by Dharam CW2 | Apr 28, 2024 | Agile and Scrum Practices
🌟 Boost Your Agile Team’s Emotional Intelligence! 🌟
In our latest discussion on Agile and Emotional Intelligence, Justin Buckwalter, PfMP, PgMP, PMP, PMI-ACP, PMI-RMP and I uncover the pivotal role of EI in team success. In the rapidly evolving project environment, Emotional intelligence (EI) is not just a bonus—it’s essential. 🚀
🔍 Episode Highlights:
+ Understanding EI: Discover why Emotional Intelligence is crucial for team collaboration and effective decision-making.
+ Agile & EI Synergy: Learn how to apply Agile practices to boost EI in your teams.
+ Navigating Challenges: Explore strategies to overcome potential conflicts when integrating EI into team dynamics.
+ Emotional Agility: Enhance workplace and personal relationships through improved communication and understanding.
+ Leadership Through EI: Empower project managers to harness EI for better leadership and more productive teams.
🎧 Tune into our conversation and gain invaluable insights on enhancing your team’s emotional capabilities! Check out the episode now: https://youtu.be/SQQZFcz7Ng4
💬 Share your thoughts on Emotional Intelligence vs. Emotional Agility in our project environments. What challenges have you faced integrating EI into your projects?
🚀 Elevate Your Project Management Career:
– Register for my upcoming PgMP/PfMP Success Story Webinar: https://bit.ly/3TSx8fj
– Book an obligation-free consultation session on Project management Career, training, and certifications: http://talktodharam.com
– Discover training offers and certification discounts: https://bit.ly/3jWVepD
– Stay updated with our Q&A series and certification success stories by subscribing to the vCare Project Management YouTube channel at https://bit.ly/2YF0wJl
– Follow my podcasts and interviews with Project Management Experts on YouTube at https://bit.ly/2NDY8wd
by Dharam CW2 | Mar 15, 2024 | General
Managers who practice both strong management and effective leadership skills are successful project managers. Management skills are different from leadership skills. Effective leaders develop new leadership skills to enhance the ones that help them succeed as managers.
Organizations require effective leaders to achieve their strategic goals through programs and initiatives. Therefore, organizations need successful project/program managers who are also effective leaders. But what kind of leadership skills do project managers require? Are project management skills insufficient?
Project management differs from leadership. However, although project management differs from leadership, the two have some similarities. For instance, the performance of a project manager and the leader’s efficacy are both judged in terms of the performance of the followers—the team’s performance. As a result, focusing on team performance is a critical component of building project managers’ leadership skills.
Leadership Effectiveness
Leadership Effectiveness
On a macro level, leadership effectiveness is defined by a leader’s ability to gain support and influence throughout an organization to guarantee that everyone is going in the same direction to achieve common goals. It effectively measures a leader’s ability to lead, influence, manage, advice, and build their team members. The total growth and performance of the teams may be used to assess leadership effectiveness. Those who report high levels of productivity, performance, employee happiness, and well-being indicate high levels of leadership effectiveness.
A good leader inspires the best in others. These leaders understand how to create the ideal corporate vision, establish the proper values, and assist employees in focusing on and improving their skills. Great leadership reflects great performance, not just complex numbers. Workers and the organization will improve if leaders establish a great corporate culture and help employees thrive.
Program management
According to the Standard of Program Management – Fourth Edition, Program management is “the application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benefits and control not available by managing program components individually.” Program management involves aligning program components to ensure goals are achieved and benefits are optimally delivered. Program management is performed by a program manager authorized by the organization to lead the team(s) responsible for achieving program goals and objectives.
Ways to improve leadership effectiveness in Program Management
Ways to improve leadership effectiveness in Program Management
- Ensure clarity and visibility of goals
You may begin your path to improve leadership effectiveness in your business by encouraging leaders, managers, and executives to focus on objective clarity and visibility. This move has multiple aspects. First and foremost, the goals must be very clear. As a result, goals must be SMART for effective leadership, and adopting an OKR approach will make sense.
Second, for comprehensive visibility, the goals must be communicated to everybody. On the one hand, everyone in the team has to understand the organization’s goals and their role in attaining them.
- Facilitate accountability and responsibility
Second, exercising accountability and responsibility is critical for leadership success. Encourage your leaders to take accountability for their actions. The goal is to encourage them to be interested in increasing their leadership effectiveness. This aspect requires determining which skills and abilities to be acquired, as well as aspects such as emotional intelligence and empathy. When your leaders seek to improve themselves, they usually set a good example for others to follow, increasing their effectiveness as leaders since they may start a positive trend.
