Project Management in the XXI Century

Every day, the technological, regulatory, and financial complexities surrounding us make managing projects in any organization more challenging and difficult.
There are clear patterns in projects all over the world: The more complex the project, the more important it is to have the right knowledge and skill set. Another key factor in success is the ability organize resources in the most efficient way possible. An increasing number of stakeholders, internal and external, is interrelated and must collaborate to complete any project. Transparency and the ability to manage processes are also becoming critical. Yet, it is difficult to find the right resources to address these issues.
Take a look at several examples from different industries
There is a high demand for professionals with the experience and knowledge to develop exploration projects and install offshore platforms in the oil industry.
It is difficult to find people who can coordinate interdisciplinarity research projects in the academic sector.
Complex technology projects in the banking sector require people who can manage many functional teams and achieve results, often within a regulatory environment.
Private Equity, one of the largest strategic investments groups, is finding it increasingly difficult to find people who can coordinate and manage their investment projects in a systematic manner.
Projects are affected by systemic issues
All organizations are affected by systematic issues that impact all projects, regardless of their sector.
Dependency on key people/project managers is almost impossible to replace based on their knowledge and experience.
The syndrome of reinventing everything, where every project starts with a blank slate
Projects are subject to significant delays in time, cost, and quality. This is the norm, not the exception
Project results are very unpredictable and have almost no repeatability.
The experience gained from a particular project type is concentrated in a small number of people and is difficult to transfer to others.
It is difficult to manage and coordinate activities with third parties.
Information about problems encountered during a project is often delayed and imprecise. This can lead to delays in decisions and cascading problems.
Cultural resistance to change, and the tyranny that is “business-as usual” philosophy
Despite the above-mentioned problems and trends, project management tools have not changed much over the past 10 years. Project Management is a mature field that has limited room for innovation. Yet, the subject is of critical importance and it is imperative that we look at ways to improve our results.
What would innovation look like in project management tools?
The simple answer is: project management functionality is being merged with other disciplines, just as it is in other areas.
Organizations are currently able to develop and follow processes, manage their projects, and record and archive their knowledge. However, all of these tasks are often done in isolation, often in silos that barely communicate with one another. Integrating project management and other functions into a single, coordinated system of work would be a real innovation.
How could one platform help with intelligent project management, incorporating knowledge and processes to improve efficiency? How would this platform benefit any organization, regardless its size or sector?
An ideal solution should include the most common elements of project management such as WBS, Gantt and time.

Author: Alexander