This document provides an overview of a presentation given by Thomas Walenta on the future of project management and the project economy. Some key points: - Project managers will play a leading role in enabling organizations and empowering people to realize ideas. - The project economy extends beyond traditional project management to include areas like programs, portfolios, change management, and more flexible approaches. - Leaders must help organizations adapt to disruption by understanding changes, seizing opportunities, establishing near-term priorities for survival, and defining a new long-term vision and purpose. - Becoming more resilient involves principles like modularity, redundancy, diversity, prudence, embeddedness, and adaptability.

1. Future of The Project Economy™ in a
Disruptive World
PMI Karachi Chapter
May 2020
Thomas Walenta
thwalenta@online.de

2. 1974
PMI
member
Panasonic
19881983 2002 2014
Retired
start @ IBM
decide 4 PM career
first
project
PMP
freelance
Chapter 8yr
PgMPFellow
2014201219981992
Board BoardEthics 6 years
University Mathematics teach @ university
IPMA
member

3. As Project Managers
You are the leaders of teams and customers into a positive future
You will find some practical and some philosophical ideas in my pitch.
You may ask questions at the end or in the chat. You can get the deck.
It is up to you, if you want to deep dive or try out some ideas.
Or read a book. You may also contact me to discuss further.
In the global profession, in PMI, in the Chapter you find like-minded
people with similar problems – connect and help build the PM hive
Nobody knows what will be in a year (and never did) – but we all can
connect today in order to openly and fairly share ideas for the next steps
You are the reason I speak here today

4. We power The Project Economy™,
strengthening society by
enabling organizations and empowering people to
make ideas a reality.

5. Project
mgmt
P
r
o
j
e
c
t
E
c
o
n
o
m
y
The Project Economy™ extends project management into the future

6. Project
mgmt
P
r
o
j
e
c
t
E
c
o
n
o
m
y
The Project Economy™ extends project management into the future
PMI added more aspects to project management over time
Program
mgmt
Portfolio
mgmt
Brightline: strategy gap
PMI Educational Foundation: age 5-19
Disciplined Agile
Transformation compass
PMI

7. Project
mgmt
P
r
o
j
e
c
t
E
c
o
n
o
m
y
The Project Economy™ extends project management into the future
There are even more things going on in the world, quicker and quicker
Program
mgmt
Portfolio
mgmt
Brightline: strategy gap
PMI Educational Foundation: age 5-19
Disciplined Agile
Leadership / Team 2.0
Digitalization / AI
Transformation compass
Globalization (Human Hive)
Agile
PMI
World

8. Project
mgmt
P
r
o
j
e
c
t
E
c
o
n
o
m
y
The Project Economy™ extends project management into the future
Leading to a flexible North Star, which is much more than traditional PM
Program
mgmt
Portfolio
mgmt
Brightline: strategy gap
PMI Educational Foundation: age 5-19
Disciplined Agile
Leadership / Team 2.0
Digitalization / AI
Age 5-75
Society
Transformation compass
Security
Resilience
Globalization (Human Hive)
Operations
to projects
Roles to
gig jobsAgile
PMI
World

9. The Project Economy™ expands Project Management in relevant areas
Focus from … Extending to ..
Project delivery (scope) Value delivery (benefits)
Prescriptive, agile, hybrid Whatever works (best)
Professionals, careers Everybody (5 to 75), competencies for life
Process based Principle based
Projects Projects, programs, portfolios, change, ..
Work (how) Products and Results (what)
Business Business, Governments, NGOs, Society
SW tools, automation for processes Digital everywhere and AI for everything
Efficiency, Goal oriented Sustainability, Purpose
Centralized Regionalized, distributed
Siloed Connected

10. The Human Hive – a not so far future scenario
• many individuals – 9 billion in 2030, 2020: 4 billion connected
• intense communication, between all –
internet/5G, access everywhere, brain computer interface +
social skills, physical distancing, real-time
• common rites and behaviors – go back to human values
• different roles – specialty skills, AI?
• hive is more important than any individual (utilitarism) -
value of community stronger than that of individual freedom
>>>>>>>
• extreme diversity leads to unseen creativity
• Governance needs to change (role of nations?, leaders?)
• leads to democratization and demonetization

11. Status quo
Purpose
(beliefs,
strategy)
Market
(customers,
products)
Assets,
capabilities
Past
Role of Leaders in the Project Economy is to create Security
Business status quo balances purpose, market and assets
Purpose,
Strategy,
Culture
Market
(customers,
products),
environment
Capability
(people,
assets,
knowledge)

