The role of the project manager is rapidly evolving as the world faces unprecedented challenges. From navigating complex global issues to integrating cutting-edge technology, project management now demands a new set of skills. This transformation highlights the critical need to rethink how we train the next generation of project managers. By developing competencies in problem-solving, adaptability, and sustainability, organizations can ensure that future managers are well-prepared for the complexities of modern projects. So, with Next-Gen PMs Need Analysis, we can better understand why future project management skills are necessary. You can read the Turkish Version in here
Increasing Complexity of Projects
As global challenges become more complex, the projects aimed at solving them have also grown in complexity. Climate change, digital transformation, and rapid globalization demand well-structured project plans. These projects often involve multiple stakeholders, shifting priorities, and limited resources, all increasing the likelihood of failure. A Project Management Institute (PMI) study found that 52% of projects fail to meet their goals, often due to poor scope, time, and resource management. Moreover, this highlights the necessity of equipping future project managers with better problem-solving skills to address complex project requirements effectively.
Resource: [PMI Pulse of the Profession Report] (https://www.pmi.org/learning/thought-leadership/pulse/pulse-of-the-profession-2020)
Rapid Technological Changes
The rise of artificial intelligence (AI), machine learning, automation, and other advanced technologies has transformed industries across the world. While these technologies offer incredible opportunities for efficiency and innovation, they also demand that project managers be adaptable to integrating them into their planning and execution processes. Also, according to the Harvard Business Review, only 35% of projects are considered successful. If applying AI and other technological innovations to project management could improve the success rate of projects by just 25%, it would equate to trillions of dollars of value and benefits for organizations, societies, and individuals.
Resource: [Harvard Business Review on AI in Project Management] (https://hbr.org/2023/02/how-ai-will-transform-project-management)
Shortage of Managers and Talent Gap
There is a significant shortage of experienced project managers who can effectively mentor and train younger professionals. The PMI predicts that by 2027, organizations will need nearly 88 million people in project-related roles. Further, this talent gap represents both a challenge and an opportunity. If young professionals are not trained now, the shortage of qualified managers will escalate, risking higher failure rates for critical projects. Also, PMI forecasts that the demand for project-oriented workers will far outstrip supply, with a need for 87.7 million more project managers by 2027.
Resource: [PMI Job Growth and Talent Gap Report] (https://www.pmi.org/learning/careers/job-growth)
Continuity and Sustainability in Project Management in Future Project Management Skills
Sustainability is now a key consideration in both corporate and public-sector projects. So project managers need to integrate sustainability metrics into their project plans to meet modern standards of responsibility and ethics.
Organizations that invest in sustainable project practices tend to perform better financially and socially. Training the next generation of project managers to embed sustainability in their planning will ensure projects are forward-thinking, not just in terms of profits but also in contributing to long-term societal well-being. S&P Global reports that companies with high sustainability performance see a 22% higher return on investment (ROI) compared to their peers with lower sustainability ratings. This is because strong sustainability practices often lead to better risk management, improved efficiency, and enhanced brand value. Training project managers to integrate sustainability into their project planning can therefore drive substantial financial returns and long-term value.
Resource: [S&P Global on Sustainability and ROI] (https://www.spglobal.com/esg/csa/)
Future Project Management Skills: Conclusion
Training the next generation of project managers is no longer just about teaching traditional skills. It’s about preparing them to navigate an increasingly complex and technologically driven world. The growing challenges in project management, from handling multifaceted global issues to incorporating advanced technologies, call for a new approach to training. At the same time, the industry faces a critical talent gap. Organizations must invest in developing young professionals to ensure a steady pipeline of qualified project managers who can handle the challenges of the future. By focusing on key areas like problem-solving, technological adaptation, and sustainability, we can empower the next generation to lead successful projects that benefit businesses and society alike. Ultimately, investing in the training and development of future project managers is an investment in the future itself. Next-Gen PMs Need Analysis perfectly demonstrates why this project is necessary. You can find our other posts here.
