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KPMG recently came out with their annual global construction survey. One finding – although not very surprising – was an acute crunch of resources for the planning and project management.
45% of surveyed executives are worried about availability of planning and project management personnel. Limited availability of qualified and experienced professionals to manage projects is significantly hampering the project progress.
Few Good Men – High Demand & Limited Availability
Art of executing mega infra projects is declining and projects are becoming ever more complex. Project Management professionals need to thoroughly understand the engineering & construction projects for managing them. Since actual project experience is the only way to effectively train PMO professionals, they are limited in availability.
Hence project owners now have to compete with engineering & construction contractors to attract, train and retain talent which can bear the responsibility of executing multi-billion dollar projects.
Engineering & Construction is a rather traditional industry competing with other industries with much more modern and attractive work culture – where their best talent may migrate.
Dependency on External Resources
Surprisingly 87% of large organizations running projects of more the 5 Billion in value, rely on external resources to fill the gaps in their project teams. More than 5% of their project management teams come from external sources.
Empower Them with Tools and Automation
One executive in KPMG’s survey reported it was the most pressing need to “make sure we have well trained project managers with good tools to complete projects on time and within budget.”
The investment made in hiring process to get the best qualified and best experienced project managers, it is imperative to empower them with the best project management tools available.
Manage The Talent to Retain It
Hiring contract employees from external sources is not the best solution. Rather an effective talent management program for identifying, training and retaining talent internally can go a long way to boost the talent pool within organizations. Studies have shown that investment in training programs makes the employees feel valued and increases retention.
Reward Top Performers
To retain the best of the employee, it is important that they are correctly identified, rewarded and groomed. Identifying the top performers can be done by the managers with the help of work management software that tracks performance on tasks & projects.
Do you also face these challenges/questions? How do you manage them? Leave a comment below and let us know.
5 Comments
Alok Pal
January 29, 2016
Excellent, presentation of fact.
People, in TOP at project Management gives more weight age on Degrees, and less on practical experience & planning abilities.
In view of this if the age BAR is lifted with other way of Employment like Construction Support Consultants, or Technical Service Manager. etc
Then many OLD is GOLD Professionals will be NOT ONLY be available to work more than that they can train the NEXT Generation Project managers.
Project SUCCESS with Success and Can do attitude with a continuous Improvement like KAIZEN- lean management etc Project can go at rocket speed with safe landing.
However, In India and many countries, are looking for the Problems NOT looking for solutions, in front of them.
Right Trainings needed for next generation for better project Management.
Admin
January 29, 2016
Excellent point! Experience might be the most valuable asset when it comes to managing of engineering projects. And from that perspective, old is certainly gold.
As you have correctly pointed out, next generation of project managers needs to be trained by people who have repeatedly done it in the past.
Graham Clune
February 4, 2016
OLD is GOLD. Go tell that to all the high flying execs and tick the box recruiters.
liaqat hayat
February 6, 2016
talent scouting is a difficult job anyway
Chris Cooley
February 8, 2016
There’s no doubt that good talent is hard to find! Ask about ProEnergy’s “Talent Sharing” program. It’s not the answer for our talent crisis…but it’s a start!