04.26.2024
Your Complete Guide To Scaled Agile Framework Certification
Posted by Marbenz Antonio on July 14, 2022
Despite continuing economic uncertainties, one thing is certain: job searchers have the advantage. The PMI 2022 Jobs Report was recently issued, and the resounding message is that the demand for project professionals is increasing all around the world!
PRINCE2 is excited to investigate what this means for project managers. Where will your abilities be in high demand in the future? Which industries are investing, innovating, and driving change? We’re here to summarize the findings of PMI’s Jobs Report and look into the employment prospects available as the economy improves.
PMI’s recent analysis confirms the conclusions of their 2021 Talent Gap Report, which revealed that 2.3 million new project management personnel are required each year to meet global demand by 2030. Organizations are looking to repair and develop routes for reinvention as we recover from the COVID-19 pandemic. The floodgates have been opened, and the rate of change is expected to be massive, necessitating the urgent need for additional project talent!
The last two years have pushed for the delivery of novel solutions, in addition to new ways of working. As a result, we are witnessing significant investment and job prospects in industries such as healthcare, infrastructure, renewable energy projects, information technology and technology, and others. Let’s take a look at what developing trends are increasing global demand for project managers…
Governments and world leaders are setting ambitious targets in the energy industry, and there is considerable pressure to achieve outcomes around the world. The Chinese economy has slowed slightly, but a variety of factors, including rising consumer spending and China’s energy transformation strategy, are expected to contribute to increased project activity.
The need to stay ahead of climate change concerns, as well as the lofty targets for reducing greenhouse gas emissions, are prompting both public and private companies to step up their sustainability efforts. This is generating project activity – and a need for project managers. China has committed huge funds to a number of green energy projects, including wind farms, solar power plants, and biomass power. It also intends to invest an estimated $300 billion in the construction of ultra-high voltage electricity lines that will include the entire country.
Similarly, as part of his France 2030 plan, President Macron has committed €8 million to energy initiatives in France. To be a leader in green hydrogen over the next five years, the country will be trying to attract new project talent to help them realize their ambitions. While the Middle East and North Africa have traditionally been connected with fossil fuels, they are increasingly committing to green energy targets as well. There are different power megaprojects underway in the region, and project employees are in high demand.
Rapid digitalization is another main factor driving the need for project managers. Even before the pandemic, Europe’s IT sector was struggling to address a talent vacuum. However, according to the State of European Tech report, tech funding has reached an all-time high – US$121 billion was invested in 2021, about three times that of 2020. This indicates that opportunities for project managers in the IT sector are expanding.
There is evidence of pandemic-driven digitization. Organizations are seeking to not simply keep up with technology, but to get ahead of it! They want to improve the customer experience, automate tasks, and prepare for the future. There are more project roles available in new technologies such as AI, blockchain, electric vehicles, and IoT. Many new IT projects are springing up in India, and project team members are in high demand. Janani Raju is a Bengaluru-based engineering manager with Bosch Global Software Technologies. Says:
“Companies are willing to invest more for project managers with entrepreneurial mindsets, who can influence culture change and are able to build durable, cohesive teams.”
IT continues to be a significant area for job possibilities in Africa. Africa receives over one-third of global assistance or approximately 32 billion dollars. It is creating new development jobs throughout the region, with up to 45% of them requiring project talent. Fintech (financial technology) start-up investment is especially strong. Google contributed $50 million in October to assist African start-ups, with ambitions to invest $1 billion in African innovation initiatives over the following five years. This should result in a surge in project activity and corresponding job opportunities in 2022 and beyond.
In the future years, almost all industries will witness an increase in the demand for skilled project managers. Businesses will be looking for tech know-how, empathy, sustainability knowledge, and innovativeness. As businesses explore new ways to recover financially, they will look for innovative leaders who can provide exceptional solutions at a cheaper cost and in a shorter time span.
Manufacturing companies in South Asia are willing to invest more in project managers with strong innovation and leadership abilities, as demand for items created there has increased over the last two years, despite the pandemic. Supply chain issues have prompted countries such as the United States, Canada, and China to turn to automation and digitalization to defend themselves from potential disruption. Recent supply chain bottlenecks will continue to cause problems, notably in the transportation and construction sectors, where project managers will be called in to help. Agile experience, in addition to digital abilities, will be at the top of job ads in these sectors.
The pandemic has taught every industry the importance of Agile. Flexibility, pivoting, and adaptability are becoming essential skills for project managers. Generally, there is a significant demand for project talent, and there are numerous opportunities for project experts. According to PMI’s 2022 Jobs Report, now is the ideal moment to advance your project management career!
Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.
For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com