- Create a culture of feedback
Leadership effectiveness is heavily influenced by a leader’s desire to improve oneself. It is optional to self-assess the deficiencies and work on upskilling in this situation. Instead, it is critical to foster a feedback culture. First and foremost, it is vital to provide feedback to employees on their performance and to assist them in improving and growing along the way. This move will immediately influence organizational goals and define increased effectiveness.
Second, encourage your leaders to be receptive to employee input as well which will assist them in seeing and comprehending the gaps in their leadership style that may impede their success as a leader. Creating a feedback culture can promote improved outcomes, eventually enhancing leadership effectiveness.
- Build trust and transparency
Trust and openness are required for leaders to influence, direct, and build their teams to success. When employees trust their supervisors or leaders, they will follow them fully and offer their all. If not, following their manager will be a pointless exercise limiting leadership effectiveness.
Similarly, it is critical to be open and honest with all employees. Secrets, nepotism, preferences, and biases will be self-defeating if you want your leaders to inspire everyone collectively. Instead, everyone must be treated equitably, and all processes must be transparent to acquire team trust and influence them.
- Focus on continuous performance management
Effective leadership is not just about motivating and encouraging team members to follow a leader or manager but also about doing so in a way that leads to achieving a certain objective or high level of performance. As a result, boosting leadership effectiveness necessitates emphasizing continuous performance management.
Employees grow and develop when their leaders or managers regularly monitor and track employee performance and give frequent interventions and corrective steps to minimize risks or problems. As a result, they can motivate and inspire their team members, resulting in increased leadership effectiveness.
- Respect differences and promote inclusion
Members of each team come from various backgrounds, bringing with them different perspectives, ideas, and opinions. An effective leader accepts these differences, appreciates them, and recognizes their value. To boost leadership effectiveness, you must cultivate an inclusive culture. In addition, your leaders must understand the important skills and competencies each team member brings to the table and how the multiple views and perspectives offer the ideal breeding environment for creativity and success, resulting in leadership effectiveness.
- Foster a growth mindset
The last recommended practice for increasing leadership effectiveness is cultivating a growth mindset. It would be best to encourage your leaders to have a growth mindset during all interactions or choices they make. For example, when dealing with a team member, they must keep the employee’s personal and professional development in mind. Likewise, when making a strategic choice, they must link it with the organization’s goals and how it will eventually contribute to its success. With a development mentality, your leaders will guarantee that they lead effectively, strategically, and in the greatest way possible.
Leadership in Project Management
Leadership in project management is a vital ability for completing the project effectively. Leadership in a project setting, like leadership in other areas of business, necessitates demonstrating many talents and behaviors. Leadership is essential to ensure your initiatives’ success, from team direction to project governance.
Leadership and project management go hand in hand. You oversee the project and lead the team as the project lead. Setting the vision and encouraging the team to work together to accomplish it is a vital component of leadership. You can see how significant that is in a project environment. Delivering any project requires a team effort. While some teams work without a clear leader, in today’s business, it is more customary for someone to be in the leadership role, guiding and directing the team toward their goals.
5 Essential Project Leadership Skills
Influential leaders draw on many essential project management skills and competencies. The top five project management leadership skills are:
5 Essential Project Leadership Skills
- Communication
One of the essential project management characteristics is communication skills. Communication skills are essential for project leaders since their job requires collaboration. You can only collaborate efficiently if you can communicate clearly. Leaders can communicate ideas to people and groups in person, over the phone, or through other modes of communication. Therefore, communication is one of the most important abilities of a program manager, especially in a leadership role.
- Team leadership
The leader establishes the vision. They motivate others around them. Someone with outstanding project leadership skills fosters team agreement and togetherness while managing day-to-day team activities.
Team leadership on projects entails establishing an atmosphere in which everyone may thrive. People are drawn to the project culture that surrounds them. Stakeholders want to participate in the project because they know you will complete the task while creating a pleasant working environment.
- Motivation
Leaders inspire people to act even when they are not technically in control. As a program manager, you figure out what makes the other team members feel like they’re doing their best, and you do your best to deliver it to them.
Everyone is driven differently, and a person’s motivation can shift over time. Great leaders realize these distinctions and enable their employees to accomplish their best by fostering a happy work environment.
- Crafting solutions
Empowering the team and the larger stakeholder community to participate in developing solutions is part of fostering a positive working culture. That entails removing obstacles so each team member may fulfill their work and contribute new ideas without worrying about something getting in the way. Empowering leaders will also drive decisions down the hierarchy to the lowest possible level, allowing specialists to judge the solutions required to keep the project going.
