{"id":61069,"date":"2023-11-01T07:37:36","date_gmt":"2023-11-01T07:37:36","guid":{"rendered":"https:\/\/www.akeron.com\/?p=61069"},"modified":"2024-05-10T10:21:00","modified_gmt":"2024-05-10T10:21:00","slug":"welcome-to-the-project-economy-age","status":"publish","type":"post","link":"https:\/\/www.akeron.com\/en\/2023\/11\/01\/welcome-to-the-project-economy-age\/","title":{"rendered":"Welcome to The Project Economy Age"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"61069\" class=\"elementor elementor-61069 elementor-61068\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a98ac4b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a98ac4b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-52ce2b0\" data-id=\"52ce2b0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b5b31df elementor-widget elementor-widget-heading\" data-id=\"b5b31df\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">What is The Project Economy?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7596aa6 elementor-widget elementor-widget-text-editor\" data-id=\"7596aa6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Project Management Institute (PMI), the main international organisation that spreads and advances the cause of project management, has recently defined \u201cproject\u201d as \u201c<em>a temporary endeavour undertaken to create a unique product, service or result\u201d<\/em>. Nowadays, more than ever before, it is clear that the \u201c<b>temporary\u201d<\/b> element mentioned in this definition is of paramount importance. If, on the one hand, technological evolution and <b>digital transformation have gradually dethroned approaches and skills<\/b>, on the other hand, prompt organisational and economic actions have become essential and a priority for every company. <b>The ability to quickly transform ideas into reality is now the determining factor of a company&#8217;s effectiveness.<\/b><\/p><p><b>\u00a0<\/b>This is the context in which \u201cproject economy\u201d, a term coined by PMI in 2019, aims to be a model for truly <b>transforming change into opportunity<\/b>. Quietly but powerfully, projects have displaced operations as the economic engine of our times. That shift has been a long time coming. The project economy is an extremely useful paradigm shift for managing both the innovation and the growing complexity now typical of every business sector. Whenever it is required to combine increasingly numerous and diverse skills, the project approach acquires further importance.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6025d45 elementor-widget elementor-widget-spacer\" data-id=\"6025d45\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4acb7f9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4acb7f9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0250aec\" data-id=\"0250aec\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f152347 elementor-widget elementor-widget-heading\" data-id=\"f152347\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Current picture<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f95cb3 elementor-widget elementor-widget-text-editor\" data-id=\"4f95cb3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In 2017, the Project Management Institute estimated that the value of project-oriented economic activity worldwide would grow from US$12 trillion in 2017 to US$20 trillion in 2027, in the process putting some 88 million people to work in project management-oriented roles- and those estimates were made before nations started spending trillions of dollars on pandemic-recovery projects. Data supported by a very precise statistic: organisations that have not adequately structured themselves in the context of change, report a 67% increase in projects that fail in the last five years, crushed by a too sudden transformation of one or more related factors &#8211; directly or indirectly \u2013 to the project itself.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a180fb9 elementor-widget elementor-widget-spacer\" data-id=\"a180fb9\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7d12ef1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d12ef1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1b4c6ea\" data-id=\"1b4c6ea\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-28e400c elementor-widget elementor-widget-heading\" data-id=\"28e400c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">People centricity<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a6f420 elementor-widget elementor-widget-text-editor\" data-id=\"3a6f420\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In 2020, Mohamed Alabbar, the founder and chairman of Emaar, the giant Dubai-based property developer, announced that as part of a shift to project-based work, the <strong>company had abolished all traditional job titles<\/strong>\u2014including his own\u2014and that employees would now be defined not by the department to which they belonged but by the projects on which they worked. In a similar move, the Richards Group, the largest independently owned ad agency in the United States, has removed almost all its management layers and job titles and now refers to most of its employees as project managers.<\/p><p>A planned (and hoped for) paradigm shift that will certainly have <strong>profound organisational consequences. Every single individual<\/strong> will be fully responsible for their own objectives, which in fact outlines a concrete alternative to corporate structures as we know them today. A model that tends to fostering human capital potentials, hence reducing hierarchy and bureaucracy to a minimum. Therefore, the project becomes the core of the company and it is no longer the result of top-down inputs and actions.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-377246b elementor-widget elementor-widget-spacer\" data-id=\"377246b\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-26f2048 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26f2048\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8f865ac\" data-id=\"8f865ac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2357420 elementor-widget elementor-widget-heading\" data-id=\"2357420\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The Principles of The Project Economy<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65ed933 elementor-widget elementor-widget-text-editor\" data-id=\"65ed933\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Continuous updating and training are the key words to address project economy as well as observing the three principles underpinning the model outlined by PMI:<\/p><ul><li><strong>Ability is agility:<\/strong> To fail fast and move to what&#8217;s next progressively is far more effective than a perhaps more brilliant but rigid strategy.<\/li><li><strong>Technology rules, but people influence:<\/strong> Technologies are only as smart as the people behind them, and people can be smarter.<\/li><li><strong>It\u2019s a project leader\u2019s world:<\/strong> Turning ideas into reality will be increasingly project based. In a scenario in which everything is destined to become a project, the impact on work will certainly be profound. The primacy of those soft skills that now can be definitively called power skills will be sealed. The operation of organisations endemically more and more fluid and agile will depend precisely on the cross-sectional nature of such skills.<\/li><\/ul><p>Projects used to be temporary, and operations permanent, but now the reverse is true. Operations keep you afloat temporarily, and change is what\u2019s permanent. Anticipating, managing, and driving change thus become the prime directives. And what\u2019s the best way to do those things? Welcome to The Project Economy Age.<\/p><p>Sources:<\/p><p>\u2013 Il Sole 24 Ore<\/p><p>\u2013 Harvard Business Review<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a3df2d elementor-widget elementor-widget-spacer\" data-id=\"4a3df2d\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Continuous updating and training are the key words to address project economy<\/p>\n","protected":false},"author":5,"featured_media":61238,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[45,1],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - 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