In 2019, organizations will lose almost 12% of their investments because of poor project performance,report, which was based on a global survey of more than 3,000 project management professionals.
It takes more than the latest tools and technologies to prepare for new ways of working. A strong project management culture is essential to supporting strategy. On the one hand, organizations must create a culture that supports the pillars of project management, such as the relationship between project managers and executive sponsors.
As chatbots and IoT-enabled devices increasingly do the work of employees, organizations must build digital-age teams. This starts with recruiting and retaining project professionals with expertise in some of today’s most innovative technologies. After all, project managers play an important role in leveraging technology to yield a successful digital transformation.
In addition to investing in employee development, project management leaders and HR managers must work together to create career paths and incentive programs that reward employees with a blend of project management expertise and technology know-how.
First, the C-suite must provide reskilling and upskilling opportunities. Eighty-one percent of PMTQ Innovators provide ongoing project management training to employees, compared with 34% of laggards. Initiatives may range from seminars and online courses to mentorship programs that familiarize employees with the basics of a particular technology and how it can benefit the organization.
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