The world has been through tumultuous times and the sphere that has taken the brunt of this uncertainty is the economy. The turbulent economic atmosphere has tossed around with the markets all over the world. Now as things are becoming clearer and settled, new trends are emerging, new job markets are being created and the demand is back again.
One job market that is experiencing a boom is the one for Project Managers. At present, Project Managers are very much in the limelight and finding great prospects for future growth. This can be attributed to a growing international demand, outsourcing and also a growth in technology. According to a survey, 1.2 million positions will need to be filled in by the year 2016 and the demand is extending into healthcare, infrastructure development and even green technology.
It is definitely good news that project management as an independent career option is here to stay and individuals with industry specific skills and knowledge are much in demand. Many of today's jobs are for those who are able to bring in innovation into the market.
In a recent survey listing the top 50 jobs, that of a Project Manager was ranked at the fifth position. This speaks volumes about the growing demand all over the world. It is being quoted as one of the jobs that offer job security, future growth and probability job satisfaction. The other good news trickling in is that many organizations will be launching new projects and even restarting projects that were shelved in the tricky economic situation.
The job description of a Project manager changes with the specific needs of the organization but will generally include defining the objectives of a project, organizing the schedules, maintaining the quality level through the project. Over and above this, attaining resources, managing the team, identifying and minimizing the project risks completion completion also falls within the profile.
This is a profession that requires innovation at its maximum to keep up with the changes and the following trends may be kept in view while progressing with the profession.
• Rapid growth is happening in this sphere and is expected to be enjoying a growth rate of around 30%. The increasing growth rate will also lead to high demand but will be accompanied by competition at its highest. This in turn will lead to a requirement of specialization of knowledge to grab the best of the opportunities. One needs to keep looking out for opportunities to enhance knowledge.
• Globalization can be turned to advantage by aspiring Project Managers by gaining on knowledge and experience. Most of the organizations offer end to end services; hence one will need to work on portfolio management. Globalization calls for more skills and one needs to match up to that for a successful career outing.
• The changing nature of the world and its demands calls for more agility from organizations and Project Managers in turn. Planning a project will gain more importance as it will have to incorporate the changes that happen along the route. It may shift from long term plans to daily plans and weekly plans and achieving those immediate targets. The ability will be tested on speed, to design and plan projects that will probably undergo constantly changes. The challenges are more and one needs to really meet up to these challenges to gain a firm foothold in the industry.
• It is a war of talents and only the best will win. Skills and competency will be placed at the top of the table. Hiring organizations will be setting high standards to prospective Project Managers and recruitment will be held on a different plane alike. Those looking for openings in this field will have to be highly skilled and have enhanced knowledge.
• This field is no more limited to Project Managers now and organizations are scouring for talent everywhere. So, individuals will have to really prove their worth and acquire more skills.
• Organisations are on the path to realization that better business prospects require good Project Managers. Skilled individuals are much in demand and considered as valuable assets in the economic condition of today. A shifting preference is seen towards trained individuals who will propel the business goals of an organization.
• Innovation, quick changes in the global markets and the economic growth has created a complex business atmosphere which in turn requires managers who can handle the uncertainties and the challenges effectively.
With the number of aspirants for the job of Project Managers increasing day by day, hiring organizations will have to form some guidelines for recruitment. So, it may boil down to some extra qualification or the extra ounce of knowledge which may become the parameter for recruitment. Realizing this trend, more and more people are signing up for Certification courses which provide them the extra edge.
With a number of institutions offering certification in Project management, acquiring one can only be an asset. A Certified Project Manager has definitely an edge over other candidates. This along with expertise and experience can be an ideal combination. Certification programs are gaining ground among employers and those seeking employment as they add to the level of competency and efficiency of an individual.
The changing trends can be seen as organizations are investing in highly profitable project managers to give them the added competitive advantage. In a project manager, they expect to see a leader, an entrepreneur, a strategy planner all rolled into one. The focus of organizations for success has shifted from methodology to business and strategy. To take their organization forward, competent and qualified individuals are being brought to the forefront. So, in a nutshell, prospects for qualified Project Managers are bright on the industrial horizon.