The Value of The Project Economy: Taking Your Organization to the Next Level
Posted by [email protected] on Dec. 12, 2022 / Announcement / Subscribe 0
We’ve shifted, by and large, in the west from an operations-based economy to one based on service, and with the advent of the internet, we’re experiencing yet another change: the shift from the service economy to the project economy. Projects have become the new normal.
PMI estimated in 2017, that the value of project-oriented economic global activity would grow from $12 trillion in 2017 to $20 trillion in 2027. Projects are becoming more important than ever before. And yet, this hasn't been fully realized.
It seems like we're headed toward a future where most people work on projects. In fact, we already live in such a world. But what a project entails has also shifted. Things that most people would consider services, such as Spotify, can be more accurately described as projects for a simple reason: in the world of AI, applications, and automation, no service can operate without constant iteration and change. The code base of Spotify, and other similar online services, are constantly changing. It is an ever-changing, ever-shifting, and ever-improving project even as the same provides an end service to the user. And that is the secret: even the change of an organization itself can be considered a short or long-term project.
When you truly look at the way our economy functions in the 21st century, project management is inescapable. Even if your company doesn't have a name like Microsoft or Tesla, most companies today are still very much project based. They're just not managed well. And that's why so many organizations fail. No longer will operations by itself keep a company afloat; it’s managing and driving change that will be what guides an organization toward success. The Project Economy will help you do just that.
What organizations need to realize is that project-based work gives meaning and importance to a job. Projects can be a motivational tool for employees in the workplace. However, some executives believe that projects are a waste of time and interfere with their daily activities. This couldn’t be further from the truth.
In order to pivot your organization to operate effectively with the changing times, you must enlist the services of a project management team. If you want to run a successful business, then you need to manage all aspects of it with an eye toward efficiency, flexibility, and evolution. This means managing each aspect of your operation, which includes marketing, customer support, human resources, and finance.
PMI San Diego is one of the largest consortiums of project management professionals in California and the United States as a whole. Contact us today to learn more about how our professionals can help bring your enterprise into the future.
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