The Project Economy Has Arrived | Harvard Business Review

Many organizations are moving towards a project-based work model versus one that is solely role-based. As work becomes more project-driven, one key benefit of the project model is it enables organizations to effectively and efficiently redeploy the skills of their workforce—where and when needed. This model also unlocks internal mobility opportunities beyond the constraints of a “job.” Despite these and other benefits, this article points out that nearly two-thirds of efforts to move to a project-based work model will fail. It offers suggestions for how firms can enable a project-based work model. Here is also a bonus podcast where the author expands on the points from the article. A few starter questions I believe HR leaders and their teams should ask in this context are: What skills should we build in our teams that enable them to operate and execute in a project-based model successfully? How do we equip leaders to be sponsors of projects? How do we utilize internal talent marketplace technology platforms to identify “hidden” internal talent to serve on projects? How will performance management change as we increasingly move towards project-based work? How does a project-based model change the type of skills we hire for? The answers to these questions can help shape aspects of a firm’s talent strategy.