One of the most important things to understand about project management is that there is no "one size fits all" approach to what you're doing. Every organization is unique, which means that only by fully understanding the mechanics of the project as they relate to your long-term business goals will you be able to put the proper plan in place to ensure success.
There are, however, a few project management trends that professional services firms in all industries are finding success with — including those as robust as architecture, engineering, and accounting. By understanding what these trends are, as well as the impact they can have, you better position yourself to start leveraging them for your own operations as soon as possible.
The Emergence of Distributed Teams in the Remote Work Era
Obviously, the ongoing COVID-19 pandemic has substantially changed the way we work. The silver lining is that the fallout from the pandemic has given way to one of the most interesting trends in project management in quite some time.
Project managers have had to adapt to this new remote work era we're living in, and are increasingly turning to modern technology to do so. There are a wide range of online, cloud-based project management tools that give people the ability to be just as productive at home as they would be in the office. What's more, working hours are now filled with solutions like video conferencing and file sharing, both of which keep people connected so that they can communicate and collaborate easily. What used to be done in the office can now easily be shared over the Internet.
While we all hope for a day when everyone can be in the same room again, at least for now, remote project management is here to stay, and savvy project managers are finding a great deal of success as a result of it.
The Emergence of the Hybrid Approach to Project Management
According to one recent study, 70% of all companies are using some form of agile methodology when it comes to project management. This is one trend that shows absolutely no signs of slowing down anytime soon.
Due in large part to the fact that everyone's approach to project management is different, companies are increasingly mixing and matching various styles until they find the one that's the right fit for the project at hand. Everyone knows that a standard "waterfall" approach is perfect for situations where there's a clear understanding of the timeline of the project, and you can be reasonably certain that there will be no surprises waiting for you.
But what if you prefer to do incremental work with self-organizing teams AND still want that high level, long-term planning? In situations like this, a mashup of the "waterfall" and agile methodologies would likely suit you better.
Or what if you know you want teams to have specific roles and be very involved in the planning of a project (as would be true with the Scrum method), but also want work to be completed on an as-needed basis. In this type of scenario, a hybrid approach would guarantee the continuous workflow you need, alongside the task prioritization and iteration planning you've come to depend on.
It's an AI-Based World. That Extends to Project Management Too
More and more organizations are leveraging the full power of artificial intelligence to assist in their project management efforts. After all, it can automate many repetitive and menial tasks so actual humans can focus on things that truly need them, and it can do so in a way that guarantees consistency and eliminates human error.
AI also helps to dramatically improve important tasks like project analysis, while simultaneously increasing the overall efficiency of the project. These types of systems can be used to help predict cost overruns in a project, which means stopping a small problem before it becomes a much bigger — and more expensive — one later.
Better Decision Making Leads to Better Project Management
At BQE, we understand that the number one reason why most professional service firms DON'T hit their target profit is because they lack what they need in terms of project management. A lot of this is through no fault of their own — they simply don't have the tools necessary to uncover the insights that will lead to better and more informed decision making.
That's why we've designed our CORE solution with this exact goal in mind. CORE is an innovative platform that is guaranteed to improve project profitability within just a few short weeks of implementation.
If you'd like more information on the top project management trends you should be aware of for 2021 and beyond, or would simply like to learn how to use BQE Core to empower your own efforts, please don't delay: contact us today.