- Conflict resolution
Conflict is inevitable when introducing or altering anything. However, effective leaders understand how to use conflict for good since the finest solutions emerge when ideas are challenged.
Conflict may benefit teams because it allows all voices to be heard and opposing viewpoints to be expressed, frequently leading to a better solution and more effective project outcomes. However, leaders must be prepared with conflict resolution tactics to recognize and address conflict before it becomes a problem for the team.
The Challenges of Leadership Effectiveness
The Challenges of Leadership Effectiveness
- Development of managerial effectiveness
To improve their leadership effectiveness, project leaders must acquire the following skills:
- Time management
- Task prioritization
- Strategic thinking
- Goal-setting ability
- Good judgment
These are essential skills for a project leader to deliver effective projects and handle the possibly competing demands of many duties. Without them, a leader is more prone to burnout from focusing on irrelevant matters and achieving little of the planned tasks and objectives.
- Inspiring and Motivating the Workforce
Motivating and inspiring others to follow you and act in a specific manner is a skill that some people appear to be born with, and others must learn. However, whether you have an inherent talent for motivating others or not, it is a skill that every project leader must have to motivate their worldwide workforce.
Passion is an important aspect of inspiring and encouraging people. Passionate leaders ignite the fire in their team members, allowing innovation to flourish and encouraging everyone to participate. In addition, effective leaders can naturally share and correctly convey their team’s and stakeholders’ enthusiasm and drive.
- Developing Employees and the Rise of “Servant Leadership.”
“Servant leadership” is based on the idea that leaders should not just delegate responsibilities but also consider themselves servants of the people they manage. As a result, their actions are driven by what is best for their team or workers rather than by what is best for themselves, which might manifest itself in the following ways:
- Close collaboration between management structures and employees
- Active participation in the growth of their teams
- Leading by example and embodying the ideals that leaders want to see in their team dynamics
- Using value systems to motivate teams to act rather than spreading fear
- This managerial style is infused with sincerity and humility.
A project leader who can find a balance between the servant-leader management style and more antiquated, authoritarian methods will be able to inspire and encourage their workforce.
- Leading a Team
All diverse cultures and viewpoints must cooperate and contribute to leading a project team effectively. Whether forming a new team or taking over an existing one, leaders must be able to give the support their team requires to cope with and navigate change or to create something entirely new.
Determining the sort of assistance required might take time and effort. Teams are as distinct as the individuals that comprise them. Project leaders must be extremely attentive to detect the demands of their workforce. What works for one person may not work for another. Leaders must be able to modify their management style in response to the demands of their teams.
Final Thoughts
In today’s firms, competent project managers must also be effective leaders. Therefore, successful project managers may use their inventive and creative skills to assist them in acquiring leadership skills that will complement their project management skills by recognizing the difference between project management and leadership and adopting the roadmap to becoming effective leaders.
The shared component of project management and leadership is the yardstick by which the performance of the project manager and the leader is measured. The performance of a project manager and the efficacy of a leader are both judged in terms of the performance of the followers, i.e., the team’s performance.
As a result, improving leadership skills for project managers with an emphasis on skills to increase team performance should be an essential factor in the project management leadership skill development process. Project managers’ essential leadership skills begin with motivating and inspiring teams and individuals. These aspects can be developed via negotiation and communication, listening and influencing, and team-building skills, emphasizing leveraging these talents to improve overall team performance.
For any questions related to your Project Management career, training, and certifications, you can book an obligation free 15 minutes session with me by visiting https://bit.ly/2SbhTOK
You can subscribe to the vCare Project Management YouTube Channel to catch future videos of our Q&A series and certification success stories: https://bit.ly/2YF0wJl
You can subscribe to and follow my podcasts and interviews with Project Management Experts on YouTube at https://bit.ly/2NDY8wd
by Dharam CW2 | Mar 11, 2024 | Program Management
Join Precious Chikwata PMP®,MBA,PgMP®PgCert Cybersecurity and me for an insightful Q&A session as we explore the dynamics of cross-functional teams. Dive deep into the reality beyond the statistic that “75% of cross-functional teams are dysfunctional.” As seasoned Project/Program Managers, let’s discuss this figure, exchange experiences, and examine the essence of effective teamwork.
In this episode, we’ll also discuss how to navigate crises by building resilient networks of teams and the pivotal skills required for managing cross-functional teams and stakeholder expectations.
