Unlocking Opportunities as a Project Manager in the Competitive Market

Written by Flavia Soares

Published on 03/08/2023 at 10:16

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Project Manager Institute (PMI) Releases Global Employment Trends in Project Management for 2023

The world is changing rapidly, and the challenge of staying competitive and relevant in the constantly evolving workplace can be daunting, especially amid ongoing disruptions and economic uncertainties. From now until 2030, 2.3 million people will be needed each year to fill open positions related to project management, according to the latest Talent Gap report from Project Manager Institute (PMI), the leading global association for project professionals and change agents.

Regarding the estimates of contributions and the deficit associated with the lack of talent in the field of Project Management, the report estimates a loss of 208 billion dollars due to the lack of qualified personnel for management tasks. The project-based economy contributed 20.2 trillion dollars to GDP, according to PMI.

The good news is that talent in project management is still in high demand. PMI recently released the Global Employment Trends in Project Management for 2023, showing that despite ongoing disruptions and economic uncertainties, this demand will only increase, presenting a great opportunity for project professionals to advance in their careers over the next decade.

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“Despite the uncertain economic landscape, project talent will continue to be in demand in the coming years. And fortunately for project professionals, careers are not limited to a single industry; opportunity exists in many sectors. And although the specific skills needed for project managers vary across industries, knowledge and understanding of emerging trends and technologies, mastery of essential skills, commitment to skill enhancement, and building a professional network are of utmost importance. Opportunity is everywhere for project professionals; be prepared when it arises,” warns Ricardo Triana, Executive Director of PMI Latin America.

So, what will these positions look like and how can you take advantage of these opportunities? Here are the industries to watch and ways you can enhance your skills to prepare for your next career move:

Consulting and ESG

While consulting used to be more aligned with professionals at the end of their careers to leverage their work experience, today it is a space for all project professionals. Project management consultants are often hired to implement organizational transformations, requiring them to keep up with the latest developments in new technologies like Artificial Intelligence (AI) and low-code or no-code tools.

A successful career in consulting also requires proficiency in interpersonal skills, such as communication and active listening – known as “power skills” – to provide the best possible guidance to employers and clients, solve problems, and demonstrate value aligned with organizational goals.

With the growing demand for organizations to invest in environmental, social, and governance (ESG) practices, this also opens a new path for project managers to build a career in ESG.

Financial Services

With this financial sector rapidly moving toward a fintech future, project professionals have the opportunity for a career in financial services to drive the industry’s digital revolution.

Gaining knowledge of data privacy, legal and regulatory requirements, and consumer expectations is crucial, as financial services companies seek to balance the pursuit of profit with innovation to redefine industry services.

By dealing with data privacy and regulatory factors that involve some risk, the PMI Risk Management Professional (PMI-RMP)® certification can help prepare this professional for success in the industry, from identifying threats and risks to developing mitigation plans and solutions for clients.

Moreover, being part of a professional organization like PMI provides opportunities to network with other project professionals in different sectors, sharing best practices and career experiences – including tips and strategies to enhance your skills.

“Some successful project managers do not have a traditional four-year university degree. But anyone with the desire, motivation, and passion for project management can succeed in their role, especially when pursuing advanced certifications and ongoing learning opportunities throughout their career,” concluded Triana.

Construction

Despite setbacks like inflation, the construction industry continues to grow and expand, creating job opportunities for project professionals.

If you are interested in starting or advancing your career in the construction sector, the opportunities are endless, with projects related to telecommunications, energy, water, and much more.

It is important to note here that construction as an industry is evolving. From AI to 3D modeling, drones, etc., project managers with technical skills and agile knowledge will be in high demand.

If you have at least three years of project experience in the construction field, the Construction Project Management Professional (PMI-CP)™ can help you acquire skills such as stakeholder communication and scope and risk management, using a specific construction context to prepare you for future opportunities in the industry.

Unlocking Opportunities as a Project Manager in the Competitive Market

Project Manager Institute (PMI) Releases Global Employment Trends in Project Management for 2023

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Unlocking Opportunities as a Project Manager in the Competitive Market

Project Manager Institute (PMI) Releases Global Employment Trends in Project Management for 2023

On the Greek island of Ithaca, archaeologists have found what may be a sanctuary dedicated to the legendary Odysseus, with inscriptions bearing his name and votive offerings that span from the Mycenaean to the Hellenistic era.

Scientists enter a narrow, flooded cave 500 meters deep and find giant dinosaur footprints on the ceiling measuring up to 1.25 meters, preserved in such a rare way that a new type of trace had to be created.

After two years of internal discussions, Paraguay has finally regulated the law that opens the country to foreign technology and service companies with tax incentives that promise to create thousands of jobs and change the economy.

Map reveals how the Earth may look in 250 million years: continents will reunite in the Last Pangaea, 92% of the planet could become uninhabitable for mammals, and Spain appears among the rare possible exceptions.

Why fighter pilots never return after ejecting: the seat launches the body at 600 km/h in 1 second, compresses the spine, reduces G tolerance, and leads to medical disqualification, not punishment.

With 1,000 buses sent abroad, the Brazilian manufacturer consolidates the strength of national technology and takes on a leading role in public transportation across all of Latin America.

A giant half-ton ring fell in Kenya from space, and more than a year later, scientists still do not know where it came from.

They seemed like common bones, but scientists were surprised to find a relic over 12,000 years old that dates back to before the Bronze Age.

With an almost perfect ring of 70 km visible from space, known as the “Eye of Quebec” and over 100 km in length, the Manicouagan Crater in Canada reveals the colossal mark left by a giant asteroid and has become one of the most impressive formations ever identified on the Earth’s surface.

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