12. Status quo
Purpose
(beliefs,
strategy)
Market
(customers,
products)
Assets,
capabilities
Past
Role of Leaders in the Project Economy is to create Security
Disruption challenges market and purpose, but leaves assets
Disruption
Purpose?
Market??
Assets!
1 understand the disruption (reality)
1

13. Status quo
Purpose
(beliefs,
strategy)
Market
(customers,
products)
Assets,
capabilities
Threat
Crisis
Opportunity
Renewal
Past
2
Role of Leaders in the Project Economy is to create Security
Look for opportunities, grasp them quickly
1 understand the disruption (reality)
2 grasp and exploit initial opportunities
perceptions
Disruption
Purpose?
Market??
Assets!
1
Examples w/ Corona:
• Restaurants offering take-
aways
• Chemical plants producing
hand sanitizers
• Zoom, Teams, Skype
• Telco’s offering extra
bandwidth

14. Status quo
Purpose
(beliefs,
strategy)
Market
(customers,
products)
Assets,
capabilities
Threat
Crisis
Opportunity
Renewal
nearterm
Future
Past
3
2
Role of Leaders in the Project Economy is to create Security
Show a nearterm future for survival, mitigating threats
1 understand the disruption (reality)
2 grasp and exploit initial opportunities
3 show nearterm future (survival)
Disruption
Purpose?
Market??
Assets!
1
Examples w/ Corona:
• Get government help
• offer local ‘tourism’
• move to virtual business
• lookout for new customers
• re-purpose products

15. Status quo
Purpose
(beliefs,
strategy)
Market
(customers,
products)
Assets,
capabilities
Threat
Crisis
Opportunity
Renewal
near-
term
Future
long-
term
Future
Past
3
2
Role of Leaders in the Project Economy is to create Security
Re-establish a North Star: purpose, culture, strategy, market
1 understand the disruption (reality)
2 grasp and exploit initial opportunities
3 show near-term future (survival)
4 define a new future (new purpose?, new market?)
Disruption
Purpose?
Market??
Assets!
1
4

16. Transformation
Status quo
Purpose
(beliefs,
strategy)
Market
(customers,
products)
Assets,
capabilities
Threat
Crisis
Opportunity
Renewal
near-
term
Future
long-
term
Future
Past
4
3
2
Role of Leaders in the Project Economy is to create Security
Go for it! Panta Rhei (everything is in flow)
1 understand the disruption (reality)
2 grasp and exploit initial opportunities
3 show near-term future (survival)
4 define a new future (new purpose?, new market?)
Disruption
Purpose?
Market??
Assets!
1
5 transformation to the new future
become more resilient
5

17. Becoming more resilent - six principles
(Martin Reeves/Simon Levin on HBR 01/2016)
Resilience is the capability to master deep change without crisis
(Hamel, ‚Quest for Resilience‘)
Resilience is the best answer to disruption
Structure:
Modularity: autonomy, interconnected parts, known interfaces
Redundancy: mutual backup/checks
Heterogenity/Diversity: multiple options, different perspectives
Behaviors:
Prudence: mindfulness, explore and test, expect surprise
Embeddedness: sensitive to context, trust & reciprocity
Adaptability: flexibility, growth, sensing, feedback loops

19. Defining PMTQ – PMI Thought Leadership
Project Management Techology Quotient
Always-on
curiosity
All-inclusive
leadership
A futureproof talent
pool
Five essential team skills
1.Collaborative Leadership
2.Empathy for the Voice of the Customer
3.Risk Management
4.Innovative Mindset
5.Methodology or Framework Governance

20. PMP exam / 42% people skill questions from 1.1.2021
20
yellow = new in ECO

21. Yusra Mardini from
Damascus, Syria
Swimming Champion,
17 years old
A motor dhingi designed for 6,
loaded with 19 - 2015
Project:
Go from Turkey to Lesbos, 25km
Ø motor stopped, boat took water
Ø Yusra jumped in sea, followed by 3 others
Ø pulling the boat, keeping it afloat
Ø after 3 hours motor started – all were saved
A good person, a leader, a successful project
Ø Vision
Ø Action
Ø Results

22. What does it mean to be good person? Assume being ethical.
• What can I be to make project success more probable?
§ How can I interact with others for this?
§ How can I support the team to be effective?
me
Behave
ethical
they
Build trust
& security
we
Lead
effectively
it
Succeed
with the
outcome

23. Ethical values describe triggers to our emotions
23
Responsibility, accountability
Respect, mindfulness, tolerance, diversity
Fairness, justice, equitable
Honesty, truth, integrity
Freedom, autonomy
Community, family, relatedness
Compassion, Care, Love
Humility, reverence for life
8 human values found in most human cultures (Rushworth Kidder)
Compassion, care, love, help
PMI Code of Ethics and
Professional Responsibility