🔑 Highlights of the session include:
– Precious Chikwata’s personal PgMP journey
– Strategies to construct resilient teams during crises
– Debunking the myths of cross-functional team dysfunction
– Navigating stakeholder expectations within complex team structures
– Tactics to dismantle silos and enhance inter-team collaboration
– Resolving tough conflicts and extracting valuable lessons
– Essential skills for leading cross-functional teams as a Program Manager
– Managing expectations when program deadlines are at risk
– Utilizing PDUs effectively
– Tips for passing the exam
– Insights on rebounding from market challenges to secure your next role
Unlock these insights and enrich your knowledge by watching the full episode now: https://youtu.be/D3rzic6MbSg
🚀 Elevate Your Project Management Career:
– Register for my upcoming PgMP/PfMP Success Story Webinar: https://bit.ly/3ON2Ibl
– Book an obligation-free consultation session on Project management Career, training, and certifications: http://talktodharam.com
– Discover training offers and certification discounts: https://bit.ly/3jWVepD
– Stay updated with our Q&A series and certification success stories by subscribing to the vCare Project Management YouTube channel at https://bit.ly/2YF0wJl
– Follow my podcasts and interviews with Project Management Experts on YouTube at https://bit.ly/2NDY8wd
by Dharam CW2 | Jul 24, 2023 | General
Delivering a successful project is challenging, especially when there are multiple stakeholders. However, even if a project is performed on time, on budget, and to the expected scope, it can still be regarded as a success only if the stakeholder expectations are managed appropriately.
Each project stakeholder has certain expectations. Project managers are at the forefront of potentially disastrous situations when such expectations conflict. They must address and resolve the issue or risk jeopardizing the project and their position. Because the fundamental cause of problems is only sometimes apparent, project leaders and teams must analyze links between issues and stakeholder motives using interpersonal skills such as resolving conflict, resistance to change, and trust building.
Project Stakeholders
Project Stakeholders
A stakeholder is an individual, group, or organization that is affected by the result of a business venture or project.
Stakeholder interactions may positively or negatively impact the project’s life cycle. Thus, a project leader must identify important stakeholders and develop a stakeholder management plan to satisfy their demands. Using project management tools and strategies to keep track of the key stakeholders is an excellent method to remain on top of things and ensure that project stakeholders remain satisfied and productive.
Types of Stakeholders
Internal Stakeholders
An internal stakeholder is somebody whose interest in the project is directly linked to their affiliation with the entity in charge. Internal stakeholders want the strategic and commercial goals of the project to be realized. They might be project managers, team members, sponsors, owners, or investors.
External Stakeholders
External stakeholders are not directly linked with the company but are important to the business or are influenced by the project in some way. Those are frequently supply chain participants, creditors, or public groups.
Stakeholder Management
The stakeholder management process includes communicating project status, expenses, and barriers to stakeholders to increase visibility, navigate changes in project direction, and manage expectations. Project stakeholders are those involved in the project or whose interests may be influenced by the project’s execution or completion.
Stakeholder management helps project managers keep change at the forefront of their thoughts while making it less intimidating. Furthermore, the stakeholder management plan is a reminder for every interaction the project managers have with direct or indirect stakeholders, helping them maintain a genuine link between the project and day-to-day operations.
Closing the Stakeholder Expectation Gap – Means
An effective stakeholder management process ensures that timely and relevant feedback is provided, and that the stakeholder management strategy directs the change effort. The project manager maintains stakeholder expectations, resolves conflicts, and identifies and fixes any problems that develop throughout the project. In general, the following are the fundamental parts form the stakeholder management process:
The Necessary Elements For Successful Stakeholder Management
- Managing stakeholder expectations: The project is more likely to succeed when stakeholders’ expectations are actively managed. As a result, to ensure perfect conformance with project goals and expectations and to continue the project management effort, the project manager must continually negotiate and influence the demands of stakeholders.
- Managing stakeholder perception: It is critical for project success to ensure that stakeholders are involved in the project regularly and are kept up to date on the project’s progress. High-level stakeholder perception increases the likelihood that stakeholders will provide the necessary support and the project will be completed as intended.
- Keeping track of stakeholder activity: The project manager is primarily responsible for recording and tracking all stakeholders’ activity. As a result, to secure stakeholder acceptance and project communications plan adherence, the project manager should formally document all contacts with stakeholders and keep records of the project’s outcomes.
- Solving problems and resolving conflicts: To avoid challenges and conflicts, the project manager should address stakeholders’ concerns and identify risks and threats in collaboration with conflict management. By referring to change requests, the project manager can generate solutions.
