Evolution and Challenges of Project Management

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The chapter delves into the evolution of project work, tracing its increase in complexity due to global crises like the financial crisis and pandemic. It emphasizes the need for companies to adapt to rapid change and discusses common challenges faced in project-based work, highlighting issues with leadership competencies, understanding project fundamentals, and focusing on delivering value and benefits. The chapter also addresses the challenge of balancing operational responsibilities with project-based innovation and suggests identifying key projects for innovation to ensure successful delivery.

Companies of every size across the world are basing more of their work around projects than at any time in the past. But research shows that nearly two-thirds of those efforts fail.

Antonio Nieto-Rodriguez, who has studied projects and project management for decades, argues that at least some of the blame for these failures lies with executives who misunderstand the fundamentals of projects and fail to dedicate enough of their time to those they sponsor.

In this episode, Nieto-Rodriguez explains how to get better outcomes from project-based work. He also discusses how to frame projects, structure organizations around them, and avoid common pitfalls.

Key episode topics include: strategy, project management, operations strategy, organizational change.

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