Amidst a backdrop of high inflation and economic uncertainty, many companies are implementing cost-cutting measures leaving the job market in a tumultuous state. However, despite this there are still many jobs available for those with project management and agile project management skills.
What does a project manager do?
Before we move into the future of the industry, we first need to consider what is project management and what does a project manager do.
A project manager is an individual responsible for planning, executing and overseeing projects to ensure they are completed successfully, on time and within budget. These individuals are tasked with guiding the project from its initiation through to its closure.
What skills do project managers need?
- Communication: Project managers need to be able to convey project goals, requirements and expectations clearly to team members and stakeholders
- Leadership: Project managers must lead by example, motivate and inspire their team, and make decisions that benefit the success of the project
- Organisation: Good organisational skills help project managers create and maintain project plans, schedules, budgets and documentation
- Problem solving: Project managers must be skilled problem solvers to progress a project through the challenges and obstacles which may occur
- Time management: Effective time management is crucial for keeping a project on schedule
Learn more about the qualities of a good project manager and how you can acquire these skills.
How project management is changing
According to the Project Management Institute’s Talent Gap Report 2021, 25 million new project professionals will be needed by 2030. It is no longer enough for job seekers to display technical abilities, soft skills or ‘power skills’ are now essential for those looking to secure a job in the sector.
The top most critical power skills according to the PMI Pulse of the Profession® 2023 report are:
- Communication (68%)
- Problem solving (65%)
- Collaborative leadership (62%)
- Strategic thinking (58%)
Sectors that need project management
The financial services sector is most in need of project managers, with it quoted as a sector to watch in Asia, Latin America and North America. Other sectors across the world that are seeing a need for project managers are:
- Energy
- Healthcare
- Construction
- IT
- Technology
- Manufacturing
- Tourism
- Government
The future of project management
The industry is seeing a mismatch in the skills organisations are seeking and the market’s available talent. Europe’s unemployment rate is 6%, yet 3% of the jobs available in the region remain unfilled. This is where training in a qualification such as PRINCE2® can prove useful, helping individuals to fill skills gaps or organisations to upskill existing employees.
Find out more about our PRINCE2 qualifications or the other ways to progress your project management career.