In May 2021 McKinsey published a fascinating report from their 7th global summit. It focuses on 4 key themes:
- Digital and analytics transformation
- Collaborative project delivery
- Leadership and workforce development
- Future proofing infrastructure
The first is inevitable. Organisations such as Highways England have shared their plans to become a data driven project delivery organisation – the video is a compelling watch. Their vision will be driven down into the supply chain. The organisations who succeed will be those who are willing and able to build on the shoulders of those who have gone before. They are already making the “Move from experience-based to data-driven decision making—using shared digital, data, and analytics platforms, and collaboration across the value chain”. This future is inevitable.
The second, collaborative project delivery, holds the key to a data driven future. Without this, we will never amass the volume of data to unlock advanced analytics and AI. Those who hoard data for competitive advantage will be outperformed by those who work collaboratively to leverage insights from the end to end supply chain data pipelines. Although this will disrupt the commercial models for many, it opens up a brand new way of working which will transform the industry. The opportunities are vast.
The third point, leadership and workforce development, has been a key parameter for us for the last 5 years. From founding the project data analytics community through to up skilling people via hackathons and our Project Data Analytics Academy. If we don’t develop the workforce, we don’t incentivise people to respect their data. Rubbish in rubbish out. We need to drive change at a grass root level and inspire those who create data and derive insights from it to lead the change.
When we crack these 3, we will really open the door to a brave new world. We are already starting to see new roles beginning to emerge and the realisation from some that a number of legacy roles will become increasingly obsolete. We’ll see the more change in project delivery in the next 5 years than the last 50 years combined.
Hold on tight. An exciting journey awaits us. Ensure you are ready for it.