Are project managers agile enough to ensure industry transformation?

In the age of industrial transformation, project managers are even more vital to the success of organisations than ever before. Due to the nature of a project manager’s role, they will be at the forefront of the transformation, and leaders in pioneering new business practices, plus implementing new processes and procedures within an organisation.

Without a project manager in place, organisations open themselves up to the possibility of falling behind in their respective industries and being made redundant. By not keeping up to date with the latest industry trends and not having someone to implement the new way of business, organisations will surely suffer.

To keep up with the ever-changing times, project managers need to be flexible and adapt their skillset on a regular basis to ensure that they are agile enough to survive and thrive through the latest industry transformation. Project managers have a unique set of transferable skills that will help aid both them and their organisation in industry transformation during this age of digitalisation.

What is industry transformation? 

Industry transformation can be defined as a process of change that is triggered by a dependent variable or independent event. These events, whether technological or institutional, alter the ways in which organisations do business which in turn initiates a course of redevelopment across industries. Thus, the industry transformation begins.

Industry transformation has unique requirements for each industry, and it is not a ‘one-size-fits-all’ approach. Although requirements may differ depending on the industry, a common goal can be seen across the board; organisations and consumers want a simple, accelerated path to digital transformation and all the benefits that come along with it.

In the fast-paced era we live in, consumers want to have their needs met within an instant, and organisations that don’t go above and beyond with the help of the latest efficient technology and software are looked over.

In such a tough economy, organisations cannot afford to lag behind even for a split second before their competitors swoop in and poach their customers. This is why industrial transformation in the form of digital transformation is of vital importance for organisations that want to take part and be at the top of the digital revolution.

Welcome to the fourth industrial revolution

We are currently living in the early stages of the fourth industrial revolution, and we can see firsthand just how fast things have changed. From the ways in which businesses communicate with their customers, to the unprecedented connectivity of people across the globe, and the ease of life that technology can bring, the fourth industrial revolution is here and here to stay.

Industrial digital transformation is leading the fourth industrial revolution and refers to a set of innovative solutions for new business models and revenue streams. These consist of three fundamental pillars:

● Automation

● Improved manufacturing processes

● Production optimisation

This type of transformation is not limited to technologies used, but it also represents a culture of change that is integrated into all workplaces and a transformation in the way different teams are managed.

To keep up with the industrial revolution, project managers are needed to bring in the new systems, technology and processes, and continuously upskill in order to stay ahead of the curve. Only in this way can digital transformation have a real beneficial impact on the new way of doing business.

Challenges of the fourth industrial revolution

Technology is powering a change that we once thought was only possible in sci-fi movies, but over the last few years, we have begun to live in the future we only dreamed of. With transformation happening across the globe, and across all industries, the industrial revolution poses major challenges as well as ample opportunities for organisations working in this era.

Some of the major challenges posed by the fourth industrial revolution are:

Economic challenges, such as

● High economic costs

● Business model adaptation

● Needing excessive investment

Organisational challenges, such as

● IT security issues

● Avoiding any IT snags, as those could cause expensive production outages

● Lack of adequate skillsets to expedite the transition towards a fourth industrial revolution

● Low top management commitment

● Insufficient qualification of employees

With all change comes advantages as well as disadvantages, and it is the project manager’s responsibility to analyse and respond accordingly to every situation, and adapt business processes in order to lead their team to success.

Advantages of the fourth industrial revolution

The fourth industrial revolution has had a major impact on organisations across all industries and with the rise of AI, machine learning, and an ever-growing presence of technology designed to make consumers’ and organisations’ lives better; the fourth industrial revolution has hit the ground running.

Below are just a few of the advantages of the fourth industrial revolution that has brought us into the digital age:

● Improved bottom line

● Data-driven decisions

● Increase in productivity and efficiency

● Increased customer reach

● Enhanced customer experience

It’s no wonder that organisations and project managers are eager to be part of these exciting times by learning and upskilling on a constant basis in order to be prepared for what comes next, in business terms.

The long-term gains in efficiency and productivity brought forth by the fourth industrial revolution are changing the way we do business as well as the demands of consumers. The need to change business processes in order to meet the ever-growing demands of today’s consumers is of vital importance in order to retain customer retention and loyalty.

How the role of a project manager has changed

With transformations happening across the board, the project management field is no different. The change is taking shape through the adaptation of business practices, and the requirements and expectations from both a management and a consumer point of view.

In the project management field, this change is putting a sharper focus on the people, processes, and technologies that are needed to successfully execute projects from the ground up.

As project managers evolve from their traditional role, they need a clear roadmap in order to expedite the digital initiative within their organisation. The use of AI, machine learning, and other technologies within the field have made a project manager’s job more efficient, which in turn leaves project managers more time to focus on the people in their teams.

This will help both them and their teams develop sought-after soft skills, such as effective communication and resolving conflict within a team. By leaving more time to focus on the people in a team, a project manager can focus on their most valuable assets and get the best out of them.

Train and transform

With proper training and support, an organisation can enable project managers to become even more relevant, not just in the way they are needed to set the new standards within the business, but by also helping their team acquire new sets of skills that allow them to do their jobs more effectively.

To ensure industry transformation, staying up to date with the latest software and technology on the market, continuously learning and upskilling in the areas of your job description, and cultivating a curious mind are of vital importance to stay ahead of the curve. With access to a variety of both online and on-campus courses, upskilling has never been easier.

Upskill with the help of UCT and GetSmarter by choosing a course such as their Project Management Online Short Course to learn Agile Project Management and give yourself the tools needed to be a successful project manager in the age of digitisation.

Final words

Due to the nature of a project manager’s job, they are agile and flexible at their core which means that it will be relatively easy to ensure a smooth industry transformation within their career field of choice. That’s one of the best things about project management; it has become a flexible and always adaptable career choice that, with a little training every so often, can be future-proof for years to come.

Whenever there is a new breakthrough in the form of business management and processes, project managers are flexible enough in nature, and can easily adapt to these trying times, no matter the industry.

As key players in the success of digital transformation, project managers with constant upskilling are more than capable of bringing their organisations into the digital revolution. In order to be successful today – and in the future – emphasis needs to be placed on continuous learning and promoting an eager and curious workforce to keep up with the ever-changing times.