Project Management

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INDEPENDENT PUBLICATION BY 22 / 05 / 2016 #0376 raconteur.net Although this publication is funded through advertising and sponsorship, all editorial is without bias and spon- sored features are clearly labelled. For an upcoming schedule, partnership inquiries or feedback, please call +44 (0)20 8616 7400 or e-mail info@raconteur.net Raconteur is a leading publisher of special-interest content and research. Its publications and articles cover a wide range of topics, including business, finance, sustainability, healthcare, lifestyle and technology. Raconteur special reports are published exclusively in The Times and The Sunday Times as well as online at raconteur.net The information contained in this publication has been obtained from sources the Proprietors believe to be correct. However, no legal liability can be accepted for any errors. No part of this publication may be repro- duced without the prior consent of the Publisher. © Raconteur Media STEPHEN ARMSTRONG Contributor to The Sunday Times, Monocle, Wallpaper* and GQ, he is also an occasional broadcaster on BBC Radio. ALISON COLEMAN Writer and editor, she is a contributor to Forbes, The Guardian, Director, Economia and Employee Benefits. CHARLES ORTON-JONES Award-winning journalist, he was editor-at-large of LondonlovesBusiness.com and editor of EuroBusiness. DAN MATTHEWS Journalist and author of The New Rules of Business, he writes for newspapers, magazines and websites on a range of issues. EDWIN SMITH Writer and editor, he contributes to publications including The Guardian, The Independent and The Sunday Telegraph. JIM McCLELLAND Sustainable futurist, his specialisms include built environment, corporate social responsibility and ecosystem services. DISTRIBUTED IN BUSINESS CULTURE FINANCE HEALTHCARE LIFEST YLE SUSTAINABILIT Y TECHNOLOGY INFOGRAPHICS raconteur.net/project-management-2016 RACONTEUR PUBLISHING MANAGER Richard Hadler DIGITAL CONTENT MANAGER Sarah Allidina HEAD OF PRODUCTION Natalia Rosek DESIGN Samuele Motta Grant Chapman Kellie Jerrard PRODUCTION EDITOR Benjamin Chiou MANAGING EDITOR Peter Archer CONTRIBUTORS Source: Project Management Institute 2015 Four smash-hit successes and four dismal failures all offer lessons to be learnt A star project manager tells how he netted success building Arsenal's football stadium Relocating an entire town in the Arctic Circle ranks as one of the most challenging projects NAST Y 'SURPRISES' CAN COST REPUTATIONS DEAR HOW TO LEARN FROM SUCCESS AND FAILURE EMIRATES STADIUM WAS A TEAM EFFORT MOVING EARTH, IRON, ICE AND A COMMUNITY Is it unrealistic to expect major projects to be delivered on time and within budget? 03 05 07 08 PROJECT MANAGEMENT Mindset and not toolset – it's all about people… Project management is a dynamic growth industry, but the boom brings with it significant challenges which must be overcome to establish this young profession OVERVIEW JIM McCLELLAND C an you have too much of a good thing? With new business breaking down the door and client hotlines ringing off the hook, the world of pro - ject management is about to find out. We have just passed the halfway mark in what the Project Management Institute forecasts will prove a dynamic, decade-long growth trajectory for project management from 2010 to 2020. Market value is expect - ed to mushroom by more than 50 per cent ($6.61 trillion) to reach a total economic impact in excess of $18 trillion. This global boom in project management is bringing jobs, cre - ating an estimated 11 million new roles, mostly in China, India and the United States. UK employment, meanwhile, is expect - ed to jump to just short of one million jobs. Such spectacular growth prospects set industry pulses racing, but the day job of a professional project manager is not meant to be the stuff of high drama, says Alan Macklin, UK director of government acquisition and support pro - grammes at CH2M UK. "In part, the objective of project manage- ment is to be boringly reliable in delivery of outputs to time, cost and performance, with no surprises. But behind the boring delivery lies the challenge of innovation," he says. In Mr Macklin's analysis, innovation is found in four key areas: advances in information technology; development of enabling con - cepts, such as agile; expansion into new fields such as finance and pharmaceuticals; and broadening of entry routes into the profession. Often championed as key catalysts for industry change are the megaprojects. These high-profile schemes enjoy the sheer spend and scale to drive inno - vation. But does size matter? According to Professor Andrew Davies, chair in the management of projects, at the Bartlett Faculty of the Built Environment, University College London, there is so much more to pro - ject management. "Size can bring many challenges, but it's not really the issue," he