Project Management: The Future

by PM Today Staff / 6/14/2018 10:01:01 AM

 

Project management has been in practice for thousands of years. It’s not feasible to assume that the Ancient Egyptians built the great pyramids without project plans, timelines, budgets and someone in charge or responsible for the project. Historically we can assume that project management has been in existence since the beginning of civilization.

The Project Management Institute (PMI) was founded in 1969 and now serves nearly 3 million professionals across the world. As one of the original professional bodies for the project management industry, they also outlined the Project Management Body of Knowledge (PMBOK) which is now in its 5th edition. T

oday there are several global professional bodies along with training and further education, so what’s in store for the future of project management? 

AI in Project Management

Artificial Intelligence (AI) and machine learning is set to revolutionise project management as we know it. A recent survey conducted by Atlassian found that 87% of respondents believe that AI will change their job within the next three years. But what does this mean for the industry? AI has the capability to automate the everyday management of projects, make decisions, and offer performance insights.

Project assistants such as stratejos are already leading the way by assisting with administration tasks, team coordination and measuring practices. Whilst stratejos still requires human input – this is only the beginning and as software is developed, project assistants understanding will allow them to not just deliver data, but advice.

The future of AI for project management is untold. For an industry that so heavily relies on accuracy, process, task management and analysis – AI has the potential to eliminate risk, improve performance and increase efficiency.

VR & AR in Project Management

Virtual Reality (VR) and Augmented Reality (AR) have been the ‘hot topic’ for the last few years now, with hundreds of different wearables and solutions saturating the market.

But, can they make a valuable difference to the project management profession? One of the most popular examples of Augmented Reality in the construction industry is the Microsoft HoloLens, which is also certified as basic protective eyewear.

It allows construction workers, project teams and clients to physically visualise and experience a product ahead of completion. This ability alone could mean saving thousands of dollars on readjustments, and eventually may eradicate project errors altogether – watch this space!

VR and AR are the future for industries such as engineering, construction and real estate. Increasingly, businesses are using these technologies to enhance operations and processes, and in the future most, if not all organisations will have some form of AR and VR working alongside their projects.

What does this mean for your career?

Even with the rise of technology, the need for human interaction, input and discussion in the project management industry will always be prevalent. There is no doubt that technology will enhance projects, but, as the agile project management process states, there is no more effective way to convey information that through a face to face discussion.

So, you’ve been in the Project Management industry for a while and have an abundance of experience under your belt. You’re wondering what the next step is and if you should consider further education?

The PMBOK® aligned Master of Project Management with Southern Cross University Online provides the core competencies associated with risk, control, planning, implementation, evaluation, collaboration and system analysis, all adaptable to any business or industry. Delivered 100% online this course can be completed in two years part time with a range of specialisations available.

 

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