Understanding the components of the managing stakeholder’s process enables the project manager to engage with stakeholder expectations and demands and build action plans to be used when disputes and challenges emerge. The project manager can utilize the following tools to assess conflicts and challenges, as well as manage stakeholders on an individual and group level:
Tools To Assess Conflicts And Challenges In Managing Stakeholder’s Process
- Issue logs: An issue log is a tool for assessing issues and documenting resolutions. It is a document with a rigid categories structure that allows each issue to be placed in the appropriate category (issue group). The project manager uses problem logs to ensure that each stakeholder understands the project and maintains positive working interactions among all stakeholders, including project team members.
- Change Logs: It is a tool for documenting any changes that occur throughout a project. The project manager uses change logs to track changes and their impact on project goals and deliverables. A change log should be provided to project stakeholders and should include data on changes to risks, uncertainties, costs, and budgets.
A change request for project deliverables may result from the technique for managing and engaging stakeholders. Changes to the stakeholder management approach and registry are also feasible. The method of managing stakeholders allows for evaluating and modifying stakeholder benefits created earlier in the project’s life cycle.
Five pitfalls to address while dealing with the expectations of stakeholders
5 Pitfalls To Address While Dealing With The Expectations Of Stakeholders
- Identify the stakeholders
A project often involves many stakeholders, and it can take time to identify all of them. A stakeholder is a person, a group, an organization, or a set of organizations that are actively involved in or may be affected by the project. Stakeholders can have an impact on a project in a variety of ways.
For example, if a stakeholder is top management in an organization and is not completely committed to a project, it may drastically limit buy-in throughout the business. Founders and C-suites are also stakeholders who can positively or negatively impact a project. Therefore, the identification of stakeholders is a critical step in managing expectations.
- Classifying stakeholders
Effective stakeholder management necessitates a project manager categorizing stakeholders based on their role in project completion. A project manager must determine which stakeholders are supporters and which may be obstacles to the project. It might be challenging to define the types of risks, where and when each risk exists, the impact on the project, or how to build strategies to handle possible risks if stakeholders cannot be classified.
- Mapping expectations
Project managers must resolve possible concerns, keep stakeholders involved and motivated, and finish the project on time. A project manager must have a good understanding of all stakeholders’ expectations. Stakeholder analysis and adequate documentation can be useful in mapping expectations. Stakeholders may have different priorities when completing tasks, milestones, or the full project. Their interests may be interpreted differently and have different definitions of success.
For example, one stakeholder may prioritize project completion on time, while another defines success as keeping it under budget. Mapping expectations and obtaining clarity among all stakeholders enhances the possibility that a project manager and their team can effectively complete a project.
- Using appropriate communication methods
Stakeholder management requires determining and implementing appropriate communication methods. To successfully manage stakeholder expectations, a project manager must establish the available and preferred communication mechanisms for stakeholders. A poor or incorrect communication approach can lead to distrust and dissatisfaction between stakeholders and a project manager. It is also essential to adjust communication tactics and frequency based on elements such as time, message, purpose, secrecy, or changes based on stakeholder contexts.
- Engaging stakeholders
Stakeholder engagement during the project with frequent updates boosts stakeholder confidence, which is essential for project success. In addition, efficient stakeholder management necessitates the involvement of stakeholders in decision-making by the project manager.
Although a project manager may believe they have already determined the optimal course of action, they should incorporate stakeholders in procedures and pertinent talks to ensure all options have been examined; otherwise, key possibilities and expectations may be missed.
Closing the Stakeholder Expectation Gap – Methods
Before beginning a new project, start by identifying all stakeholders. First, identify those impacted by the project and the organizations that will influence the project. Then, using the strategy outlined below, begin developing strong relationships with each stakeholder.
Closing the Stakeholder Expectation Gap – Methods
- Analyze stakeholders
Conduct a stakeholder analysis or an evaluation of the key participants in a project and how the initiative will affect their issues and requirements. Determine their unique qualities and interests. Find out what motivates them and what frustrates them. Define responsibilities and levels of engagement, and assess whether there are any disputes among stakeholders.
- Assess the influence
Determine the extent to which stakeholders can have an impact on the project. The more powerful a stakeholder is, the more a project manager will require assistance. When evaluating stakeholders, consider the question, “What’s in it for them?” Knowing what each stakeholder needs or desires from the project allows the project manager to measure their degree of support. Remember to weigh support against influence, like Is it more necessary to have strong support from a low-level stakeholder or moderate support from a high-level stakeholder?
