How Internet of Things(IoT) relates with Project Management | Prescient Solutions Group - Accelerating Time to Value

How Internet of Things(IoT) relates with Project Management

For understanding first we need to understand, what is internet of things (IOT), It can be understood as a proposed development of internet in which everyday objects have connectivity through networks which allows them to send and receive data hence communicating through a channel.

internet-of-things

In some years the bigger projects will need a project manager that will not only handle the flow of work but also control a large number of some programs, understanding this by an example.

Amazon plans to deliver packages using drones, this includes a number of issues to be resolved. Firstly these drones would need to communicate with customers, corporate office, and employees and at some point air traffic controllers. Starting from research and development and going through up gradations this whole process indeed needs a project manager. A NEVER ENDING CYCLE.

Some people would say that the IOT is still embryonic or amorphous. It would be a disgrace to internet and the speed with which it is progressing that the IOT is not in a clear or definite shape.

But there are already a number of project managers working on IOT. And there would a huge impact OF IOTin the coming years McKinsey Global Institute.

Researchers estimate the potential economic impact of IoT technologies to be USD$2.7 trillion to USD$6.2 trillion annually by 2025.

The large organizations will have an overlap of projects that includes IOT. A program manager is neededto drive the strategy that effects the bottom line of company in a beneficial way. It will take years for companies to determine what IOT will do and how they should drive it, in order for them to produce successful business projects.

The internet of things is so broad. It will be the project managers who define the benefit realization plan and tells whether the program need to be sub divided taking into view its huge value.

The main strategy will be set by the company’s CEO, providing what will be needed and how things will be implemented, the responsibility of execution will be of the portfolio management. For example the task at hand is modernizing delivery. A better understanding of this can be perceived with the collaborative efforts of portfolio manager and the company’s chief executive officer. The portfolio manager in return tells what should be kept and what should be discarded to make this project a success for the company. Portfolio manager will have assistance of a governance committee led by CEO or any of the executive officials.

The internet of things and project management is a broad perspective that can be implemented in any or every field whether it’s construction, energy, medicine. You name it and it proves to be of great success.

Internet of things will provide a number of opportunities in the years or decades to come. Fasten your seat belts, and hold on for the new adventure and wave of jobs. Hence providing a greater step towards a brighter future.

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