Thoughts on The Project Economy
| We are hearing a lot about "The Project Economy" and how the radical and disruptive changes are evolving the future of work. While I am not an expert on this topic, nor am I as forward-thinking enough to fully comprehend how the way we work is changing, here are my thoughts around the concept of "The Project Economy" How do you define the concept of "The Project Economy"? Advancements in technology and the need for businesses to evolve to meet market and customer demands have propelled organizations to change how we work. The Project Economy is about evolving from routine work of operating the business to one of changing or transforming the business. The primary vehicle for "changing the business" and delivering value to our employees and customers is through projects. How will "The Project Economy" impact individuals? Individuals will increasingly work within a project-driven workflow, rather than operational workflows. Initially, these initiatives will be contained within organizations, but the value will scale when projects are applied to cross-organizational efforts in society. Individuals will join and exit cross-discipline project teams as needed. As contributors, individuals will be given increasingly more opportunities to apply their expertise toward initiatives that generate value and benefits. How will work present itself within organizations? Work will be a blend of operational and project-based initiatives. Business organizations will retain some structure and governance around standing up projects. How widespread do you believe this phenomenon to be? We are just at the beginning of the Project Economy, thus it is not wide-spread. Some industries, such as construction, IT, finance, government, and pharma, are heavily invested in project-based workflows. Other industries (i.e. healthcare, education) are lagging in this evolution. What has led to organizational shifts within the project management profession? The migration of work from operational departments into project-driven parts of organizations have led to the rise in importance of project management. This has driven the need for not only more project managers, but better-skilled project leaders. Some organizations are elevating project execution and delivery to an executive level. Where will the major working changes need to be made for organizations to remain effective and efficient? Financial and budgeting practices within most organizations are still 19th Century and need to evolve to support more fast-paced and iterative business models that are required of the Project Economy. In terms of the skill sets focus, what should organizations be working to develop? Organizations should develop adaptive and growth mindsets within their employees and managers. Leaders will need to be well-versed in change management and project managers will need improved business skills. What are the risks and the opportunities that could arise in trying to re-educate the workforce about a new set of project management skills? There are several risks relating to re-training the workforce, here are two:
One opportunity: a combination of MBA and PMP skills and expertise will open many doors to success in the Project Economy. What does this new way of working mean for project managers and how is this going to change the way they work on an everyday basis? Project managers will need improved business acumen and skills, and will need to be comfortable with managing change. In addition to delivering stakeholder value, project managers will also become responsible for "changing the business".
Connect with on Linkedin, at www.brucegay.com, or follow me on Twitter @brucegay |
Big Bang Delivery is Dead
|
ASSERTION: The era of the big bang transformation and delivery is dead. Rapid, hybrid solution delivery is ascendant and necessary. - Do you agree or disagree?
Given the rapid pace of technology and business disruption, most organizations are investing heavily just to keep up with the changes. What differentiates the leaders from the laggards in addressing this disruption is how they organize their business to execute against strategy. We can no longer use the model of monolithic programs that go on for 2-3 years. Organizations find that what they set out to do or solve at the beginning is not what they will finish doing. In the current business environment, traditional delivery models are now looking too rigid and organizations are locked into investments that often miss the mark. Leading organizations are using rapid delivery cycles that mobilize a project very quickly, aiming to release the product into market or to customers with minimum investment.
- How does role of the Project Manager change with this trend? - How does the role of the PMO change? - Does the approach to portfolio management need to adjust?
|
Design Thinking Introduction for Project Leaders
|
The pace of change and disruption in the business environment demands that we, as Project Leaders, grow and acquire new skills. To be successful, we need to look past the rigor and discipline of managing projects and embrace agility and collaboration, thinking about customers first, with innovation and adaptive leadership. Design Thinking has emerged as a successful methodology that organizations use to approach problem-solving and delivery of innovative solutions that delight their customers. Design Thinking provides models for project leaders to be more successful in this every-changing profession. My webinar from May 2016 outlines the benefits of incorporating design on projects while providing a high-level overview of methods and tools:
https://www.projectmanagement.com/videos/330087/Design-Thinking---Project-Management
Connect with me on Linkedin or follow me on Twitter @brucegay |
Design Thinking Resources for Project Managers
| |






