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The Project Economy Has Arrived, and Why Project Management Had to Be Reinvented

Antonio Nieto-Rodriguez
World Champion in Project Management | Thinkers50 | Sustainability Transformation Program Director | PMI Fellow & Past Chair | Professor | Author | Executive Coach

Based on his recent featured HBR article, the keynote will talk about the Project Economy. In fact, in the next five years, the world will see more projects than ever. After the devastating global pandemic crisis, the reconstruction of the economy, healthcare, social care, and society at large will be unprecedented in human history. According to McKinsey, Governments’ have announced $10 trillion in reconstruction funds just in the first two months of the crisis, which is three times more than the response to the 2008–09 financial crisis. These are millions of projects that will need millions of project managers.

We are witnessing the rise of projects as the main unit of work and the essential model to deliver change and create value for individuals, organizations, and society. The move from a world driven by efficiency to a world driven by change will have enormous consequences in terms of strategies, culture, organizational structure, competencies, compensations, etc. More and more work will be carried through projects. We will soon all become project managers.
Yet, about 70% of projects fail to deliver their objectives today. We urgently need to step up and significantly increase the project success rate. Considering that approximately 48 trillion US dollars are invested annually in projects, we fail to deliver trillions of benefits, value, and impact on organizations and society. It is colossal, unbearable, and embarrassing. What if we commit to doing much better? if we increase our success ratio from 30% to 60%? Just imagine the amount of value that we would be adding to the world, approximately the GDP of Africa in extra benefit. Imagine if we do that not only in 2022 but year after year.

To achieve this incredible goal, project management and project managers will need to reinvent themselves, ... you will find out all the details during my keynote...
“There are fewer “low-cost” ways of working more inclusive, impactful, motivating and inspiring than being part of a project with an ambitious goal, a higher purpose, and a clear fixed deadline.” Antonio Nieto-Rodriguez

Key Takeaways:

  • What is the project economy, why will it impact everyone, and why will it disrupt every organization
  • How does project management need to reinvent itself to deliver projects more successfully
  • Which skills do you need to develop to succeed in a world driven by change