Top Project Management Trends
Hydrogen Combustion Engine Development
This emergence is best illustrated by Toyota that has design teams situated all over the world. The company is spearheading the development of hydrogen powered combustion vehicles instead of electric vehicles. The company believes that severe capacity limitations of batteries and charging stations will restrict the growth of electric vehicles. Charging millions of cars requires generation of more power from coal fired thermal plants and mining for lithium required for Electric Vehicles will only add to the climate crises being experienced in the world.
Hence an alternative mode of transport that does not rely on expensive electric batteries but an easily available and cheap source of power that has far less environmental impact, hydrogen will be dominate the playing field for vehicles in the future.
Given the need to optimise the design of such cars, design teams located all around the work have to collaboratively identify emerging technological advances and utilise them to finetune the design of such vehicles.
An example of such technological advances is the advent of Artificial Intelligence, AI. Using newly developed AI tools catalyses advancement in design of such cars as well as in the management of hydrogen combustion engine development projects. This is done through advancements in machine learning, natural language processing and other cutting-edge techniques that has made managing projects increasingly sophisticated and effective.
By leveraging on such advances the time to develop and test prototypes is reduced significantly to enable working prototypes to be showcased against the Electric Vehicles that have been capturing the existing markets internationally.
Based on the example above, three trends are emerging: remote project teams, the need for heightened state of agility to identify opportunities and Artificial Intelligence that catalyses the formulation of expertise required for projects to yield desired outcomes.
Interdependence of Trends
These emerging trends are in a sense interconnected and are deeply intertwined, amplifying each other’s impact. Projects undertaken remotely benefit from integrating expertise that exist in different locations. This integration is better streamlined and managed through the adoption of iterative agile practices that captures and converts emerging ideas into finished prototypes. This cyclic conversions are accelerated through the adoption of Artificial intelligence.
As demonstrated by the teams working on hydrogen combustion engine projects in Toyota, adopting an agile approach to identify quickly emerging client preferences can be significantly benefited by adopting AI powered tools. These tools automate routine tasks and provide predictive analytics to facilitate collaborative decision making in design development and marketing.
This enables agile team members working in different phases of the project and who are located remotely to focus on knowledge sharing that in turn enables them to deliver higher value at shorter time periods.
Such remote work can be better streamlined by enhanced communication and real time based knowledge sharing using AI tools. Such tools can automate meeting scheduling, transcribe discussions, and even provide sentiment analysis to gauge team morale. In this regard, AI tools enhances team bonding by eliminating non value added work that detracts team members from adding value to the project.
Agility Imperative
Adapting to the ever-evolving technological landscape demands project managers to engage in continuous learning and adaptation. The need to sense changing needs and requirements must be complemented with the ability to respond appropriately to that change. This will involve understanding not only how to use new technologies but also why they are being used and how to strategically integrate them into project workflows.
Assessing the value of new technologies and make informed decisions about which tools to implement as new challenges unfold is a key agility imperative in this regard. This requires a critical eye and an understanding how to adapt to changing needs of each project in a timely and agile manner.
Implications for the future of project management
In the near future, projects will not be considered as a separately identified function in an organization but will be embedded within the business itself. By 2030, it has been estimated that 80% of project management tasks will be automated. Such initiatives will be driven primarily by the adoption of AI tools by project teams working remotely.
By then, trends associated with remote project management, agile project management and Artificial Intelligence would have merged holistically as one key component of successful project management. If by then, project managers are not able to synergize the trends their ability to create value will be severely jeopardised. This is due to an expectation that by then, projects managers will need to be familiar with cybersecurity, blockchains, machine learning and robotics.
The need for project managers to take a deep dive into these emerging trends to seek out the interconnectedness and leverage on the synergizing effect they have is something that has to be taken seriously. Amplifying the potential of each emerging trend to deliver value to the organization, the industry as well as to the potential clients is fast become a competitive edge that project teams cannot overlook in the near future.
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