Recruitment crisis facing project management

1.5mn talent gap needs filling every year, says PMI

NEWS, Business, Anderson Economic Group, Project management institute

Project management faces a talent gap of roughly 1.5 million jobs every year.

And according to Project Management Institute (PMI)-sponsored research with the Anderson Economic Group, there is no one to fill that shortfall for the next decade.

“We’re talking about 15mn jobs over a 10-year period,” said Mark Langley, president of PMI.

“That is largely as a result of two factors. One is growth globally, which has obviously been a bit slower in the last several years, but there is still a factor of growth and more opportunity. But also on capability, the demand.

There’s just not enough qualified people so there’s a real opportunity both for individuals and organisations.”

However, while quantity may be of some concern, there is no denying the need for quality when it comes to project management.

Langley said: “Organisations can no longer rely on what’s known as an ad-hoc or accidental project manager which is when they nominate someone in their organization that happens to be good at something to lead a project.

“They actually have to build a capability so they invest in career paths and invest in projects and program managers, ultimately because they recognize it’s distinct from a capability standpoint and it equates to delivering the strategy long-term.”

Latest research reveals that organisational leaders are changing their approach to strategy. Though executives know what they should be doing – 88% of them say that strategy implementation is important– 61% acknowledge that their firms often struggle to bridge the gap between strategy formulation and its day-to-day implementation.

“Organisations are beginning to realize that improving the alignment of strategic initiatives impacts project success and the success of the organisation. In the Middle East, in particular, they are achieving the tangible, bottom-line benefits that effective project and program management deliver,” said Langley.

“However, our report shows that many are still not aligned and suffer as a result. With a steadily growing economy and increasing global complexity, now is the time to refocus on aligning project and program management with organisational strategy to improve results.”
 

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