“Projects and the changemakers behind those projects play a vital role in the global economy and society as a whole. While project managers are the quintessential changemakers, any individual who possesses project management skills can help steer change,” said Joe Cahill, Chief Customer Officer of PMI.
“Talent Gap: Ten-Year Employment Trends, Costs, & Global Implications” – a ten-year forecast of project management-oriented employment was recently released by Project Management Institute (PMI), the world’s premier association for project professionals and changemakers. On a global scale, the analysis found a continuing imbalance between the demand for project management skills and the supply of expertise. It also discussed why there is a gap, how economic growth is affected by it, and how organizations, as well as individuals, might work to bridge the gap.
According to the report, a rise in the number of jobs that require project management-oriented skills increased demands due to economic growth, and retirement rates will result in a global need for 25 million new project professionals by 2030, implying that around 2.3 million project managers will be needed each year to meet the demand. Organizations that rely on project teams to accomplish important initiatives on schedule and a budget may face a significant risk as a result of the skills shortage.
The impact of this gap might be seen on a global scale, with a potential loss of up to $345.5 billion (USD) in world GDP by 2030. This is a fantastic opportunity for project managers and changemakers who, regardless of their function, are inspired and equipped to drive change.
Project Management Professional (PMP) Certification
The Project Management Institute’s (PMI) Project Management Professional PMP certification is widely regarded as the “gold standard” of project management credentials. Getting the PMP certification can boost your careers in any field as it enables you to demonstrate project leadership experience and skill in every working environment, as well as assist employers in empowering applicants to work smarter and perform much better – more effectively.
Project management-related jobs are financially appealing because of their huge demand and limited availability of experienced talent. According to this PMI research, salary or compensation for project management-related professions in the U.S. were 78% greater on average in 2019 than the non-project management wages.
The report also shows the industries that are have been most impacted by this gap. According to data from the US Bureau of Labor Statistics, software development will be the largest and most successful project management-related position, with an expected increase of 14% between 2019 & 2030.
Highlights in PMI Research Report
- The report emphasizes the importance of projects, as well as their successful management, to industry and economic progress. The total GDP of project-based industries—those that require a lot of project management—is expected to rise from $24.7 trillion in 2019 to $34.5 trillion in 2030.
- China, Europe, and North America are expected to have the biggest share of GDP growth due to productivity improvements in projectized industries. Higher levels of productivity supported by project management-oriented roles will be critical for regions with lower GDP to maintain growth.
Upskill Yourself
By upskilling people and cultivating a learning culture, organizations may be proactive in empowering project managers and changemakers. Employers must today, more than ever, advocate for creative learning initiatives and form partnerships to educate employees with the necessary project management skills. Power skills such as collaborative leadership, business acumen to develop possibly the best employees, and perfecting innovative practices such as tech-enhanced problem-solving tools are some of the examples of these capabilities.
To close the talent gap and make a meaningful impact, upskilling the workforce and empowering a new generation of talent with project management skills has become vital. Hence, the rise in demand for PMP training courses.
Final Words
For project managers, the Project Management Professional (PMP) is the most sought-after industry-recognized certification. PMP certification enables project managers to work in a variety of sectors and locations across the world.
The project management community and experts review the training course before it is issued, ensuring that it always reflects the current status of the profession. Along with traditional IT & technical talents, organizations are now more focused on training leadership, negotiation, as well as dispute resolution skills. Through our globally recognized online PMP training, we provide our learners with the most up-to-date training that is suited to the industry’s need for the necessary capabilities.
Learn PMP with Cognixia and improve your skillset. Take a step toward bettering your job and future. Get a PMP certification course that is hands-on, life, interactive, and instructor-led. Cognixia is here to provide you with a very intuitive online learning experience, to help you expand your knowledge with interesting training sessions, and to add considerable value to your skillset in this competitive world.
This PMP training includes a variety of project management training topics, explaining the distinctions between project management and operations management.
The course will cover the following –
- Manage conflict
- Lead a team & support team performance
- Empower team members and stakeholders
- Ensure team members/stakeholders are adequately trained
- Build a team
- Address and remove impediments, obstacles, and blockers for the team
- Negotiate project agreements & collaborate with stakeholders
- Build shared understanding, engage and support virtual teams
- Define team ground rules & mentor relevant stakeholders
- Promote team performance through the application of emotional intelligence
- Manage project changes & integrate project planning activities
- Plan and manage scope and the quality of products/deliverables
- Plan and manage schedule, budget, and resources
- Engage stakeholders & manage communications
- Assess and manage risks
- Execute project with the urgency required to deliver business value
- Plan and manage procurement
- Manage project artifacts& project issues
- Determine appropriate project methodology/methods and practices
- Establish a project governance structure
- Ensure knowledge transfer for project continuity
- Plan and manage project/phase closure or transitions
- Plan and manage project compliance
- Evaluate and deliver project benefits and value
- Evaluate and address external business environment changes for impact on the scope
- Support organizational change
