bigger picture when implementing business initiatives. They ask questions such as: How can their initiatives impact the environment and overall business strategy?
How does each project/programme fit in with the strategic direction of the business?
Project Management is no longer measured in terms of a single project but rather as a holistic view that encompasses multiple business initiatives. Executives who manage large portfolios are turning to smarter and more innovative management methods. These principles are helping them control investment spending and business outcomes (as opposed to dealing with indiscriminately).