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6 EFFECTS OF THE INTERNET OF THINGS ON PROJECT MANAGEMENT

Author: EGC

Published date: 2018/07

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Author, speaker, and futurist Jacob Morgan wrote in a Forbes article that, “The internet of things (IoT) is becoming an increasingly growing topic of conversation both in the workplace and outside of it. It’s a concept that not only has the potential to impact how we live but also how we work.”

The internet of things has also become one of those tech buzzwords that loses a little more of its real meaning every time a Silicon Valley wannabe carelessly tosses it around.

So what is the internet of things, really, and how does it intersect with project management?

THE INTERNET OF THINGS AND PROJECT MANAGEMENT

The IoT is essentially the global network of devices that can communicate with one another and end users through the internet.

As recently as two decades ago, this network was made up of computers almost exclusively. But in the last decade, the IoT has exploded through the proliferation of everything from smartphones, to microwaves and refrigerators, and even toasters, all sharing data with each other and the world around them.

That’s almost three devices per person, and each of those devices will be measuring data and facilitating communication.

Many major technology firms are developing their own IoT platforms, such as Amazon Web Services, Microsoft Azure, and Google Cloud.

But preparing for the IoT isn’t just a concern for megacorporations. Project managers and small business leaders also need to be ready for a connected workplace.

The IoT intersects with project management on everything from team collaboration to data collection. You can expect real-time status reporting via IoT to usher in a new era of dynamic planning and revolutionized project execution.

Data collection will happen seamlessly and constantly, allowing leaders to make more informed decisions. Inventory and resources will be easily monitored at all times.

Devices can automatically sense and respond to what is happening around them or in their network, reducing the need for human intervention, lowering operating costs, increasing response times, and minimizing errors. Moreover, customers can expect to receive better and faster service.

In terms of project management technology, the IoT will fundamentally alter the speed of project execution. Organizations that capitalize on the IoT will complete projects faster than those that don’t, and organizations that fail to adapt to the IoT revolution will be left hopelessly behind.

At least six things will change, which will require project managers to adapt both technically and systematically.

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Source: Capterra, June 25th 2018