24. Example:
How fairness and reciprocity developed during evolution

25. 25

26. Emotional Intelligence – a base for leadership
self awareness:
confidence,
authenticity
self control:
mindfulness,
resilience
empathy:
learning,
understanding, listen
influence:
leadership, impact
compassion:
self-motivation,
flow
observe act
me
you

27. Some characteristics of ethical values
My ethical values – voluntarily limit my options for my action
(tools can be used for ethical and unethical purposes)
Culture is represented by e.g.
common behaviors, rites, norms, signs, perspectives, beliefs and values
Values connect people, they are commonly accepted & felt by humans
Beliefs divide, they define communities, are based on transferred experience
If beliefs are challenged, e.g. by disruptions of communities, values become more visible
We all are part of many communities and their specific cultures:
Family, Spouse, School, Job-role, Company, Profession, Hobby,
Clubs, Nation, Ethnicity, Gender, Religion, Language
Our identity is created in the intersection of these cultures
me

28. Global cultural system – a model to understand others
(based on A World of Three Cultures: Honor, Achievement and Joy by Miguel E. Basáñez)
3 hyper cultures Achievement Joy Honor
Legal system, historic
context
roman law, industrial common/case law, post-
WWII
islamic law, pre-industrial
Typical behaviors Punctuality / efficiency,
rationality, job > family
Family / friendship,
learning, sense of agency
Respect for tradition /
authority, patriarchy,
family > job
Key dominant values Hard work reward /
punishment (economic –
harmony vs mastery)
Trust / family (social –
autonomy vs
embeddedness)
Autonomy vs obedience
(political – hierarchy vs
egalitarism)
8 macro cultures Main religions Protestant, Judaism,
Confucianism
Catholicism, Buddhism Islam, Christian orthodoxy,
Hinduism
200 mezzo cultures Nationality Western Europe, US, China,
Japan, Sweden, Norway
Latin America, European
Catholics, Italy, Spain
Islamic countries, India,
Zimbabwe, Pakistan
800 micro cultures Language

29. Ethical decisions
Ethical decision-making types (Rushworth Kidder):
• Good-bad (easy – for most sane people)
• Good-good (dilemma), needs balance, experience, depends on situation
• shall I be honest and tell him he has a stain on his shirt or shall I respect him
as he is and not embarrass him? Honesty vs. respect.
• I am responsible to reduce headcount, how to be fair and respectful
• Moral courage (heroic), personal consequences, leadership action
• whistleblower,
• not taking bribes,
• standup against bullies
• best: reframe the dilemma so it becomes a solution

30. Reframing – changing perspectives
Value 1
Value 2 Value 1
Value 2
reframe
Widen your window of observation, so both values belong to the same reality – because they do.
Get from confrontation to conversation and creation.
• be honest and respectful
• be accountable and fair
Design Thinking
helps with reframing:

31. 31
Perspectives drive emotions drive behaviors drive change

32. Neuroleadership – SCARF (by David Rock)
a tool to improve emotional intelligence
Understand (and mitigate) automatic emotional reactions engrained in our brain
to observe/manage yourself (self-control) and influence others
Flight (fear)
Attack
(aggression)
Minimize
danger
Maximize
Award
Fairness
Certainty
Autonomy
Relatedness
Status
Think
LimbicSystem
Prefrontal
cortex
SCARF: five emotional responses of the limbic
system to be damped, if you want to be rational
32
Trigger Meaning
ask yourself a question

33. A PRANZO CON IL NIC
Fairness
In order to lead and influence, we have to understand motivations that
drive our reactions and try to smooth the triggers that might result in
emotions
Certainty
Autonomy
Relatedness
Status
As Project Managers ….
You are the leaders of teams and customers into a positive future
You will find some practical and some philosophical ideas in my pitch.
You may ask questions at the end or in the chat. You can get the deck.
It is up to you, if you want to deep dive or try out some ideas.
Or read a book. You may also contact me to discuss further.
In the global profession, in PMI, in the Chapter you find like-minded
people with similar problems – connect and help build the PM hive
Nobody knows what will be in a year (and never did) – but we all can
connect today in order to openly and fairly share ideas for the next steps
SCARF
(David Rock)
davidrock.net/
33

34. Values support positive emotions to enable ethical decision making
Responsibility,
accountability
Respect, mindfulness,
tolerance, diversity
Fairness, justice, equitable
Honesty, truth, integrity
Freedom
Community, family
Compassion, Care, Love
Humility, reverence for life
Status
Certainty
Autonomy
Relatedness
Fairness
8 human values
(Rushworth Kidder)
5 automatically triggered
emotions (David Rock)
Compassion, Care, Love
fear
lonely
forced
inferior
unjust
courage
hope
protected
empowered
valued
equal
How humans feel if emotions are
triggered positively/negatively

