Where should project management professionals turn their focus on to stay ahead of the game in the new year ahead of us?
The path to the post-Covid recovery seems to be an uphill. Inflation is surging at a global level, supply chains are experiencing multiple disruptions, and the markets are trying to adjust to the new challenges. In this demanding environment, it is more important than ever for companies and organizations to adapt to the emerging market trends.
When it comes to project management, keeping up-to-date with new technologies and understanding where things are heading can make a change for a professional seeking to stay ahead of the game. So what are the top trends in project management in 2022?
1. The Surge of Artificial Intelligence and Automation
In addition to finance, manufacturing, healthcare and other industries, artificial inteliigence has also made an impact on the project management sector. In the previous year, more and more companies invested in AI tools to manage both their projects and their daily tasks.
Apart from automation which comes hand in hand with time efficiency, artificial intelligence helps in achieving business goals and making sound decisions based on data. Scheduling complex tasks and making accurate estimations of a project’s cost, progress, and duration are additional benefits of artificial intelligence, along with data visualization.
2. Increasing Dependency on Data Analytics
Be it project planning, risk estimation or quality management, data analytics offer the way forward. They also provide insights on how to form teams taking into account each member’s skills and capabilities.
Data analytics have the power to increase business value; that is why project management professionals need to learn how to use it in the right way.
3. The Importance of Business Intelligence & Reporting
The insights taken during the duration of a project can be invaluable to firms and organizations. Business intelligence refers to the use and analysis of data coming from different sources for a specific time period aiming at drafting tables, reports and other documentation.
Businesses and organizations are investing in business intelligence and reporting to find out which business practices actually worked and where there is scope for improvement. This is called descriptive analytics.
Use of business intelligence is expected to rise in 2022 due to the fact that it offers the possibility of high quality in-house analysis using software, the cost of which has reduced significantly in the last years.
4. Business Analytics Predict the Future
While business intelligence uses descriptive analytics, business analytics focus on predictive analytics to produce actionable insights for companies and organizations. BA predicts emerging trends, which is an ace in the sleeve of decision makers, like project manager professionals.
Which are the Top Project Management Tools?
According to data, 77% of successfull projects are based on tools and software which plan, monitor, and assess the success of a project. These include Statistics, Relational Databases, Datewarehouse, Vizualization Tools, like Tableau, Power Bi, and Programming Languages, like Python, and SQL.
The next step
Early identifying and adapting to the changing needs and trends of the project management industry is key to success for professionals seeking not only to survive change, but also to thrive in the new, volatile environment.
Workearly Business, specializes in training professionals with the latest project management tools and in shaping customized digital transformation plans. Its large network of experienced software engineers, project managers, data analysts and HR professionals delivers tailor based, result oriented education according to emerging market trends.