Project Economy in Digital World
by Tolga Ozel
Technology is evolving and enables great digital opportunities for connecting people, businesses, and communities. We can name it as Digital World which has characteristics of mobility, fast innovation, disruption, new ecosystems of value chain, agility; and transforming our lives in every generation. Digital world also described as VUCA world, which is Vulnerable, Uncertain, Complex and Ambiguous.
Business architecture as a whole has been transforming in the recent years with the leverage of digital capabilities. The new way of delivering value to end customer and the new way of interactions among competitors, suppliers and players from adjacent industries are being implemented. Companies do not no longer maintain supplier, producer, and distributer chain. In each domain different players can collaborate due to technology and information flow.
Digital solutions can join value chains, like Uber to join value chain of taxi business, like booking.com join hotel and tourism value chain, like Delivery Hero or Yandex Food to restaurant value chain. There are local and global scale examples.
In this world, Startup ecosystem is developing with a faster pace. Startups are able to return an idea to a business and create disruptive innovation easier than before. Therefore, investors and states are supporting the startup organizations.
The digital world we have created demonstrates us the existing digital capabilities during Covid-19 pandemic. Many activities, such as learning, office work, community development, shopping, etc are able to be conducted digitally and help us to stay at home to take the pandemic under control. Of course, it also demonstrated us the missing capabilities or opportunities of the “new normal’.
The new technologies are coming to our life. 5G, IoT, AI, Blockchains, Robots, Quantum Computers, Autonomous Vehicles, Additive Manufacturing, are being deployed. These technologies will bring great economic impact and new opportunities of innovations. Developing these technologies and innovating through these technologies will be subject of our projects.
The project management will still play a key role to bring ideas into reality and will form The Project Economy, which requires new skills and capabilities and new way of working of individuals and organizations.
Organizations are undergoing a fundamental shift in which projects are no longer adjacent to operations but instead primary to how work gets done and problems get solved. Today, Top executives have to run the portfolio that disrupts, that innovates, that expands and grow.
The value of portfolio, program and project management is still there and it is a leverage to enable innovation and deliver value to the stakeholders. On the other hand, it requires new capabilities to handle risks and opportunities of digital VUCA world.
Project management is no longer about delivering scope on time within budget. It is about creating innovation and delivering stakeholder value earlier. Therefore, project management practices will include Agile Techniques, Design Thinking Approach, Innovation Processes, Digital Transformation, User Experience Management, Cyber Security management, Entrepreneurship, and many other capabilities and skills.
Project Management practitioners will need to develop themselves in those areas and will have to integrate these aspects in their projects, which will aim innovation and delivering value faster. Exciting times for the profession.
Tolga Ozel MSc, PfMP, PMP, ACP,
PMI Region Mentor Eastern Europe
He built his 20+ years long professional career with major Telecoms Technology companies with both in Turkey and
cross-border activity in the South Asia, Central Asia, Southern Europe, CIS regions. He has experience in managing large scale and complex projects and in operating PMOs with over 1B Euro budget.
He currently provides Consultancy Service in BSS Transformation Program of MPT Myanmar. Previously, he was Principal Consultant at Pedersen & Partners Executive Search Firm for Technology Practice. Before, he was in charge of Director of Delivery & Services for Turkcell Account within Huawei.
He currently conducts volunteer service as PMI Region Mentor. He is Co-Founder & former President of PMI Turkey Chapter. Completed PMI Leadership Institute Master Class’2015. He is PMP certified since 2008 and The first PfMP holder in Turkey. Agile Certified Professional (ACP) holder since Jan 2019.
Tolga Özel holds a Bachelor's degree in Electrical & Electronics Engineering and a Masters degree with studies on Artificial Intelligence . He completed a corporate leadership program delivered by EMLyon Business School in France.
Tolga joins us on March 25th for a live webinar