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With constant advances in technology and new trends shaping businesses, it is essential to innovate to stay ahead of competition.

It comes as no surprise that an area as fast-paced and susceptible to change as project management, is set to see some new trends filtering in during 2018.

For increased profitability and productivity, it’s essential to keep abreast of these changes to ascertain exactly how you can incorporate them into your projects.

The benefits of such trends are largely financial but other advantages include better customer relations and a competitive advantage.

If you want to be ahead of the game when it comes to project management trends, discover more below:

 

Online Timesheets

Online timesheets are predicted to play a major role in project-based businesses this year, as they come with multiple benefits which can easily improve efficiency.

Having an online timesheet that can be completed using any device with internet access, allows staff to log their tasks remotely and in live time. This is great for those who work at home, or from different locations.

Time being logged as the work is being done, reduces the chance of mistakes being made or tasks being forgotten, and therefore makes billing more accurate.
Drag and drop scheduling tools allow timesheets to be pre-populated with enough details to keep everyone abreast of what they should be doing, when and for how long.

Efficient software

Project management software that offers integration to accounting systems is expected to rise in popularity during 2018.

Mistakes made when transferring data from one system to another can be avoided, as it will be sent correctly by default allowing for more accurate job costing and accounting whilst improving workflow.

As well as this, there is expected to be a growing demand for software that offers full multicurrency support to ensure that you can work seamlessly with foreign customers and suppliers – something worth considering if you are looking to grow your business globally.

More remote workers

 

As millennials begin to take over the workforce, they are bringing with them a different outlook on working life. Remote teams are becoming more and more prevalent in project management.

This is a great thing for project-based businesses as typically, remote workers have a higher job satisfaction and less time off sick. With new software developments, there is nothing stopping remote workers from collaborating effectively on projects and becoming part of a larger more flexible team.

Artificial Intelligence

More artificial intelligence (AI) is expected to be seen in project management in coming months.

As technology advances, it can begin to be harnessed for different tasks and could be utilised in business as AI starts to be used to optimise task and resource scheduling across multiple projects. Using AI, will eventually mean that tasks can be automated and insights inferred to make process recommendations and even decisions.

This could free up time for staff to spend on more essential, creative aspects of their projects and allows your business to be taken to the next level.

This year is expected to be an exciting one for those working in project-based business. Therefore, it is a good idea to incorporate these changes early, to avoid being left behind.

 

 

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