- Understand their expectations
Determine the exact expectations of stakeholders. Then, when necessary, seek clarification to ensure they are thoroughly understood.
- Define “success”
Every stakeholder may have a distinct definition of project success. Discovering this towards the end of the project is a potential disaster. Instead, gather definitions and integrate them into the objectives to guarantee that all stakeholders support the final results.
- Keep stakeholders involved
- Don’t just provide updates to stakeholders.
- Solicit their opinions.
- Schedule time for brief meetings to get to know them better.
- Determine each stakeholder’s ability to engage while keeping time restrictions in mind.
- Keep stakeholders informed
- Send regular status updates.
- One update each week is generally adequate.
- Hold project meetings as appropriate, but allow enough time between them.
- Respond to stakeholders’ inquiries and emails as soon as possible.
- Regular contact is usually valued – and may help ease the impact when you have unpleasant news to deliver.
These are some of the fundamentals of developing effective stakeholder connections. However, like with any relationship, there are subtleties that every effective project manager knows, such as understanding the distinctions and responding successfully to various types of stakeholders.
Final Thoughts
There is a link between resolving conflicts in stakeholder expectations and project success. Similarly, the faster project teams defuse a potentially dangerous situation by recognizing the source of conflicts, the link between issues, and the motivations of stakeholders, the simpler it is to develop trust, settle conflicts, and overcome resistance to change.
Using diverse modes of communication between the project team, senior management, and stakeholders improves prospects for mutual understanding. These methods may help the project managers to meet the stakeholder expectations and reduce the risk of project disaster.
Feel free to check out my discussion on this topic with Thomas Walenta in YouTube
For any questions related to your Project Management career, training, and certifications, you can book an obligation free 15 minutes session with me by visiting talktodharam.com
You can subscribe to the vCare Project Management YouTube Channel to catch future videos of our Q&A series and certification success stories: https://bit.ly/2YF0wJl
You can subscribe to and follow my podcasts and interviews with Project Management Experts on YouTube at https://bit.ly/2NDY8wd
by Dharam CW2 | Jul 19, 2023 | General
Project management is a fulfilling career choice that may offer competitive pay and a wide range of job opportunities. As a result, project managers are constantly in demand: Qualified individuals are always needed to plan and provide work in every business.
Over the next ten years, demand for project managers is one of the roles which will expand faster than the need for workers in other roles. But on the other hand, organizations may face risks due to the talent gap.
Understanding PMOE
Projects are becoming an increasingly important component of business completion. The acceleration of business evolution, increasing emphasis on digital transformation, and ever-changing consumer expectations and competitor offers are here to stay. As a result, project management skills and talents are becoming increasingly important in organizations.
Organizations will not invest in training the people in those positions to accomplish that work if those roles are not recognized as contributing to project management. As a result, they will not foster an environment where employees may develop experience, and they will eventually find themselves unable to sustain the number of projects that must be delivered.
One of the reasons that technical roles are considered part of PMOE is the growing adoption of agile ways to deliver work. However, many organizations still see agile as a ‘project management free’ delivery method, where the self-organized nature of agile teams eliminates the need for project management. But, again, this thinking must change if there is any hope of closing the skills gap.
Organizations must assess their skill profiles for all roles and determine if project management competencies should be included. Even roles that do not entail daily project delivery or where employees are more frequent contributors than leaders are likely to benefit from project management skills and experience. Unless that is ‘built in’ to job profiles, hiring and development methods will remain the same, and the shortage will remain unaddressed.
Talent Gap Report 2021
Successful projects are a significant contributor to global economic growth. As more industries become projectized, the demand for qualified project managers will likely rise over the next decade.
The Talent Gap Report 2021
The Talent Gap Report 2021 has been released by the Project Management Institute. The headline is the scarcity of qualified candidates for project management-oriented employment (PMOE). As a result, around 25 million more employees will be required by 2030 than in 2019. To put this in context, there were 90 million workers in those positions in 2019, implying a 30% increase.
Simultaneously, 13 million existing project management-oriented employees will retire, with the vast majority nearing the top of the experience curve. This phenomenon implies that enterprises will lose significant knowledge and skill. And this will happen when they increase the need for that experience by introducing a large number of new project-related staff who must progress quickly. In developed economies, on the other hand, retirement is the primary source of job possibilities for younger workers.
The report’s most critical statement comes near the end: “Global demand for project management expertise is unlikely to be addressed by 2030 unless firms encourage a culture of continuous learning.” As a result, firms confront a huge growth in PMOE roles and an inability to address that requirement based on current business processes.
