Description of the industry

Submitted by Ruchi.Makkar@e… on Mon, 09/16/2024 - 15:13
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The project management industry is a dynamic field focused on planning, executing, and overseeing projects across various sectors such as construction, IT, healthcare, and business. Project managers are responsible for ensuring that projects are completed on time, within budget, and to the required quality standards. The industry requires strong organisational, communication, and problem-solving skills to manage resources, risks, and stakeholders effectively. As businesses and organisations increasingly rely on structured project delivery, demand for skilled project managers continues to grow globally.

There are several statistics indicating an increasing demand for project managers in Australia:

  1. Growth in Job Openings: According to the Australian Government's Job Outlook data, job openings for project managers are expected to grow strongly over the next five years, particularly in sectors like construction, IT, healthcare, and business services. It forecasts about 43,000 new jobs by 2026 in project management roles.

  2. Skills Shortage: Research by PMI (Project Management Institute) shows that Australia, like many countries, is experiencing a shortage of skilled project management professionals. This shortage is driven by the rapid expansion of sectors like infrastructure, technology, and energy.

  3. High Demand in Infrastructure Projects: The Australian Industry Group's 2022 report highlighted a growing demand for project managers due to a significant increase in large infrastructure projects funded by government initiatives, especially in transportation and energy sectors.

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