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Blog Article

These Are the Project Management Trends for 2024

February 19, 2024 | 5 min

Project and Portfolio Management

The project management world has undergone a rapid evolution in recent months. Remote work, cloud-based systems, knowledge management, automation which of these topics set the tone for you last year? The project management industry is also facing exciting changes this year. What developments are there? In this blog article, we look at five PM trends in 2024. 

Trend 1: Automation and the Use of Artificial Intelligence in Project Management

Of course, artificial intelligence (AI) was already being used before 2023. However, the triumph of ChatGPT made it clear that AI will be the dominant force in the coming years and will change the world. This development will also influence the project management industry, where the use of AI is currently still a rarity. This is either because companies have not yet developed a clear strategy for AI or because concrete use cases are lacking.  

Soon, however, artificial intelligence will also shape the PM industry and the integration of AI into PM tools will become standard. With the help of AI, it will be possible to carry out projects more efficiently and precisely than ever before – from automated resource planning to predicting project risks.  

The ability of AI to analyze large amounts of data within a very short time and compare it with empirical values at the same time also frees up capacities in project management. These can then be used efficiently elsewhere. Especially when it comes to repetitive and time-consuming tasks, AI can significantly relieve teams and organizations through automation. This applies, for example, to areas such as effort estimation, schedule creation and project reporting.  

Trends in project management: AI

As in other industries, new job profiles are also emerging in the PM world. Are you already familiar with the job description of “AI project manager”? These experts integrate AI into their workflows and automate tasks while being able to analyze data at the touch of a button. Their decisions are more informed and project management is faster and more efficient. There will certainly be many more new job titles and areas of responsibility in the field of AI and project management that we have no idea about today. But one thing is certain: it remains exciting. 

Trend 2: Data-Based Decisions in Project Management

Many companies have now recognized that data not only provides information but can also have a decisive influence on the success of a project. The importance of data-driven decisions in project management will therefore continue to increase. With the help of analyses and metrics, organizations can evaluate performance and identify bottlenecks. This helps them to act with foresight and make proactive adjustments. For example, project teams can use data-based decisions not only to understand the current progress of their projects, but also to forecast future developments. Budgets can also be better planned and monitored. If you want to avoid financial bottlenecks and ensure that projects stay within the specified budget, you need to analyze expenditure and resource allocations. 

The use of data-based decisions should also prove helpful in the development of teams. For example, feedback loops based on data analysis make it possible to identify learning curves of individual employees or entire teams and make adjustments where necessary. This contributes to an agile and learning organizational culture.  

Incidentally, companies also rely on data-based decisions when selecting and evaluating PM tools. These can help to assess the effectiveness of the tools. In this way, organizations ensure that the tools are optimally suited to the requirements of their projects. 

Trend 3: Data Privacy and Security

Cyberattacks, data theft and acts of sabotage are horror scenarios for companies. According to a study, one in five companies in Germany has had concrete evidence of cyber-attacks or data theft in the past three years and the trend is rising.   

Data protection will therefore continue to be of great importance. More than ever, companies must ensure that they are prepared against cyber-attacks and information theft when introducing new software. Human error is often to blame for data leaks. Companies must therefore ensure that their employees receive appropriate training so that they can quickly recognize attacks and fraud. Raising awareness of cyber threats and a clear data security policy are not only necessary, they are essential. 

Trends in project management: AI

The increasing complexity of cyber-attacks also requires companies to continuously adapt their security measures and proactively develop their security infrastructure.   

In addition to protection against cyber-attacks, the issue of data protection will continue to play an important role. Large companies in particular must pay more attention than ever to meeting security and compliance requirements and ensuring that sensitive project data is protected from unwanted access. 

Trend 4: Hybrid Working as Standard 

Even though some companies have gone backwards in 2023 and made it compulsory for some of their employees to return to the office, hybrid working seems to have become firmly established in the fourth year since the start of the pandemic. In many industries, employees can put together their own individual mix of office presence and working from home. Most employees appreciate the opportunity to work from different locations. This will not change in 2024.  

Nevertheless, hybrid working remains a much discussed and controversial topic. Even if many teams are now well established, some challenges remain. One key question: how can effective communication be ensured both within a team and across team boundaries? This is where managers and project leaders in particular are called upon, as the hybrid work mix also presents them with new challenges. 

Trend 5: The Future of Management: Digital Leadership

The (post-)pandemic years have clearly shown that distributed teams and more flexible working time models require a new style of leadership. Managers are developing into digital leaders and must have the ability to lead virtual teams with confidence. After all, it remains a challenge to motivate, coordinate and lead employees remotely. Digital leaders have to manage hybrid teams that may only meet once a week or even once a month. Leaders are needed who can react flexibly to change and create an environment in which employees can be innovative and creative – regardless of their location.    

One of the skills frequently mentioned by managers in these times is emotional intelligence. If you can’t understand your team members, respond to their needs, and build relationships with them, you will struggle to lead a successful (hybrid) team and improve the performance of each individual.  

Trends in project management: digital leadership

The key to everything is clear and transparent communication that engages every employee – whether they are in the office or working from home; this includes facilitating virtual meetings via Zoom or Teams. 

But it’s not just about soft skills. More than ever, digital leaders need to be able to seamlessly integrate new technologies into their project management processes. From collaboration platforms and project management tools to artificial intelligence.  

So, what does modern digital leadership look like? It is open to innovation and  and dares to break up encrusted structures in organizations and replace them with digital solutions. In doing so, the manager acts in an agile and sustainable manner and thus becomes a role model for the entire project team.  

About the Author

Julia Gerstner, Content Marketing, cplace

With its Next-Generation Project and Portfolio Management technology, cplace is revolutionizing and transforming the way people and organizations collaborate on complex projects. The flexible software platform enables leading companies to create customized solutions for digital transformation and developing complex products.

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Julia Gerstner

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