Overall, the 2020 trends for Project Management look promising for those trying to break into the industry, or those climbing up the ladder. Many industries are seeing a surge in the number of project management positions available.
It is likely with demand being at an all-time high, that recruitment opportunities will continue as the year progresses. Therefore, salaries in the industry remain lucrative and can be an attractive draw for people looking for a new career. At the higher end, growing needs for experts to embrace technology and show leadership create exciting prospects for someone already in the industry.
Expanding Technology Quotient
The constant changes in workplace technology mean that Project Managers will have to remain vigilant about implementing software evolutions at all times. Project Managers will need to demonstrate their abilities to manage, adapt, and integrate new technology or software that is deemed necessary to their employers or businesses. Project Managers with these skills will be able to see opportunities to implement new technology into their workplaces that will increase productivity and efficiency.
Mental fortitude and a strong personality
In 2020 the demands on a Project Manager will be more intense than they have ever been before. In a world where mental health and wellbeing are topical, it seems that Project Leaders will also need to develop strong mental fortitude to be able to juggle the varying tasks and complexities of each project. Whether they are balancing budgets, employees, stakeholders, or clients, Project Managers must be resilient enough to handle the varied and often challenging tasks that come with the job. Mental strength and confidence are crucial for anyone hoping to enter into a Project Management leadership position in 2020. The best way to ensure confidence is to upskill your knowledge with relevant qualifications.
Creating virtual and remote teams
As remote working becomes increasingly popular, so too does the need to manage staff based outside of the typical office or construction environment. In many industries, Project Managers will deal with staff beginning across a wide range of geographical locations and time zones. These remote staff, or freelancers, provide flexibility, time savings, and can help project managers with the resources required to assign clear tasks for completion.
When working in this sort of reality, Project Manager’s must be ready to put systems and procedures into place that ensure they can closely monitor the progress of their employees work and guarantee they are meeting targets.
Good news for salaries and qualifications
For those with a Diploma in Project Management, demand has never been higher. Those who have undertaken further education in these fields will see the benefit of better salary opportunities.
Below is the average to highest salaries in a variety of sectors with high demand for qualified Project Managers in 2020.
- Average Project Management salary in the IT sector: $145,000 – $160,000
- Average Project Management salary in the Construction sector: $160,000 – $180,000
- Average Project Management salary in the Engineering sector: $110,000 – $140,000
- Average salary for a Junior Project Manager (general): $101,000 – $124,000
- Average salary for a Senior Project Manager (general): $141,000 – $151,000
Automation from Artificial and Data Intelligence
Although the specifics are yet to be precisely mapped, there is a lot of talk about the inclusion of Artificial and Data Intelligence into the Project Management sector. The theory is that Artificial Intelligence will be implemented into the early stages of projects, for example, to create first drafts of programming schedules and create risk assessments and estimates.
Experts agree that Artificial Intelligence will automate much of the existing scheduling and tactical planning elements of project management. The flow-on will be that the role of the Project Manager will become about how to integrate technology best while maintaining crucial human relationships and communications with clients and stakeholders.
Global outlook improves
A global factor to consider in 2020 is expanding job markets. Countries that have established or rapidly developing project management industries have seen a spike in the job market, meaning the demand has significantly increased for these qualified individuals. Additionally, improving GDP creates drive and push for better industry outcomes, again creating demand for the Project Management positions.
Below is the projected global job demand for Project Management roles in 2020.
- Australia – 375,757
- Brazil – 1,364,932
- Canada – 582,366
- China – 24,906,557
- Germany – 1,642,058
- India – 8,857,845
- Japan – 2,610,663
- Saudi Arabia – 103,616
- United Arab Emirates – 57,731
- United Kingdom – 946,648
Highest demand industries
Many industries are experiencing a boom in projects that need to be strategically managed by qualified experts. The growth of many of these industries has resulted in increased demand for entry-level and expert project managers.
Some of the top industries include:
- Business services
- Finance and insurance
- Oil and gas
- Information services
Broadening your skills
With the emergence of new software and the increased impact that Artificial Intelligence will have upon the Project Management field, it has never been more important for Project Management Professionals to be highly skilled providers of services.
Choosing to undertake a Diploma of Project Management in 2020 will help individuals looking to get into the industry, or seeking to enhance their skills. A current qualification can give the skills and knowledge required to be competitive in the current high-need marketplace. Not only will a diploma or double-diploma teach current information, it always creates a favourable impression when an employee or a potential recruit has used their initiative to further their education.
Securing your place in Project Management
Although there are many new technological changes forecast, anyone willing to embrace these new developments will surely find themselves succeeding in their role as a Project Manager. Particularly with the introduction of Artificial Intelligence, the best tactic will be to discuss emerging technologies with the experts and figure out the best way to incorporate new automation systems into your project and company.
Ultimately, those who are committed to their work, and evolving with the field as it grows will find success as a Project Manager in 2020. Deciding to increase your value with a Diploma of Project Management (BSB51415) would prove to be a positive way to deal with all the project management evolutions and trends that we are expecting to see throughout 2020.