Michael DePrisco | Interim President | CEO | Chief Operating Officer | People Management Institute (PMI) | mail me |
We have released the Global Megatrends 2022 report, an analysis of the global forces significantly impacting society and the project management profession today. Global Megatrends 2022 helps project professionals understand the world’s rapid transformation and the global context in which they work so they can use projects to solve complex problems.
The world continues to see ongoing change and uncertainty, impacting our daily lives at home and work. The report helps our community of project professionals understand the trend lines reshaping the future – from the climate crisis to the ripple effects of shifting demographics.
Cultivating an understanding of the broader strategic environment
To take on these challenges, project professionals must be dedicated to not only developing strong technical skills, but also cultivating an understanding of the broader strategic environment impacting their projects.
To take on these challenges, South African project professionals will be increasingly required to build consideration for these global events into their strategies and planned outcomes if they are to ensure that they remain relevant in an age that is changing at a pace that challenges society.
Our project professionals must, therefore, be dedicated to not only developing strong technical skills, but also cultivating an understanding of the broader strategic environment impacting their projects.
The report, which draws on trend data, primary and secondary research, and interviews with project managers in the field, elaborates on six critical demographic, economic, and social trends.
These are:
- The impact of COVID-19, which significantly amplified digital disruption, with organisations quickly adopting technologies to enhance customer service, improve project outcomes, and facilitate remote working. Purpose, innovation, and an eye on the future will continue to guide companies in a post-pandemic world.
- Awareness of the climate crisis is prevalent in society, but action has been slow. In fact, just one-fifth of the world’s largest businesses have set net-zero targets. Sustainability practices will need to be built into every project and process if we are to counteract the most damaging effects of global warming.
- Demographic shifts, which unlike other parts of the world where workforces are ageing, will push South African organisations into finding new ways of accommodating our predominantly young population in the workforce and entering professions that can create growth in a digital age. Closing the shortage of skilled professionals by attracting talented young people into science, technical and technical will be a major challenge going forward.
- Economic shifts have exposed disastrous supply chain vulnerabilities and globalisation setbacks. Rebuilding domestic supply chains proves difficult and time consuming, but globalisation remains at historically high levels. With the right strategies in place, businesses can mitigate global supply chain risks and facilitate cross-border collaboration.
- Global labour shortages. Where the demand across the world is on retaining skilled people to counteract the impact of the COVID-19 on the throughput of new professionals and international opportunities opening for existing skilled people, the labour shortage in South Africa is multifaceted.
- Social protests continue and are expected to endure as drivers for social unrest spike. This is causing a growing desire among companies to set real change and collaboration in response to civil, civic, and equality movements, including true diversity, equity and inclusion programmes that give everyone the same opportunity to contribute and grow.
The future of work
As the future of work becomes more projectised, project-based skills are essential to helping professionals turn ideas into reality and overcome complex challenges.
In fact, the recent 2021 Talent Gap Report states that will need 25 million new project professionals by 2030. Professionals with project management skills and a broad, global perspective of macro trends will grow in The Project Economy, where organisations deliver value through the successful completion of projects, delivery of products, and alignment to value streams.
The need for transformation is imminent, and individuals and organisations must fine-tune skills that drive change. In today’s fast-moving environment, they must draw on a robust toolkit of capabilities to cultivate new ways of working and lead their teams forward.