Addressing challenges of this magnitude demands a strategic approach backed by financial commitments and constant responsibility for performance. In some circumstances, it may also necessitate a transformation in how leaders understand their companies and roles.
3 Reasons For The Project management Talent Gap
Why and where is the Talent Gap?
There are three reasons for the project management talent gap:
- The number of positions requiring project management skills is increasing.
- Project managers are in high demand in emerging and developing companies.
- Project managers are retiring faster than young talent can replace them.
Upskill the people
Unless firms foster a culture of continuous learning, the worldwide need for project management skills is unlikely to be met by 2030. The most resilient firms will prioritize reimagined employee capability-building.
According to a McKinsey report, over 80% of business leaders consider skill building to be “very” or “very” vital to their organization’s growth, up from 59% before the pandemic. As a result, organizations will need to support new learning initiatives and seek partnerships to equip employees with the appropriate project management skills to develop their talent. These talents include power skills like teamwork and leadership; business acumen to develop well-rounded employees; and mastering new methods of working, such as growing use of tech-enhanced problem-solving tools.
Gaining a Competitive Advantage in the Talent Acquisition Race: The Front-Runners
According to PMI and PwC study, a cohort of 250 organizations face fewer challenges in attracting and retaining talent than their counterparts. Their project management offices (PMOs) are better connected with corporate strategy—three quarters have a C-suite presence, and 90% are seen as strategic partners by their executive leaders. As a result, they have an easier time recruiting people with important project skills. They are more successful at developing project managers. They are also twice as likely to have outperformed in revenue growth, customer acquisition, customer happiness, and environmental, sustainability, and governance (ESG) indicators.
Facilitating project-based organizations
The concept of stable operations is unlikely to exist at any scale by 2030, which is one of the most important factors driving the demand for more individuals in PMOE roles. The rapid growth of technology has resulted in much shorter lifecycles for both customer-facing and internal solutions. This trend is expected to continue as digital transformations drive organizations to the point where technology is vital in managing every business area.
Future of project management
Project management is being massively disrupted by management technology. As a result, forward-thinking professionals are questioning how to effectively prepare for the upcoming tidal wave of change caused by technological innovation.
Here are four skills that project managers of the future might need:
- Data Science
- Conflict resolution
- Entrepreneurship
- Resource management
Project Management’s Future in the Age of Advanced Technology
Because of emerging trends such as remote teams, digitalization, and automation, project management has changed dramatically in recent years. As a result, companies now rely significantly on technology to plan, execute, and monitor work. As an example:
- Big data and artificial intelligence for better risk forecasting
- Remote progress tracking using digitization technologies
- Automation software for more efficient execution
These innovations have improved firms’ management capacities and altered project management’s future. According to Gartner research, 80% of management duties will be automated by 2030, and future managers will need more technological abilities. They must be knowledgeable about cybersecurity, blockchains, machine learning, and robots, all of which are expected to play larger roles in management.
Future Trends of Project Management
Consider project management ten years ago: fewer tools, smaller teams, and more straightforward tasks. Since then, the project landscape has changed dramatically, with major trends such as:
- Blockchain
- Artificial intelligence
- Sustainability
- Remote teams
Future Trends of Project Management
Trend 1 – Blockchain
More companies use blockchain technologies for management, such as when conducting dispute investigations. The capacity of blockchain to automatically update data makes it ideal for reconciling records and transactions. One of the most significant contributions of blockchain to project management will be smart contracts, which are effectively self-executing contracts powered by computer code.
Smart contracts reduce the number of key functions within the project manager’s scope, such as checking on project milestones and assigning new ones, which speeds up management processes. As a result, quicker workflow assures project completion on time and improves a company’s overall performance.
Trend 2 – Artificial Intelligence
Artificial intelligence quickly infiltrates project management systems, handling anything from predictive analysis to risk management. Because of its efficacy, AI is expected to contribute:
- $42.7 B (7.7%) to Egypt’s economy
- $135.2 B (12.4%) to Saudi Arabia’s economy
- $96.3 B (13.6%) to the UAE economy
The primary capacity of AI is to provide data insights for decision-making, which increases the agility of any given project. For example, assume a manager considers which product features to include; AI finds correlations and patterns in consumer data and then recommends which product features are more likely to sell. Such insights improve an organization’s competitiveness by avoiding commitment to poorly planned, hazardous ventures.