says. "What matters are complexity, uncertainty and urgency. All these dimensions call for new innova - tive ways of thinking." Professor Davies contends that the innova- tion journey in the built environment really began with Heathrow Terminal 5, where efforts were made to bring in new ideas and good practices from other megaprojects and industries: partnering from oil and gas; lean production from au - tomotives; and digital tech from aerospace. This transformative project proved a major learning experience, having a significant influence on mam - moth schemes to follow, such as London 2012, Thames Tideway Tunnel and Crossrail with its innovate18 dig - ital platform. It is debatable, though, to what degree learn- ing and knowledge gained on management of major projects actually gets transferred to the wider industry and smaller schemes. Steve Wake, chairman of the Association for Project Management and a thought leader in earned value, recognises this challenge of a roving project management elite. "The megaprojects are populated by the same herd of wildebeest. To their credit, they are creating learning legacies, so they leave more than their footprints. Howev - er, to be of national benefit, these legacies should be brought together in a common database," he says. The call to improve learning capture, which can advance professional capabil - The opportunity is there to bring in young project managers who have the vision of how technology can be used ity and build industry capacity, is also made by Martin Perks, project director at Mott MacDonald. "Constant movement of staff between consultants and across the market, becom - ing integrated into client organisations, means learning is recycled across smaller and more diverse projects," he says. "How- ever, knowledge management across busi- nesses has to improve on a formal level beyond sharing by osmosis." Digital working and collaboration can be a key driver of innovation and knowl - edge transfer, with project manage- ment part of this global megatrend, says London Underground director of capital programmes David Waboso. "Project management is moving with the digital age, with things like useful apps for staff that give them a mobile risk assess - ment tool to summarise incidents, allowing timely and informed decisions to be made on the go," he says. For David Swallow, programme director at Atos, digital promises a solution that could, though, become a problem for project man - agement. "Digital and the internet of things are already changing the landscape of pro- ject management," he says. "The pace is very fast and great strides have been made to leverage obvious benefits. "The opportunity is there to bring in young project managers who have the vision of how technology can be used. How - ever, young people coming into the indus- try have had tablets and iPhones for half their lives. They will be horrified when they see the technology they have to put up with at work and will vote with their feet. As a discipline, project management will have to find a way of delivering change that feels as easy as downloading an app." Described as a young profession, pro - ject management is facing growing pains. Fears of skills shortages are well founded, admits Mr Macklin. "There will be a significant scarcity of supply and successful delivery expe - rience takes time to build. In addition, the UK does not have the skills required in project controls to deliver the Nation- al Infrastructure Plan," he says. "The good news is we have a higher education platform on which to build these skills." In pursuit of maximum capacity and ca - pability, project management cannot afford to be insular or exclusive, either, argues Mr Swallow. He says: "We also need to make sure people from every discipline have pro - ject management skills. As project man- agement has become more professional, other disciplines have abdicated their need to focus on budgets and timelines. Project management skills are critical for techni - cians and change-agents too." In the face of onrushing global demand, this placing of human resource at the centre of the plan for the future of project management makes for clarity and con - viction, concludes Mr Wake. "The modern project manager is about mindset, not tool- set. We have all the method we need. It's all about people," he says. Share this article online via raconteur.net PROJECT MANAGEMENT INDUSTRY 2010–2020 2010 2020 $18.2trn +57% 11m growth jobs created $11.6trn 81% 80% Organisations fully understand the value of project management Actively engaged sponsors PROJECT MANAGEMENT: HIGH AND LOW-PERFORMING ORGANISATIONS High performers Low performers 45% 36% 40% 36% 35% 8% 9% 8% 57% 29% High alignment of projects to strategy High programme management maturity High project management maturity High portfolio management maturity

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