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Development of competence for managing projects in industry 4.0 environment

RAJAT K. BAISYA[1]

Founder President- Project & Technology Management Foundation, India

Email: info@ptmfonline.com; Mobile: +91-9810266758/ 9930172180

 

Project management in last two decades has laid significant emphasis on people management and also on the areas related to people performance to achieve the project result. Voluminous research work and case studies are available in literature covering these areas and more particularly on competency, training, team management, leadership, people skills and quality etc. and their impact as well as influence on project performance and results.  In industry 4.0 or industrial revolution 4.0 environment, we will be witnessing a significant departure from earlier environment and there will be development which will redefine the way we will do business in this environment. Industry 4.0 will be influenced by technology in all spheres of human activities and there is going to be changes in the society as well as in all forms of human interfaces during next five to ten years, so significantly that we have not witnessed such changes in last several decades or may even in last century. Globally, it has already been recognised and also feared that lower as well as programmable middle level jobs will be mechanised and will disappear which is a matter of great concern to economists, policy makers, social scientists as well as politicians. The new technologies like artificial intelligence, robotics, block chain technology, biotechnology, nanotechnology, human genetics, supercomputing etc. will significantly impact the business all over the world. And these will also have remarkable influence on the way we will be managing projects of the future. Already there are lot of collaborative work and research are happening for managing these anticipated changes. Project management which hitherto was largely dictated by the quality of people and competency of the project manager, are now going to be influenced by latest generation technology like artificial intelligence and robotics. In this changed environment PM professionals and practising managers will need new set of knowledge and competency for managing the project in the age of digitisation.

In the presentation, we will discuss the impacts of technology on project performance and also what will be the key drivers for project performance in industry 4.0 environment. Attempt has been made to identify new competency parameters for managing projects in this new age of digitisation. Presumably existing PM certification process and scope may not remain totally relevant  enough to perform in industry 4.0 environment requiring new understanding of the processes.

[1] Prof Rajat K Baisya, is Distinguished Visiting Professor at Woxsen School of Business,  and National Institute of Technology in India and Visiting Professor at Faculty of Logistics, University of Maribor, Slovenia. He can be contacted at rkbaisya@hotmail.com.