2019 Trends in Project Management include global and industry hot spots, Japanese innovation, and a return to valuing human resources.
Seven Job Trends for Project Managers to watch in 2019
1. Enterprise model continues to gain favour
As reported in February 2018, there has been an accelerating trend for businesses to adopt Project Management as an Enterprise model and this continues to increase. The benefits are an efficient use of resources plus reductions in time and cost overruns. Employees seeking to secure career advancement opportunities should urgently consider becoming qualified in Project Management.
2. The personal touch
- We’ve previously discussed that the rapid adoption of the latest technologies including AI, The Internet of Things and Machine Learning. Interestingly, this trend has shone a spotlight on the need to engage and fully utilise human resources.
- A developing trend is a conceptual new framework called Projectification – the view of projects as a Human Condition. With this view, the ability to manage, engage and inspire the human element of every project is the key to success.
- Project Managers in greatest demand are those who have strong stakeholder management skills and can quickly align with a company’s strategic objectives.
3. Using Kanban boards
Developed in Japan in the car industry, Kanban Boards and Kanban theory is currently being integrated into project management methodology, using a grid and Kanban cards to aid and manage workflow. Using Kanban gives the project greater flexibility and helps Project Managers to embrace innovation.
4. Best practice quality management
There is a growing demand to integrate Quality Management practices into Project Management, with the associated external governance to ensure Project Managers are delivering global best practice standards.
5. Industry hot spots to watch now
Telecoms
The push towards greater mobile connectivity has caused a surge in this industry. In India, use of smartphones will cross the 700 million mark by 2020. Mobile innovation has become the norm, including a renewed push for messaging apps.
Finance
80% of all financial services organisations are investing in new digital technologies and are seeking Project Management professionals with an innovation mindset, who can drive change across the business.
Construction
Globally, this industry is facing a widening talent gap and will need to fill 9.7 million Project Manager positions through to 2027. The Project Manager Professionals with the qualifications and skills to ride the digitisation wave will be highly valued.
IT
In 2018, the big news in the IT sector was Cybersecurity. Threats to business are up 33% in the past ten years, and the resultant revenue loss is down by 20% in many cases. These stats have created ongoing opportunity for IT Project Managers who have a security focus.
Healthcare
A sector with increasing uncertainty and complexity, there is increasing demand for professionals who have Healthcare, IT and Project Manager qualifications.
Aerospace and Defense
Commercial aircraft manufacturing is buoyant, along with growth in research and production of uncrewed aerial vehicles (drones) both in defense and for commercial use. Project Managers who can navigate the uncertainty of growing global tensions will be in high demand.
Renewable Energy
The growth in solar and wind generation has averaged 20% in the last few years. Skilled Project Managers are required in this area with scope to bring a fresh perspective to an evolving industry.
6. Global PM hot spots
- India – GDP growth 7% will outpace China’s innovation and competitiveness by 2025. Both tech and public infrastructure growth point to a pending project manager skill gap.
- Vietnam – GDP growth 6.3% with manufacturing being the biggest driver to date. Watch for massive future investments in agriculture and electronics.
- Peru – GDP growth 3.8% due to mining and growth in public infrastructure projects.
- Canada – GDP growth 2.1% is driving opportunities in booming construction and energy sectors.
- Germany – GDP growth 1.8% underpinned by low unemployment and focus on energy, consumer goods and the recovering auto industry.
7. Salaries and qualifications
As the demand for properly qualified Project Managers grows, those who have the Diploma of Project Management will be in a prime position to strike when the right opportunity appears.
Salaries are always commensurate with qualifications and experience. You can expect anything from $43,000 pa for an unqualified beginner, up to $166,000 pa (and more) for a fully qualified, experienced Senior Project Manager. The growing talent gap will begin to put upward pressure on these figures.
Overall optimism
The Project Management Institute (PMI) remains optimistic about global job trends in 2019. Worldwide, the evidence shows that if there is a downturn in opportunities occurring in one country or industry, there will be a surge in another. The exponential growth in opportunities predicted in 2018 will not decrease in the foreseeable future.