Trend 3 – Sustainability
Today, project sustainability is more crucial than ever. Governments and societies all around the world are demanding greener approaches throughout the life cycle of a project.
Green initiatives are cost-cutting methods from a business standpoint. For example, energy is required for project execution, and shifting to renewable sources reduces costs. In addition, this frees up resources for other essential areas, such as innovation and research. Meanwhile, sustainable practices improve a company’s brand and foster consumer loyalty.
Trend 4 – Remote Teams
Remote teams have been the norm since the advent of communication technology. As a result, businesses gain from a more diverse and borderless talent pool easily available through contracts. In addition, they spend less on office space, travel, and other administrative expenses.
As a result, it’s not unexpected that 65% of workers anticipate that workplaces will become entirely virtual over the next several years. In general, remote working arrangements enable businesses to extend their resources while increasing operational efficiency. As such, they are crucial in developing lean, competitive firms.
Skills Future Project Professionals Need
To stay up with modern project management trends, a fundamental understanding of ideas such as data science, conflict resolution, and entrepreneurship is required. For example, understanding data science may assist a manager in incorporating AI into more elements of the project life cycle.
Here’s a closer look at what these talents comprise and how they’ll stay up with future project management improvements.
4 Skills Future Project Professionals Need
Skill 1 – Data Science
Big data insights are essential management tools, particularly for large projects with extensive life cycles. Insights from previous projects show inefficiencies that guide the current project, such as the number of slack hours and their causes. Data analysis assesses progress and uncovers deviations early, such as changes in material costs and currency rates that exceed expectations. As a result, project managers must comprehend topics such as statistical inference and regression analysis.
Skill 2 – Conflict Resolution
Today’s projects are extremely complicated, with constantly changing deliverables. As a result, conflicts are never far away. These issues, if left unaddressed, can undermine the team’s performance, resulting in delays and missed deliverables. Managers must thus grasp the various aspects of conflict resolution, such as:
- A conducive work environment’s behavioral and organizational components
- Effective communication
- Effective contingency planning
Skill 3 – Entrepreneurship
Project managers are, in essence, CEOs. On the one hand, they manage project deliverables. Yet, simultaneously, they negotiate with shareholders and set goals based on estimates. As a result, being effective requires more than technical and administrative skills.
Entrepreneurial skills, such as strategic thinking and market insight, are also required of project leaders. Such skills are especially important when modifying deliverables, typical in agile projects like software development.
Skill 4 – Resource Management
Budgets and timeframes became tighter as projects became larger and more complicated. Today’s project managers must balance budgetary constraints, quality delivery, and achieving deadlines with limited resources. They are entrusted with creating a lean organization.
For optimal efficacy, a precise balance of resource allocation is required, as over-allocation to one activity inhibits the others. As a result, managers must understand resource management principles such as equilibrium shifts and flexibility.
Bridging the talent gap
The PMI Talent Gap report delves into a decade’s worth of project management-related job trends, costs, and global implications. PMI has completed its most recent study of the “projectized” businesses that leverage these talents better to understand talent and employment trends in project management. Using data from selected areas, the PMI Talent Gap report provides a birds-eye perspective of the most in-demand talents and the magnitude of the talent shortfall.
PMI data shows a continuing gap between the global demand for project management skills and talent availability. This data translates into many new career prospects in PMOE for job-seeking project professionals. However, the skill shortage is a significant issue for firms that rely on project leaders and changemakers. For example, by 2030, this skill gap is anticipated to affect every area, resulting in a potential global GDP loss of up to US$345.5 billion.
Here is a summary of the top three reasons for the skill gap, as identified by PMI research and explained in the report:
- An increase in the number of professions that need project management expertise.
- Economic growth drives demand for project managers in emerging and developing countries.
- The rate of labor-force retirement
Final Thoughts
Project management has a bright future. There is still a high demand for change agents. PM will transition from being viewed as an administrative function by some executives to the strategic partnership that it has the potential to be in every organization, not just those enlightened businesses with high levels of program management maturity.
For many years, the skills of project managers have migrated toward “soft” skills. However, given how the future of work is shaping, this will become much more important. Project managers will need to be team players. As a result, we’ll need to interact with people who have the skills that the technical companion lacks:
Skills That The Technical Companion Lacks
- Empathy
- Strategic thinking
- Fun
- Creativity
- Motivation and persuasion
- Thoughtful customer service
- Listening
Feel free to check out my discussion on this topic with Justin Buckwalter in YouTube
For any questions related to your Project Management career, training, and certifications, you can book an obligation free 15 minutes session with me by visiting talktodharam.com
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