Podcast
Questions and Answers
What is a key role of project managers in the context of technology replacement?
What is a key role of project managers in the context of technology replacement?
Which of the following skills is expected to be important for workers beyond 2030?
Which of the following skills is expected to be important for workers beyond 2030?
What does the term 'architecting' refer to in the context of expected worker skills?
What does the term 'architecting' refer to in the context of expected worker skills?
Which statement best describes the impact of technological and demographic changes on work?
Which statement best describes the impact of technological and demographic changes on work?
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What does the skill of 'analysing' involve according to future job expectations?
What does the skill of 'analysing' involve according to future job expectations?
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What will be the projected number of project management employees by 2030 due to retirement?
What will be the projected number of project management employees by 2030 due to retirement?
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What was the spending on AI systems in 2019?
What was the spending on AI systems in 2019?
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Which task among the following will AI likely NOT assist with in project management?
Which task among the following will AI likely NOT assist with in project management?
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According to a report, how much is the projected spending on AI systems in 2023?
According to a report, how much is the projected spending on AI systems in 2023?
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Which of the following is expected to decrease in project management due to advancements in AI?
Which of the following is expected to decrease in project management due to advancements in AI?
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In the future of project management, what aspect will likely require more focus from project managers?
In the future of project management, what aspect will likely require more focus from project managers?
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What is a predicted future characteristic of project management by the year 2040?
What is a predicted future characteristic of project management by the year 2040?
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What type of skills will increasingly be managed by traditional project managers despite AI advancements?
What type of skills will increasingly be managed by traditional project managers despite AI advancements?
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Study Notes
Professional Practice & Standards - Week 12
- Project management is predicted to experience significant growth, with a substantial talent gap emerging.
- By 2030, 90 million project management-oriented employees will be needed globally, with 25 million new positions anticipated to meet global demand.
- Additionally, 12 million new roles will be created due to business expansion and 13 million due to employee retirements.
- The projected 2.3 million annual job openings demonstrate a significant increase in demand.
- Just 77 million project management employees out of the current workforce will be left due to retirement.
- AI spending on Al Systems is expected to exceed $97.9 billion by 2023, highlighting the industry's technological transformation.
Future Project Manager Skills
- Key skills for future project managers will include architecting, designing, and analyzing.
- Projects will include the building of larger systems, the concept of new approaches to challenges and the analysis of data and information.
- Other key skills include strong social skills, including communication and collaboration.
- Strong cross-cultural communication and diverse skills to collaborate with international teams.
- Exceptional foundational base technical skills, especially for engineers specializing in infrastructure projects.
- Creative and entrepreneurial skills to enhance efficiency using disruptive technologies.
AI and Project Management
- AI will significantly impact the project management industry.
- AI-related tasks include scheduling projects, assigning resources, and creating cost plans.
- Experienced project managers will also be involved in tasks including contract interpretation and administration, the identification of profitable growth opportunities and assessing potential risks through earned value assessment.
- The use of AI is expected to automate many project management tasks by 2025.
- Project managers may see a shift in roles and responsibilities to include a focus on human interaction, innovation.
Future Project Management Focus Areas
- Project managers are expected to focus more on managing people and leading projects.
- Performance measurement, data analysis, data gathering, status reports and variations will likely decrease in importance.
Virtual Teams
- Increasingly, project teams will adopt a virtual environment, demanding diverse, on-demand specialists.
- Project managers will need skills in leadership and integration of specialists.
Open Innovation Culture
- Open innovation culture is encouraged by companies, with research outside of company boundaries becoming more common.
- Closed cultures involve little research outside of firm boundaries.
General Employment Landscape (Beyond 2030)
- Project managers will need to demonstrate proficiency in new technologies.
- Project managers in the future are to be skilled in orchestrating components for larger systems, understanding innovative solutions and analysing information.
- Project managers will need strong social communication, collaboration, and interpersonal skills to build trust.
- Skills in creative problem-solving and use of disruptive technologies are important.
- Workers in specialized fields, like infrastructure projects will need exceptional technical skills.
- Proficiency in cross-cultural communication and international collaboration will be integral.
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Description
This quiz covers the projected growth and demand for project management professionals, focusing on future skills and roles in the industry. Learn about the anticipated talent gap and essential skills for future project managers in an evolving workforce. Explore insights into how technology and AI will shape project management.
