Project management is essential for India to achieve its overall growth targets.
Today, India needs to create infrastructure like never before. By 2030,
India will have more than 1.5 billion people and to provide necessary
infrastructure for all of them is a top challenge.
Ambitious government plans like Make in India, Digital India, and Smart
Cities have high dependency on infrastructure to make them successful.
Multiple mega projects will need to be executed at a high speed to cope
with the demand. And project management is critical for the successful
execution of such large projects. We have seen time and again how
infrastructure projects worth several billion dollars have gone into
time and cost overrun. Effective project management is critical to
complete projects that deliver value against the investment made within
the stipulated cost and time framework.
Unlike processes or operations, projects have a finite characteristic.
Projects have set beginnings and ends, and clearly defined outcomes. For
this, we need specialized skills which are not taught in-depth in
business schools. PMI is doing a great job by up-skilling this talent
pool to fuel the India growth story.Integral to industry's growth, recognitionManaging an IT project is not an easy job and is quite slippery because
of the constantly changing business environment. Generally all projects
are constrained by time, cost, and scope, and for any project to be
successful, these three constraints must be in symmetry. If any
constraint is out of equilibrium, the project has a higher chance of
heading towards disaster. In the IT industry, all projects move through
the five phases in the project management lifecycle, i.e. initiating,
planning, executing, monitoring and controlling, and closing. Each phase
consists of processes that move the project from idea to
implementation. This calls for the adoption of project management to
manage the project and resources efficiently, in a time-bound manner.
It is difficult to imagine the industry without the contribution from
project management which has helped many IT companies execute
multi-billion dollar projects for global companies with operations in
multiple locations. Quality, on-time delivery, and affordable costs are
critical for a customer. The IT industry recognized these imperatives
early on in its journey and has since been meeting these customer
expectations by adopting project management. The value in adopting
project management has led IT companies over the years to enlarge its
scope and refine its application.
The IT industry works almost entirely on project basis. From planning
and scheduling to managing critical interfaces with users and vendors,
project management is increasingly being recognized as a critical area
in the Indian IT industry.
Thomas Alva Edison, who invented the light bulb, said invention is one
percent inspiration and 99 percent perspiration. He emphasized the
importance of the creative element in achieving success. Today, IT
companies employ people who are creative and are capable of producing a
product or service that is unique and special. But what will make that
product competitive is the company's ability to market and deliver it on
time and within budget. And this can only be achieved with project
management to meet the global standards that their customers follow for
products and processes.Trends that are affecting project deliveryProject management has evolved during the past decade and now there are
various tools and new trends that are shaping the future of project
Agile project management techniques will continue to gain popularity in
IT projects. They are cost-effective, rely on selforganizing teams, and
appeal to human needs like autonomy, mastery, and purpose. And in order
for them to be successful, they rely on constant feedback. Their ability
to cut costs will continue to appeal to businesses as they struggle
through the recession.
Mobile collaboration will be the king. For project managers, it means
that they will have to deal with a workforce that is constantly on the
move, telecommuting, and maybe even working irregular hours.
Risk management will continue to be the buzzword. Risk management is
already an incredibly popular topic for project managers. But with the
growth of agile project management techniques, risk management will
become a necessity for project professionals. While there is software
available to help identify risks, they will still have to hone their
ability to identify potential budget or scope overreach and maintain
organization over their projects.
Cyber security will be at the front and centre of organizations. We have
seen how companies and government organizations suffered malicious
attacks this past year. With cyber attacks anticipated to increase,
security will become an important area for project managers. It may not
necessarily be the technology that goes into a project, but project
managers and their team will be responsible for ensuring that the
deliverable is secure.
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