According to a 2017 Project Management Institute report, companies that have a well-known planned Enterprise Project Management Office (EPMO) report that 38% more projects meet their original goals and business intentions, and 33% fewer projects fail. This shows the importance of project management.
As productivity is always the goal of the project manager, hence it is vital that they remain updated with the current project management trends. Prior to what you have learned in the initial years, this time 2018 is going to be different.
The adoption of formal project management processes and tools will continue to grow; helping to reduce the number of startups that end in failure due to wasted resources, misused time and missed objectives. Project management is a field that interweaves through all industries, in all countries. As the business environment surrounding it changes, project management has to become accustomed. In 2018, there are various trends for project management professionals to be aware of.
Here is the list of top trends of project management in 2018:
AGILE is the future of Project
Agile is not just a trend but it is a new way of doing business. The technological inventions take place every day and project development is not an exclusion. As the business requirements are changing and competition is at hype, IT organizations have to keep their eye on these advancements to stay focused and gain business productivity. All companies that have multi-layered workforce need a flexible process.
Agile methodologies help the businesses that have been following the traditional process to gain flexibility in the process to meet the growing demands of the business.
Artificial Intelligence and Machine Learning for actionable insights
The growth of Machine Learning and Artificial Intelligence are going to change how project management is effectuated. Artificial Intelligence is gradually making its way into the project management tools. These tools are using Artificial Intelligence to automate and mechanize various existing project management tasks comprising proper allocation of tasks to resources, lessening manual error, providing a hub for knowledge management and automated report generation.
Therefore, automation with these new techniques has reduced manual work, saved time, enabled communication and collaboration to the team, allowed performing analysis on the data gathered, and predicted the result of the process.
This trend in project management has assisted the project managers to shape their processes at a shorter interval, to quickly adapt the new innovations. The future of task prioritization, consistency, optimization, and prediction has been eventually improved with AI.
Remote Work and Team Management
The next trend, which is a major requirement for the businesses is managing work and teams remotely. As the organizations tend to grow, there is an increasing number of employees who are and will be working remotely. This has necessitated the need for implementing a solution to allow remote management of work and workforces.
According to a research, 43% of US-based employees are working remotely, that has increased by 4% as compared to last year. This demands a remote work and team management solution to work in a flexible environment. EyeAgile provides Enterprise Mobility solution to the business to allow them to interact efficiently with their remote teams, empowering them with latest technologies and streamlining communication.
Kanban Boards for Project Management
Kanban Board has gained popularity in a couple of years and has been increasingly integrated with the project. Kanban is a method for handling the creation of products with an emphasis on continual delivery while not overstraining the development team. Kanban comprises lean methodology using a visual board to track current progress of all tasks. Rapid feedback loops improve the chances of more encouraged, empowered and higher-performing team members. Balancing demand against throughput assures that most the customer-centric features are always being worked. Thus, Kanban offers a centralized way of managing tasks, avoids stagnation, and embrace innovation.
Managing Resource effectively
The latest trend in project management is how the resources are managed efficiently. Getting well-aligned resources is a major requirement to meet the changing requirements in a project. Organizations that do not incorporate the strategy to manage resources are at a risk of project failure.
Managing resources and their skills, scheduling work and allocating them tasks appropriately and timely are the most important requirements. Use of an effective resource allocation system will increase this year. EyeAgile delivers resource allocation and management to meet the project goals.
SAFe and Scrum are prevalent methodologies
Another trend that has its influence on the project development comprises SAFe and Scrum. SAFe supports enterprise agility to align the business strategy in an organization. It allows the teams to deliver projects in shorter cycles to meet the current market demands.
Scrum methodology is another notified trend to measure the velocity of iteration, enabling delivery of each sprint frequently.
How will these trends impact the project?
Acknowledging and understanding these project management trends will help businesses and project managers to align business strategies, proposing new ideas and ascertaining how to utilize the new trends for project delivery.
EyeAgile offers Agile Project Management for your business to cope up with the current challenges of the project and provides the solution to meet the demands and manage entire project lifecycle. It streamlines all processes involved in a project through customization, in-house agile integration and enterprise mobility solution.
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