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The Project Economy Has Arrived

Updated: Jul 29, 2023

This HBR article: https://hbr.org/2021/11/the-project-economy-has-arrived caught my attention this week. "By 2027, some 88 million people around the world are likely to be working in project management, and the value of project-oriented economic activity will have reached $20 trillion.

But research shows that only 35% of the projects undertaken worldwide are successful—which means we’re wasting an extravagant amount of time, money, and opportunity.

To take advantage of the new project economy, companies need a new approach to project management: They must adopt a project-driven organizational structure, ensure that executives have the capabilities to effectively sponsor projects, and train managers in modern project management."


The author: Antonio Nieto-Rodriguez the author of several HBR articles and the HBR Project Management Handbook and a former chairman of the Project Management Institute as well as long career as a project & program management practitioner and leader argues powerfully that projects are now driving the global economy.


Must have project management skills
Must have project management skills

© changeboard.com

If that is the case then as he also states there is an urgent need for project management & leadership skills.


"In 2017, the Project Management Institute estimated that the value of project-oriented economic activity worldwide would grow from $12 trillion in 2017 to $20 trillion in 2027, in the process putting some 88 million people to work in project management-oriented roles—and those estimates were made before nations started spending trillions on pandemic-recovery projects." and, I might add, urgently needed energy transition/decarbonisation/NetZero projects The International Energy Agency (IEA) estimated after COP26 that the world need to spend ~ US$130 trillion on energy transition by 203if we are to meet the climate change mitigation targets, something I am now heavily involved with.


Here to help in my own small way, I offer international project management & leadership mentoring and coaching based on my long experience in a wide range of international capital projects (see my blog post https://www.markcowleyservices.com/post/my-wide-range-of-international-project-leadership-experience about my experience).

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