Project Economy

I have attended last month PMI Global Conference in Philadelphia and witnessed the major transformation of PMI to their new brand. It goes actually beyond the brand, it’s more of defining who is PMI now! Who is PMI with the digital transformation we are all living across the world.

This disruption is impacting our society and businesses, the way we live and work. Being in UAE, we are living these disruptors, we are living the Fourth Industrial Revolution presented in the emerging technologies such as the internet of things, artificial intelligence and machine learning, blockchain, big data and cloud computing. This digital transformation is changing the structure of the economy which is impacting every industry including Project Management.

PMI now is all about project economy, according to PMI, the Project Economy is one in which people have the skills and capabilities they need to turn ideas into reality. It is where organizations deliver value to stakeholders through successful completion of projects, delivery of products, and alignment to value streams, delivering financial and societal value.

Cindy Anderson, Vice President, Brand Management at PMI explains that “the importance of delivering value in ways that meet customers' ever-evolving needs, has meant that organizations must rethink not just the nature of work, but the way it gets done. The Project Management Institute has long advocated that all change in organizations – whether government, business, or not-for-profit – occurs through projects. We also recognize that “projects” are being led by people with a variety of titles, solving a variety of problems in industries big and small, and across all regions around the globe”.

This means, there is going to be a demand for new type of Project Managers, those who are multi-talented and can lead the change of transformation. Project managers need to enhance their skills and learn the language of big data, as many insights can be generated to support them and their project.

As we are at the board, educating ourselves about this transformation, I encourage you all as well to learn further about this topic by visiting https://www.pmi.org/The-Project-Economy

If you have any comments, ideas, or suggestions, please don't hesitate to communicate with us at info@pmiuae.org

Yours,

Laila Faridoon

President - PMI UAE Chapter