Using Strategic Foresight to Improve Future Readiness of Project Management
AUTHORS
Nick Hadjinicolaou,Torrens University, Australia
Kleanthes Yannakou,Torrens University, Australia
Mohamad Kader,Torrens University, Australia
ABSTRACT
Project management is a strategic capability in organizations to adopt appropriate processes, structures, and practices now and in the future to improve performance and future resilience and flexibility. At present, there are methodologies for the assessment of present project management capabilities in organizations such as Capability Maturity Models. There are several trends and challenges that organizations are facing which will likely affect the capabilities that will be required for project management in the future. The approach adopted for the research was to conduct a strategic foresight methodology analysis to lay a foundation from which to develop a 'future readiness model' for project management. The future-readiness model is suggested to be a project management capability model which will allow organizations to:
• Evaluate the current capabilities using existing models
• Assess future capabilities required from a future readiness model
• Establish gaps for action to become future-ready
The research methodology consisted of a literature review of relevant academic and business articles and reports over the past 20 years, using an inductive qualitative approach, of project management capability models, future thinking, future trends, and challenges. The findings of the literature review indicate that methodologies for the assessment of present project management capabilities in organizations are well-researched. However, strategic foresight methodologies applied to understanding what future capabilities are required by organizations in project management are generally not researched and are an important gap in the literature. These findings imply that strategic foresight methodologies such as scenario planning can improve key areas such as strategic thinking, decision-making, and risk management for improved performance, future resilience, and flexibility. In conclusion, it is proposed that a future readiness capability model for project management should be researched and developed. This is particularly important as major trends are changing the way project management will be done in the future, such as the increasing adoption of emerging technologies including machine learning and knowledge-based systems based on artificial intelligence.
KEYWORDS
Capability model, Strategic foresight, Challenges and trends, Future resilience, Future skills, Emerging technologies, Future readiness model
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