Digital Transformation and Project Management
I am sure lately, you might be as surprised as me to see the role of digital transformation in project management. Nowadays, many companies adopt diverse digital transformation technologies in various situation. Let’s unfold the term and see its significance in project management.
Though Carl Benz designed the very first vehicle in 1879, Henry Ford is often known as the father of the American car industry. He revolutionized the manufacturing of vehicles and made cars inexpensive. He then trained employees to adopt a step-by-step assembly line production using uniform and compatible parts. Subsequently, this production model was adopted by numerous industries allowing mass production of vehicles. Further, let’s talk about the industrial revolution which took place from the 18th-19th centuries. The revolution transformed Europe and American societies into urban and industrial. In addition to iron and textile businesses, the steam engine played an important role followed by improved systems of communication, financial transactions, and conveyance.
The Digital revolution is proceeding fast in project management. Professionals who are aware of big data help them connect to clients and stakeholders with enhanced efficiency and therefore creating opportunities to stay ahead of the competition. The digital platform offers significant improvements to traditional business models. For instance, web-based initiatives influence digital infrastructure and help businesses move with precision in the new digital economy such as cybersecurity, cloud computing, blockchain, and artificial intelligence.
The internet of things (IoT) and Digital Transformation
The internet of things (IoT) plays an imperative role in digital transformation in project management enterprises. With an appropriate level of integration, internet of things associates the physical assets and the IT groundwork. That way, it enhances the efficiency of supply chain management, asset tracking, resource scheduling, and assist organizations in achieving a better profit on investment. It isn’t just a technological trend but a way to revolutionize experiences through innovation, therefore, meeting the customers’ expectation. Technologies such as Al and blockchain are setting the sequence for digital transformation at the pace of client experience.
Speaking of bitcoin which was invented in 2008, blockchain solves some of the major issues associated with digital economies. From data preservation to networking proficiencies, it allows the information-sharing needs of modern business. As a result of monitoring, processing, and connection efficiencies, Santander Bank states $20 billion per year in savings from using the technology. Every form of commerce and value is set to be changed by blockchain letting consumers have the protection they need in a new economy. With the consistently improving technologies, we see a significant shift in companies moving from email-based communication to innovative tools such as Slack. A more complicated form of digital transformation is configuring products and services around digital capabilities and encompassing one or more of these things:
Using data to create internal or client-facing analytics.
Enhancing software development to improve current products and services.
Reforming the sales channels considering online user behavior.
Let’s look at some of the key trends reforming the modern workplace and how they improve traditional project management techniques.
Cloud Technology Allows Remote Working
Remote working is increasingly becoming popular. Project managers can easily connect and collaborate with other team members regardless of where they are. It helps them to:
Manage teams across large distances
Allocating resources depending on where teams are dispersed
Communicating with remote employees and check their progress
Resource Management Software
An appropriate and advanced resource management software can offer complete visualization over resources in real-time. To handle numerous challenges posed by large teams, project managers require tools that provide data in real-time. In this way, they have better control over projects progress. Through effective resource management software, project managers can update project schedules and communicate changes if any. Planning and responding are two key aspects of traditional project management. With cutting-edge digital technology and tools, you can gain better insights that help project managers come out with the best possible outcomes. They can move resource data around and observe how potential changes will influence project success. This was a time-consuming process in olden days when data was manually put into spreadsheets.
Data and Analytics Provide New Insights
Data gathering is important, though that data doesn’t make sense if you don’t have any tools that transform it into actionable insights. With advanced digital technology, you can have sufficient visibility required for project managers to use resource data intelligently.
The right data and analytics tools organize and evaluate the data
Optimize resources and enhance outcomes
Report resource information and insights to key stakeholders
Digital transformation enables the introduction of active and advanced practices. Becoming digital allows an organization to be more responsive to clients’ needs, active in collecting client feedback, and more adaptive to fluctuating market conditions. The right time to restructure businesses around digital capabilities!