Project Management Trends in 2024

Nidhi Inamdar|4/29/2022, UTC|6 MIN READ|
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//Project Management Trends in 2024

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The problem with trends is that they could go unnoticed for a long time. The term "trend" is frequently used to describe the expectation of progressive evolution. You merely go about your business, oblivious to the fact that the world is moving beneath your feet.

Until it's too late, that is.

How many of our parents' generation's employees and co-workers thought they were out of touch because they were considered inexplicable? That is not a scenario anyone should be in?

The way that technology, economics, social issues, and environmental concerns evolve – indeed, will have an impact on how projects are managed.

There's no disputing that project management currently isn't the same as it was even five years ago. Our profession is shaped by project management trends. Technology is changing, new tools are being developed, consolidation is taking place, and innovation is taking place, among other things.

Leaders must understand how the environment around them influences the work they do now, as well as how to plan for future trends.

  • Artificial Intelligence (AI) and Automation in Managing Projects

    According to the Project Management Institute,81 percent of experts believe AI is having an impact on their companies. In the next few years, that number is projected to become much higher. Project managers may refocus their time and focus on processes that will most radically benefit their organizations by automating minimal tasks, allowing them to impact more change and improving the likelihood of each project meeting its strategic goals.
    Organizations have been using AI on a greater scale in recent years to secure project completion in a variety of ways, including:
  1. Getting information about the performance
  2. Providing decision-making assistance
  3. Making guesses and estimating
  4. Organizing resources in a more efficient manner
  5. Making data visualization possible
  6. Making a risk assessment.
  7. Taking charge of a hybrid team
    • Today's project managers must manage a hybrid workforce 

      Your project team's presence at the office is no longer guaranteed. Offshoring and nearshoring development and customer service have long been part of the project ecosystem, but now even the colleague down the street is likely to be in her office at least some of the week. Remote working had been on the increase for a while, but in recent years, its popularity has skyrocketed. While the global epidemic caused companies to allow employees to work from home because of safety concerns, remote working is expected to continue in the future. This presents project managers with some fascinating issues.
      What can you do to help?
      Accept the trend. It is also beneficial to you not to be at the office every day.
      Make use of tools that can assist your remote and heterogeneous team stay on the same page.
      Accept that you will need to use a variety of tools to fulfill the needs of your coworkers.

    • Empathic leaders are in high demand

      While project managers need organizational and communication skills, emotional intelligence has become increasingly important in recent years. Employers are increasingly looking for empathy and other social abilities, according to the World Economic Forum's Future of Jobs report. This is important for project managers because their job requires them to have a thorough understanding of people. They must manage their human resources more effectively to lead initiatives to success and to do so, they must first understand those people. Due to one of the main project management trends, the development of remote working, the capacity to connect and empathize with people has become much more crucial.

    • Data is becoming more important. Data-Driven Project Management using Analytics

      Organizations of all categories generate huge amounts of data every day. In a conclusion, it's only natural to make decisions based on such information. Project managers can use data monitoring and analysis to spot early indicators of scope creep, track project progress, and more.
      Automation insights provide you with a comprehensive view of your entire business and all of your operations. They provide detailed visibility into activities and provide custom reports to assist project managers in visualizing data in the way they require. Project managers can use these technologies to make informed judgments in real-time rather than generating intuition-based decisions on reports that are manually compiled.

    • Prioritizing mental health

      We understand how stressful project work may be. And, let's face it, the first decade of this decade hasn't exactly been kind to many people's mental health. Protecting our mental wellbeing, as well as that of our employees, must be a priority for any forward-thinking leadership team.

      Businesses have been fast to put resources in place to let employees work remotely. However, the support networks for virtual and hybrid work have taken longer to emerge.

      Organizations can take several initiatives to prioritize their employees' mental health. To begin, businesses might establish flexible working hours to provide employees more flexibility in "how" they work. Fitness programs are also a viable choice. Managers should set realistic expectations for project timelines and goals while attempting to deliver more appreciation than criticism from a project management standpoint. These are just a few initiatives that businesses can take to improve the health and well-being of their workers.

    These project management trends should also assist project managers in comprehending the procedures necessary to improve operational efficiency. 

    Lucent Innovation manages its work using a variety of tools, including Good Day—an ERP platform, and Scrum Alliance's agile methodologies, which include careful planning, commencement, execution, monitoring, and project closure.

    Keep an eye out for our upcoming blog, when we'll go through project management tools and processes in further depth.

    And make absolutely sure your company employs them to outperform your competitors.

    We work hard to stay on top of the newest technological breakthroughs, merging them into our corporate culture, and producing superior commercial results. Lucent Innovation is one of the leading Digital and software solution companies.

    We have a lot of experience with e-commerce development. We develop one-of-a-kind solutions for our customers, resulting in increased productivity, growth, and profitability. E-commerce sites that are eager to sell, expand, and grow are also something we create.

    For your next project, get in touch with us!

    info@lucentinnovation.com

    Nidhi Inamdar

    Sr Content Writer

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