ePM Training Services

There’s a famous quote that goes something like “The only constant in life – is constant change”.

Project management is no different, so The Project Management Institute (PMI) regularly update their annual PM Network trends report; the third of which was released in June 2009.

So here are the five trends that PMI have identified for now:

1. Hyper Efficiency. There is simply no time for any wasted effort, as customers expect even more results than before. Any tasks that are not critical to achieving the project’s business result (as per the Charter), need to be eliminated. One good side-effect is that Project Managers are forced into increasing the efficiency of their projects, which makes them stronger. This should also reduce waste, which is another worthy goal.

2. Total Transparency. Everyone is nervous. An economic downturn is no time to be opaque, secretive or micromanaging. Project Managers need to be honest with their team, and let each team member know how their efforts fit in to the bigger picture of the overall project product, service or result. Sharing project information will help to increase team loyalty and efficiency.

3. Power Alliances. Companies and Governments are seeking out alliances to get their projects done, due to the difficulty of getting funding. One way of doing this is with Public-Private-Partnerships (PPP); sometimes called a win-win-win solution (Government gets infrastructure at low – or no – cost, private companies get more work, and the public benefit from the savings and the greater innovation that often results from this kind of partnership).

Here at EPM Training Services LLP we firmly believe in the power of partnership. In fact our company is a ‘Limited Liability Partnership’ (LLP) as we structured the entire company around a partnership of key individuals. The right partner can reduce risks and improve delivery time. On the other hand, the wrong partner can lead to a lack of project success.

4. Big Job Cuts. There’s no denying this one. As there are now less projects than before, there is a correspondingly lesser need for Project Managers. If there’s no project, then how can a PM’s position be justified? Fortunately the public sector still has many opportunities for PM’s with the right skills, credentials and experience. This is therefore a good time to get a credential like Project Management Professional (PMP) from PMI.

5. Near-sourcing. Many companies are looking to outsource some of their traditional work, mainly to save costs. The term ‘nearsourcing’ refers to outsourcing to a nearby country rather than a very distant one, to get a greater level of comfort.

The concept we use here in Singapore is called “Best-Sourcing“. This is a more flexible model, that allows for procurement of goods and services of the right quality at the right price, by evaluating Efficiency, Effectiveness and Economy.

So thanks to PMI for this latest information, and we’ll keep monitoring the trends looking for economic recovery and more projects to manage.