To break ground with the advanced technologies implemented in any business, emerging project management trends are unique and are non stop solutions to manage projects and accomplish successful deliverables of the project effectively.
Be it any project of the business, the way it is managed plays a crucial role in finding the business on the pinnacle. As we all are moving at a fast pace into the digital world transformations, it paved the way for managing the projects with innovative and advanced techniques.
To enhance any business project in the competitive world, nowadays, the projects are managed to provide solutions for different real-time challenges faced in business projects. Since the customer requirements are sometimes off the charts, it is high time for the developers to build a perfect project management software.
Now let us look into the top project management trends of 2020, which are revolutionizing the ways to manage the projects and are driving the business projects to revamp the entire business with high productivity.
The Top Project Management Trends Of 2020
#1. Evolution of Artificial Intelligence & Automation
What Is AI?
To say in simple words, AI refers to Artificial Intelligence, and it is known as machine learning. Herewith this innovative technology, machines simulate the intelligence of a human to provide effective solutions to any difficult strategies of key project performance.
AI In Project Management
The system equipped with AI to manage the projects which involve daily administration activities without any human intervention.
- It can automate the complex tasks more effectively.
- Estimate the real-time challenges to be faced in the project.
- Make the right decisions at the right time.
- Resolve complex strategies or project-related tasks.
Finally, within a short span of time, any complex project can be managed by answering the difficult questions which may arise during the project management like:
1. An estimate of how many tasks an individual could successfully handle by comparing his or her previous task management report.
2. Find the task to be automated in the process.
3. Find the top and the least performer by analyzing the task reports.
4. Plan the resources required for the project by analyzing all the strategies of the project.
In short, It mainly deals with the following project management process
- Budget Management
- Risk Analysis
- Human Resource & Time Management
How It Impacts
- Chatbot Assistants with AI to support all customer queries.
- No errors in Budget management.
- Making the right decision to avoid the unseen risk in the project.
- Enhances overall productivity & efficiency of the project.
- Predictive Analytics for effective time management.
- Automating data for effective task management
#2. Hybrid Approach
What Is Hybrid Approach?
The hybrid approach is the combination of two approaches like agile and traditional software methodology waterfall approach in order to provide real-time solutions for the complexities involved in the project.
Hybrid Approach In Project Management
In any project, the workflow of the project may not remain static. It may change depending upon the customer requirement. Initially, customers may stick to the traditional waterfall approach and in a later stage of the project cycle, they would like to switch over to the agile approach.
The combined approaches of the waterfall and agile can be implemented via the Hybrid approach of the project management.
How It Impacts:
- An adaptable workflow can be implemented in the project.
- It improves stability and efficiency of the project.
- Enhances flexibility in the project
- Different work styles can be implemented in the project.
- Ensures successful project deliverables.
- Easy customization as per customer requirements.
#3. EI-Emotional Intelligence
What Is EI?
EI refers to Emotional Intelligence. It is the capability of an individual to track one's own emotions and the emotions of others in order to differentiate between the emotions and keep a guide to use the factors to resolve the difficult strategies involved in the project.
EI In Project Management
The major role of any project manager is to handle the team members and EI is one of the important qualities of the project manager. It is also known as EQ- Emotional Quotient.
The top management always needs this EI or EQ to manage the team more effectively. The EI or EQ of the project manager can be utilized to optimize the resources more effectively by understanding the emotions and predicting beforehand to solve any type of risk involved in the project.
How It Impacts
- Out of scope project management.
- Effective time management.
- Human resource management.
- Risk and Budget management.
- Enhances team collaboration.
- Managing the Stakeholders in advance.
#4. Effective Project Management Tools
What Is Project Management Tool?
Effective project management software
or tool plays a vital role in managing the projects successfully. It has become an inexorable in the whole process of project management.
Role Of Project Management Tools
As a project involves many stages or cycles like planning, scheduling, executing, delivering, then it becomes easy with effective project management software to manage all the aspects and stages of the project.
How It Impacts
- It enhances overall productivity and efficiency of the project.
- Improves Time management.
- Easy Attendance Management of the resources.
- Effective Task Management.
- Effective reporting system.
- Screen monitoring of the resources.
- URL tracking to find the real-time spent by the resources.
Read on Top Project Management Techniques for managing Software Projects
#5. Data Analytics With Magnified reporting
What Is Data Analytics?
It is an approach that allows the top management to analyze the predefined data by comparing with the outcome and helps to generate magnified reporting via benchmarking process.
Data Analytics In Project Management
A project always involves huge data. Maintaining and leveraging the data plays an important role in making decisions, depending on data-driven reports.
The graphical data representation determines how the project is handled and the resources are performing to attain the expected pre-defined data.
How It Impacts
- Effective project planning.
- Effective risk management with the magnified reporting system.
- Budget and Time management.
- Right strategic decision making at the right time.
- It provides a clear idea about KPI (Key performance indicators ) from the data-driven reports.
- Big data analytics with advanced blockchain technology to optimize the data and provides futuristic business solutions.
- Data Analytics tool provides a graphical representation of the overall outcome and easy to predict the bottleneck involved in the project.
#6. Organization Collaboration & Remote services
What Is Organization Collaboration?
Different business units of the organization combine together to complete the task to achieve successful deliverables. This entire process is known as organization collaboration.
Remote working is the ability to work from remote areas outside the application server and getting connected to the application software.
Cloud computing is also a type of remote service provided by cloud computing platforms like Amazon Web service.
Organization Collaboration & Remote Services In Project Management
Organization collaboration is nothing but a project collaboration in an enterprise. When different business units are involved in any project activity, then the team leaders of different business units connect together to manage the complexity involved in the project successfully.
Similarly, for an open-source project different organizations get connected via remote services like cloud access to the project. This also helps to grow different organizations.
How It Impacts?
- Flexible as it is the process of connecting via remote services.
- Easy to make use of the hardware and software via cloud computing
- Enhances cooperation between different business units of organization
- Since there is no need for investment in physical hardware via a cloud computing service, it is a cost-effective process.
- Can make use of advanced technologies like IoT via remote services to manage the project effectively.
- With cloud computing services, it is easy to have a backup and recovery system of the project data.
Finally, understanding the top project trends of 2020 will enable you to accomplish your project activities and manage well with effective project management software. Undoubtedly, these trends will help you to streamline all your business strategies.
The upcoming trends of project management rely on the trends mentioned above. The innovations are perpetual, and in the near future, you can experience advanced technologies like IoT, Virtual Reality, Blockchain Technology getting into the ground of project management.