Our predictions for the project management industry in 2024

As the end of the year approaches many of us are starting to consider the changes that may be on the horizon in 2024. In this blog, we’ll explore our predictions for the project management industry over the coming year and the impact they may have on your organisation.

The history of project management

Project management traces its roots back to the early 20th century, however, it wasn’t until the mid-20th century that project management gained recognition as a distinct field. The 1950s and 1960s marked a crucial shift in the industry towards systematic approaches to project execution. Then the 1980s brought forth the Project Management Institute (PMI), which played a pivotal role in establishing project management as a recognised profession.

In the 21st century, Agile methodologies gained prominence as a response to the dynamic nature of modern projects. Today project management is experiencing an ongoing evolution, adapting to technological advancements, organisational complexities, and the ever-changing demands of the globalised world.

Artificial intelligence

While this may come as no surprise, the use of artificial intelligence will continue to rise this year. Research from the Project Management Institute found that 82% of senior leaders say AI will have at least some impact on how projects are run at their organisation over the next five years. If harnessed correctly, AI can increase a project managers efficiency by automating repetitive administrative tasks giving them more time to focus on strategic leadership.

Soft skills

77% of organisations say professional skills, aka soft skills, are a real focus for 2024, according to our latest research. As AI begins to take over repetitive tasks, project managers will need to make use of the ‘soft skills’ that are not possessed by robots to demonstrate their value. The importance of good team communication, strategic thinking, leadership, creativity, innovation, and emotional intelligence will continue to grow as humans strive to prove their worth in the workplace.

Hybrid project management

Our research recently found that 45% of organisations have already adopted a hybrid approach to project management, or are planning to within the next year. Traditional and Agile approaches can provide different benefits for an organisation. Combining the structured approach of a traditional methodology with the flexibility of Agile can lead to faster project turnaround, stronger team collaboration, and successful alignment with business objectives.

Alignment with organisational strategy

In 2024, the impact a project has on the wider business will be seen as a key measurement of success. Increased metrics will be used to track the benefits of a project, and understand how it contributes to business strategy. By aligning project objectives with overarching organisational goals, business owners can ensure the continued growth of their business and increase the impact made by successful projects.

How can I keep up with these changes?

Invest in professional growth in 2024, training in our PRINCE2 or PRINCE2 Agile courses will help you develop a structured approach to project management which will allow you to navigate the pace of change.

Source: prince2.com