Week 12 Class Presentation PDF

PROFESSIONAL PRACTICE & STANDARDS week 12 The future of project management DR MUATH ABU ARQOUIB, PMP ASSISTANT PROFESSOR BOND UNIVERSITY  THE FUTURE IS BRIGHT Talent Gap Report, PMI(2021) By 2030, just 77 million project management employees ou...

PROFESSIONAL PRACTICE & STANDARDS week 12 The future of project management DR MUATH ABU ARQOUIB, PMP ASSISTANT PROFESSOR BOND UNIVERSITY  THE FUTURE IS BRIGHT Talent Gap Report, PMI(2021) By 2030, just 77 million project management employees out of the current workforce will be left due to retirement. https://www.youtube.com/watch?v=8RDH27TDdPg  LEADING SECTORS Talent Gap Report, PMI(2021) WILL PROJECT MANAGERS LOSE THEIR JOBS TO AI? “In terms of industry size, a recent IDC report states that spending on AI systems will reach $97.9 billion in 2023, more than two and a half times the $37.5 billion that was spent in 2019. With such a profound impact, the project management industry too will also see a paradigm shift driven by AI.” AIPM (2020) https://www.youtube.com/watch?v=5-5-6nQB8cc  AI AND PROJECT MANAGEMENT create basic cost schedule projects assign resources plans assist with contract forecast undertake earned interpretation and completion costs, value assessments By 2025 administration as well as assist with identifying trends Almost all PMBOK for opportunity Site inspections processes capitalization and risk mitigation.  FUTURE PROJECT MANAGEMENT MORE LESS managing performance people measurement project vision data analysis team building data network gathering development Status reports conflict Variations resolution Admin  VIRTUAL TEAMS It’s 2040! Project management has become known as ‘the last profession’. In a world where increasingly capable systems have Diverse More workforce specialists gradually replaced professionals across the world, project managers still provide an irreplaceably human combination of leadership, integration of specialists, and Virtual On- ethical behaviour. Arup, 2017 rooms demand “Technological, socioeconomic and demographic shifts are transforming the way we work, demanding flexibility in the way individuals, teams and organisations work.” – Lisa Annese, The Guardian (2016) OPEN INNOVATION CULCTURE GENERAL EMPLOYMENT LANDSCAPE FOR PROJECT MANAGERS BEYOND 2030 1. High expectation about the workers’ ability to work with new digital technologies such as architecting, designing and analysing. Architecting: orchestrating components to build larger systems Designing: conceptualising new solutions to challenges and problems Analysing: making sense of data and information Walker, D., & Lloyd-Walker, B. (2019). The future of the management of projects in the 2030s. International Journal of Managing Projects in Business.  GENERAL EMPLOYMENT LANDSCAPE FOR PROJECT MANAGERS BEYOND 2030 GENERAL EMPLOYMENT LANDSCAPE FOR PROJECT MANAGERS BEYOND 2030 3. Creative and entrepreneurial skills are skills that allow people to creatively use technology to significantly enhance their productivity and to use disruptive technology creatively.  GENERAL EMPLOYMENT LANDSCAPE FOR PROJECT MANAGERS BEYOND 2030 GENERAL EMPLOYMENT LANDSCAPE FOR PROJECT MANAGERS BEYOND 2030