Jan
14

How will the National Innovation Agenda affect project management?

As the NISA continues makes waves across Australia, how can project managers contribute to ongoing innovation efforts to add value to the country?

Project managers have a key role to play in successful innovation.

Over the course of the year, Australian organisations and professionals have held an intense focus on innovation and how to best approach this concept. 

As we enter the final months, this discussion is gaining even more traction as the Prime Minister announced a new long-term initiative to boost innovation and science efforts over a range of industries. However, is it time for project managers to enter the fray?

NISA expected to bring benefit to many key areas

Announced earlier this month, the National Innovation and Science Agenda (NISA) will see the government invest over $1.1 billion in innovation efforts. Prime Minister Malcolm Turnbull stated that the funding will be a vital component of creating a better link between business strategy and research efforts.

Innovation requires better collaboration between businesses and researchers. Innovation requires better collaboration between businesses and researchers.

The NISA aims to create a culture of embracing risk, agility and the ability to learn through trial and error. A wide range of industries could potentially benefit from ground-breaking ideas and having the skilled people needed to find the value in new innovations.

While the government is planning on opening opportunities through increased venture capital activity and funding key areas, businesses still need to consider if they have the right professionals on board to see success in initiatives. 

How does project management fit into the agenda?

The Australian Institute of Project Management (AIPM) welcomed the new plans, stating that strong execution is vital for bringing the aims of the NISA into fruition. 

According to the AIPM, over 74,900 new roles will open up in project management by 2020. As Chairman Leh Simonelli explained, the need for leadership in this field will become even more important for firms looking to engage with the initiative. 

Over 74,900 new roles will open up in project management by 2020.

"Project Management is the discipline that will underpin the delivery of all of the initiatives in the National Innovation and Science Agenda, from technology to education and infrastructure,' he said.

"As a result, we must ensure that we have the right people with the right training involved in their delivery to ensure the highest degree of success and impact."

Another key consideration for innovation is increasing Australia's position in the international market. As the International Project Management Institute stated, this can be achieved through collaboration with other key players and better management of a business's portfolio. 

 If you think you are ready to drive innovative change in organisations, get in touch with our recruitment team. Ethos BeathChapman is an Australian owned Executive Recruitment Consultancy specialising in the $120k - $400k candidate market. 

By Matt Bown