5 Project Management Trends in 2020
Project management is one of the crucial business disciplines for eons now and is always in the spotlight. Every other company wants to find a better, more innovative way to manage their projects to effectively improve the productivity of their teams (big and small businesses alike), and to do so they prefer using the changing ways of project management.
As technological changes are ramping up, it’s important to know how these changes have impacted organizations in managing and executing projects. So industry professionals should always be ready to ride the tide!
Here we are going to discuss the most important Project Management trends in 2020. Because these project management trends are here to stay and will impact your teams, your clients, and your approach towards work. So be prepared:
The Inclusion of Artificial Intelligence and Automation in Project Management
Just like many other prominent industries such as Healthcare, Software development, and Finance, the global impact of AI can be seen in the applications of Project management as well. Many organizations have inculcated the use of AI to streamline their day to day work activities and productivity through task tracking and automation. They have been using AI-based tools to not only automate tasks but to get deeper insights into the overall performance levels.
One such example is the Staff timer app. It is a time tracking software. This application uses Screenshots to track time which is captured after specific intervals and then sorts the screenshots using Artificial Intelligence and Machine Learning. After sorting statistical analysis, reports containing billable and non-billable hours are generated. In the end, you get extensive reports for the work done on projects.
Such tools help organizations in making smart and informed future decisions based on the insights and data available. Which in return helps them save useful resources that would otherwise go to waste. Most importantly, project managers should embrace AI in their processes and then learn how to take advantage of it for successful project completion.
Hybrid Project Management Approaches
There is no denying the fact that no one size fits all. Meaning no one project management technique can work for different teams. This is where the idea of hybrid project management approaches comes in. This concept has been a center of attention for a number of industries out there. That is why we can see many project managers working with or combining more than one project management methodologies to get promising results.
Implementing a hybrid model can help you bring all your projects, tasks, teams, communication at one spot which further will help you keep track of everything from a centralized place. Plus point, this brings in more stability, engagement, productivity, and efficiency among teams and work. But first, it’s important to understand which approach works the best for you, or the amalgam of it, to proceed further.
A Rapid Shift to Remote Work
We can see many workplaces shifting to remote work in this Pandemic but it’s not new. Many companies have preferred working remotely way before that and it’s not going to stop. According to Gallup:
“Remote working has been on the rise since 2012: from 39% in 2012 to 43% in 2016. The desire to work remotely is here to stay and it isn’t limited to a few select industries.”
Remote project management is one of the many challenges that companies face. Staff timer app itself deals with remote employees and we know how difficult it is to stay ahead of things. But with challenges come many benefits. Remote working not only brings in more flexibility but also no commuting. If we look at it from a project manager’s perspective, project costs are reduced. Additionally, you get a chance to work with diverse talent from all around the world.
Since remote working itself is a trend, project managers can arrange daily even weekly meetings to check the progress of tasks. Make teams accountable for their performance using the Staff timer app or other tools at their disposal.
Risk Assessment and Competitiveness
This is one of the key trends in project management in 2020. It has been continuing from 2019 and still going strong. But now it has put more focus on Risk management. As more and more players are entering the market every day, competition is exponentially increasing at a rapid rate.
The reason why having a risk management strategy in place is crucial. It not only helps global companies in reducing the impact of threats but also gives them an advantage over each other. There is no denying the fact and minimum risks mean maximum chances of success. Eventually leading to more ROI and a stable customer base.
So in order to avoid future risks, one should identify risks through various risk assessment techniques such as SWOT analysis beforehand including potential threats, strengths, weaknesses, and future opportunities to have a clear picture.
Need for Organizational Collaboration
Nowadays companies depend on continuous collaboration. Teams work together in order to meet the deadlines. In 2020, we can see more collaboration tools, tips, and tricks paving its way into the industry.
Communication is an important part of the collaboration. We saw how emotional intelligence and communication have increased business value over the past few years. So it’s important as project managers to keep improving their business and communication skills.
Some of the steps that project managers can take:
- Creating a proper communication plan
- Being specific about the communication and collaboration channels
Make sure you and your team are on the same page as you and the Staff timer app can help you greatly with it. It provides you clear project management tools to communicate your tasks with your team. It also provides various customized options to meet your organizational needs.