PM Network - January 2017

India’s economy, population and demand for project talent just keep growing. The Interna- tional Monetary Fund has projected India will continue to be the world’s fastest-growing large economy this year, and the country’s urban population is expected to swell by 165 million by 2030. Infrastructure projects sustain much of that growth: The Hyderabad Metro Rail project, the world’s largest public-private partnership in the metro sector and largest elevated metro, is slated to transport more than 1. 7 million commuters once complete this year. The Gujarat International Finance Tec-City, now under construction, is just one ambitious megaproject in a proposed portfolio of 100 smart cities across the country.

By 2025, the McKinsey Global Institute estimates, India will have 69 cities with a population of more than 1 million each.

The urban transformation will fuel job opportu-
nities on infrastructure projects and will help India’s
construction market grow nearly twice as fast as
China’s over the next 13 years, according to PwC’s

Global Construction 2030 report.

“Engineering, procurement and construction projects are hot favorites for new project management positions,” says Sanjeet Teri, senior project controller, Noida, New Delhi, India.

But India will need more than buildings. Urbanization will trigger a dramatic uptick in projects in telecommunication, transportation, water and sanitation, and energy. Yet shifting government regulations and frequent cost reductions can trigger challenges, Mr. Teri says. The cost reductions occur because of increasing competition between contractors who lower their margins to secure contracts. Practitioners with experience in successfully navigating such scope changes and budget contractions will likely stand out from other applicants.

“I think India is going to take a leap in project management in the coming years, due to rising concerns about the professional management of projects and the surge in demand for practitioners with a higher level of maturity,” he says.

AT A GLANCE
2017 GDP Growth
Forecast: 7.5%
Median Project
Practitioner
Salary: US$25,840
Sectors to Watch:

Construction, transportation, telecommunications and energy

Still
Growing
Strong
How will the role
of project manager
evolve in 2017?

“The value
and respect
for project
managers
is growing
at a very
fast pace in South Africa.
As companies begin to
understand the value of
having proper processes
and governance in place
for projects, project
management will mature
in these companies.”
—Darpana Vallabh, PMP,
project manager, central
finance project management
office, First National Bank,
Johannesburg, South Africa

“Project
managers
must take
on a more
strategic
role. Traditionally, project
managers used to wash
their hands and walk
away when a project
was completed, leaving
their organizations to
take care of the benefits
or the loss. Now, project
managers are expected
to ensure the business
benefits estimated at
the project justification
stage are delivered.
Success is no longer
limited to time, cost
and scope; it will also be
measured on how they
deliver value through
benefits realization
management.”