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PMI: PM Profession to Grow by a Third by 2027

Project management isn’t going away anytime soon. A new assessment commissioned by the Project Management Institute found a “dramatic increase” in the number of jobs that will require “project-oriented skills” over the next decade.

These aren’t all positions specifically for project managers; they also include jobs in which the individual needs project management skills. The analysis found that by 2027 employers will need nearly 88 million people working in “project management-oriented roles,” a growth of 33 percent across the 11 countries studied.

Because so many project management professionals will be retiring over the same timeframe, PMI has identified a skills gap that will cut into the growth of organizations worldwide, especially in quickly developing economies such as China and India, which will need to fill 46 million and 22 million project management jobs, respectively, by 2027. The United States will have 2.1 million openings in which project management skills are part of the job description.

The sector that will feel the biggest squeeze globally is healthcare, which will see 17 percent growth in project management demand in the next 10 years, followed by manufacturing and construction and information services and publishing.

“As the project management profession continues to show considerable growth, the global shortage of project talent will present exceptional opportunities for qualified professionals to begin and advance their careers,” said PMI President and CEO, Mark Langley, in a prepared statement. “Executives will face increased financial and human resource risks due to this talent gap. Organizations will find themselves competing for this critical talent, so it’s essential that they implement best practices, as finding and retaining qualified project personnel can positively impact an organization’s strategy and bottom line.”

PMI worked with the Anderson Economic Group to develop its findings. This was the same company that worked with PMI in two previous “talent gap assessments” in 2008 and 2012.

The complete nine-page report is available on the PMI website here.

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