Five Best Industry Sectors to Showcase Project Management Skills
While beating the conundrum of Project Management Triangle remains one of the way points to succeed as a Project Manager, PMP credentials are the pearls of any resume, outshining academics and achievements. The PMP Exam Training Online module is the final and best shot to achieve PMP Certification. The top five industry sectors where project management has made and will continue to make a huge impact are:
1. Energy Sector
The burgeoning population will drive the demand for energy to mind boggling levels. Global investments over the next 25 years are expected to touch a staggering 20 trillion USD. The pursuit of economical energy and lower carbon fuels will mean more mega projects tapping into unexploited reserves. Despite advances in alternate sources of energy, oil and natural gas will account for 60% of global energy consumption.
A whopping 55% of ongoing projects were found to have experienced overruns in cost and schedule. A properly managed project aligned with the company's objectives would have stayed out of the 55% circle. The slump in oil prices not with standing, the resilient energy sector will see countless projects to power the globe and project managers will hold the key to successful implementation of all projects.
The five functions of management, according to Henry Fayol, appear tailor made to the aviation sector. Phenomenal growth is expected during the next 20 years, with addition of routes, flights and destinations to cover the increase in demand projected to touch the 7 billion people of the world. China, the U.S, India, Indonesia & Brazil will be the five fastest increasing markets during this two decade period. Project managers will be in demand in this industry that needs to run within the dimensions of time to stay relevant.
Projected to grow at around 5%, the healthcare industry will grow exponentially due to a global aging population, increased spending as a result of economic growth and better penetration of health insurance. With the pharmerging markets commandeering the projections pie chart, a very large number of new projects will be setup during this period by pharma majors, with reliance on project managers to man the cogs of project execution.
Robust growth is predicted as the construction sector bucks the trend and bounces back. A large number of project managers will be required to steer numerous projects without overruns in cost or time or compromising the quality and the objectives of the project.
5. Information Technology
IT was clearly the odd man among industries hit by the slowdown, progressing at the same frantic pace of development. The trend is expected to continue, driven by the growing needs in all sectors that are dependent on IT for applications and processes. Dynamic project managers will also be expected to manage a diverse workforce and align them with the objectives of companies.
6. Shortcuts to success, cuts short success
Project management has evolved from the simple Gantt Charts and the 14 principles of management to the present highly tuned system that has factored in all the metrics and parameters. The very act of a project manager seeking credentials is proof of commitment; sprint ahead in today's competitive world with the PMP.