Project Management Trends Making an Impact in 2014

2014—a year that can be appropriately rated as a significant stepping stone for businesses and organizations looking towards incorporating the next levels of project management procedures and policies, training their employees about stringent measures in the field, setting up PMOs, and more, has been packed with mixed results. These results were specifically in terms of employee turnover rates, their development and training processes, employee engagement policies and so forth. 

 

Here, we help you take a quick look at this breakthrough year that has become all the more impactful due to these project management trends. 

 

 Agile—Project Management’s New Way of Thinking:

 

The Agile approach towards project execution has continued to gain traction as organizations are looking for alternative ways of improving the outcomes of their projects.  When approached correctly, these methods showcase vastly improved results and provide access to faster cycle times. Instead of following the wrong mindset of ‘low document project management’ --that has often led to difficulties in the achievement of right execution processes and the hampering of all future prospects of becoming more Agile, organizations are now addressing the need of implementing Agile in their operations, in a more appropriate manner. This is being showcased in their Agile approach towards implementing appropriate controls, training modules and investment in resources. 

 

The successful implementation of Agile results in the facilitation and rapid flow of important projects, through their approvals and gates. It also means that organizations can respond to various competitive market forces with speed, innovation, and agility.

 

Change Management for Improved Outcomes in Business:

 

The use of various Project Management frameworks, processes, methodologies and tools is not enough for ensuring that the initiatives of organizations will be successful in the long term. After reality checks, it has been realized that the human aspect of change-- true management and support, stakeholder engagement—is what leads to success or failure in relation to these initiatives (tactical and strategic alike). Herein, we understand the importance of Change Management—which by no means new, has matured as a totally new realm within the scope of project management. 

 

No longer a buzzword in organizations, PMOs and other circles; the trend of Change Management is being increasingly applied in diverse environments. On the flip side, the outcomes of CM have revealed that quite a few organizations have been missing out on their overall objectives or are over-compensating—as a result of their attempts of adopting change. 

 

Recently, there are signs that the release of CMBOK (or Change Management body of Knowledge) and the application of their guidelines would allow a more pragmatic approach towards Change Management—with the same becoming an integral part of delivering more successful business outcomes. 

 

Portfolio Management –Business Change Driven by Project Management :

 

Rather than just delivering pieces of work, Project Managers and PMOs are now seeing the larger picture while implementing business initiatives. They are asking questions like:

Nowadays, Project Management is no longer measured on a singular project basis but as a holistic view across diverse business initiatives. Executives overseeing extensive portfolios are gravitating towards smarter and more innovative  management principles ; which are helping them control business outcomes and investment spend (in contrast to dealing with individual projects and programs). This in turn has placed more responsibilities with Senior PMO Managers, who have to make sure that all project and program related activities are controlled appropriately; with the help of rolled up information to make them steer the Portfolio. 

 

These and other Project Management trends are providing lucrative business benefits in 2014 and creating the right impact—and in more ways than one!