Project management insights from our 2024 ILX Group research report

This year our ILX learning and development (L&D) research has revealed some interesting insights for the project management industry. For the past three years, we have surveyed 250 business, HR and L&D leaders to learn:

◉ The key challenges and priorities facing organisations

◉ What trends are impacting L&D decision

◉ The skills that are most in-demand

◉ And more!

So, what have we discovered about the project management industry in 2024?

Prioritising a hybrid approach

We’re seeing many businesses start to adopt a combination of Agile approaches and traditional project and programme management (PPM) methodologies to help them work more efficiently and do more with less. We found that 45% of organisations say they are currently using, are considering adopting, or are transitioning to a hybrid approach of project management.

Find out more about the impact of hybrid project management and our predictions for the industry in 2024 here.

A focus on developing skills

This year, 71% of organisations are planning to increase budgets for Agile project management skills development, 66% for management and leadership skills and 65% for PPM skills. These skills are essential for helping manage time, budgets and resources. At a time where budgets are constrained, businesses are under pressure to continue meeting customer demands and developing new products to remain competitive, possessing these abilities could prove invaluable.

Where are project management skills most in-demand?

Management and leadership is the skill most in-demand for the Finance department (23%) and second in-demand for the Operations department. While PPM skills top the list for Product Development departments.

The importance of professional skills

78% of businesses say that professional skills (aka ‘power skills’ or ‘soft skills’) are a top focus in 2024. The top professional skills are:

◉ Personal leadership, impact and managing objectives (40%)

◉ Problem solving (39%)

◉ Managing change (38%)

For those in the project management industry in particular, these skills are vital for helping organisations to get more done with fewer resources. Building soft skills makes it easier for employees to take on new roles and challenges, plus these abilities allow them to be more easily adaptable and remain resilient to the social and technological challenges brought about by a given project, or in the wider organisation.

Source: prince2.com