35. A PRANZO CON IL NIC
Personality style tools
Help with self-awareness and empathy
§ Help to understand your own strengths, weaknesses, habits, rites etc
§ Help to close the gap between self-image and the perception of others
§ Makes you more self confident
§ Help to better understand others: active listening, interpreting, empathy
§ Help to understand the fit to a team, and to assign roles
§ Help with interviews
4D team assessment (NASA)
DISC (4 styles)
MBTI (16 styles, Myers-Briggs)
True Colours / Hartmann
360 degree assessments
blue Need to look good
technically, be right, and be
respected. They are strong
leaders and love challenges
red Need to have integrity and be
appreciated. They are focused
on quality and creating strong
relationships.
white Need to be accepted and
treated with kindness. They
are logical, objective, and
tolerant of others.
yellow Need to be noticed and have
fun. They love life, social
connections, and being
positive and spontaneous.
Herrmann Brain Dominance
Instrument HBDI (GE)
Strength Deployment Inventory SDI
SDI: Blue-red-green
16PF questionaire (Cattell)
MBTI True Colors

36. Humm-Wadsworth model with 7 temperaments (1934, based on research)
1. Mover/Socializer – communicates, positive, talks quickly and often, smiles, comes late more often and apologizes, casual,
light colors, no tie, sneakers, funny accessories
emotion: communication
2. Politician – winning, power savvy, status, competition, comes late and does not apologize, overdressed, dark colors, well
dressed, strong handshake, direct eye contact
emotion: winning
3. Hustler/GoGetter – earn money quickly, show what you have, expensive watch, rings, gold, brand savvy, colors red &
gold , short term oriented
emotion: success
4. Artist – individuality, creative, colors black or fitting, amulets, casual but individual dress, beards
emotion: create
5. Double-Checker – safety, family, problems, sickness, lethargic, natural colors, big handbags
emotion: safety/security
6. Engineer – perfection, planning, structure, practical, technical accessories, drive completion
emotion: finish
7. Normal/Regulator – driven by reason, orderly, not be exposed, follows rules
emotion: order
Most people exhibit 2-3 temperaments
Can be used to explore yourself, quickly understand others and teams
http://www.emotionalintelligencecourse.com/eq-components/

37. What HUMM personality type are you? Judge all of them on a scale 1-10 (1 no, 10 yes)
Most people have 2-3 dominant temperaments.
HUMM can be used to understand yourself better, try to get a quick first view of others, adapt your approach to communicate,
analyse a team’s composition.
7 temper-
aments
Mover Politician Hustler Artist Double
Checker
Engineer Normal
Typical
observations
Communicates,
positive, talks
quickly and
often, smiles,
comes late &
apologizes,
casual, light
colors, no tie,
sneakers, funny
accessories,
Big network –
less friends,
joking,
entertains,
energetic,
laughs
winning, power
savvy, status, in
competition,
comes late and
does not
apologize,
overdressed,
well dressed,
perceived as
expert, often
say ‘I’, need
recognition,
arrogant,
stubborn, does
not give up, not
sensible, dark
colors
earn money
quickly, show
what you have,
flexible, sees
opportunity,
empathic,
materialistic,
risk taker, aware
of image,
dominant,
expensive
watch, rings,
gold, brand
aware, colors
red & gold
individuality,
creative, colors
black or fitting,
amulets, casual
but individual
dress, beards,
sensible,
idealistic, shy
away from
confrontation
Imagination
Visionary, be
different,
introvert
safety, family,
problems,
sickness,
lethargic,
natural colors,
big handbags,
little messy,
introvert, not
shy, friendly,
take critics
personally, slow
decision maker,
risk avoider
Task oriented,
perfection,
optimizing, love
details, focus,
planning,
structure,
practical,
technical
accessories,
outdated
clothing,
“German”
reason, not be
exposed,
follows and
appreciates
rules, orderly,
analytic, no
emotions, not
patient with
others, formal,
duty
1…10
(10 – full)
Goto menti.com and enter 37 01 65

39. Leadership competencies / treats
Core Leadership Competencies (Bradbury/Greaves)
Strategy
Vision
Acumen
Planning
Courage to lead
Action
Decisiveness
Communication
Mobilizing others
Results
Risk taking
Results focus
Agility
ØVision
ØAction
ØResults

40. Leadership can be seen when you observe a shift ..
From To
Uncertainty Certainty
Chaos Structure
Fear Hope
Vision Results
Activism Plan
Waste Discipline
Hesitation Decision
Narrow view Reframing
Confrontation Conversation

41. 41
Everyone
is a
Leader