Can Software Help Firms Survive the Challenges of Hybrid Working?
It is no coincidence that the Project Management Institute (PMI) predicts that by 2027, approximately 88 million people worldwide will be working in project management, and the value of project-based business activity will reach £16 trillion. Companies are implementing more projects and these projects are becoming increasingly complex.
This change is due to the increasing adoption of alternative project management approaches such as Agile, Lean Management and Kaizen, as well as a shift in corporate values that allow for greater flexibility of working.
Some organisations are resistant to fully embrace hybrid working because they believe work performance increases when all project team members are together, and teams have fewer opportunities to listen to co-workers in the office or have casual conversations about the tasks they're working on.
A remote work environment with an open and flexible approach to working can open the door to dynamic and hybrid teams. As the hybrid workplace continues to grow, traditional team management methods no longer apply. With the right tools and software platform, hybrid teams can effectively manage complex projects regardless of team members' locations or work preferences. Research from McKinsey shows the hybrid approach is tackling the recent challenge that “employees… are evaluating their relationships with work” with an estimated “…40% of employees globally are considering leaving their job.”
Tools such as Slack, CORE and Asana make it easier for teams and individuals to communicate and collaborate and provide a balanced working environment for teams. A recent MIT study identified that digitally mature companies were 26% more profitable than their less mature peers and companies who embrace digital technology are 64% more likely to achieve business goals than their peers.
In return though, organisations, from business owners to other stakeholders, expect project teams to be familiar with these tools. With an ever-changing profession and our hybrid world, there are many trends that project managers will have to adapt to. While the key stakes for projects remain the same — it’s essential to focus on project design, budget, and resources, and eliminate elements that waste money and do not help projects meet expectations — new realities in companies, technologies, methodologies, and changing work realities require project managers to expand their skills.
This is especially important now more than ever, as early research by Adaptavist of employees working in a hybrid environment suggests productivity is increased in up to 35% of survey respondents. This, coupled with a growing expectation from clients of more customer engagement in their projects and faster response times will continue through 2022, so expect more focus on streamlining workflows and processes, as well as a focus on sustainability in project outcomes.
Working with project management tool CORE
Another challenge in 2022 is supply chain and availability of skilled labour. Here, companies and design teams need to practice agility by embracing digital transformation, accurate forecasting and responding quickly and efficiently to the project environment as well as changes in consumer preferences.
Demand for project management tools such as CORE and Asana will grow as people become more aware of the importance of project management, but so will the need for automation and support through artificial intelligence and machine learning. For example, one of the impacts of AI could be the automation of many administrative tasks currently assigned to project managers, including resource allocation, project balancing, and budget planning and updating.
For this reason, organisations who begin to embrace software to meet customer demands and employee satisfaction can help ensure their best chance of project success.
Learn how CORE can help your project management teams excel in the hybrid-work era.