Updated: Jul 29
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
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).