Energy Project Management Trends To Look Out For In 2022

As technology advances, the way businesses operate must also advance. This is especially true in the energy industry. In order to keep up with the ever-changing technology and the needs of customers, energy project management strategies must also evolve.

In this blog post, we will explore some of the top energy project management trends expected to take place in 2022.

Energy Project Management Sector

In order to meet the growing energy demand, the energy industry is anticipated to undergo a substantial transformation in the next decade. According to a report by MarketsandMarkets, the global energy project management market is expected to grow from $10.48 billion in 2017 to $15.48 billion by 2022, at a CAGR of 7.0%.

The key factors driving the growth of the energy project management market include the increasing demand for energy, coupled with the need for improved efficiency and increased safety in the energy sector. The advent of digital technologies has also led to the automation of various processes in the energy sector, which is further aiding in the growth of the energy project management market.

Top Trends To Look Out For Energy Project Management Sector in 2022

Let’s look at the various trends to look out for in the energy project management sector in 2022:

1. The Internet of Things

The internet of things (IoT) is a term for the ever-growing network of physical objects that are connected to the internet. These objects can include anything from home appliances to clothing to cars. The IoT offers many potential benefits for businesses and consumers. For businesses, the IoT can provide opportunities to increase efficiency, optimize resources, and create new products and services.

2. Integrated project delivery

In 2022, the most popular energy project management trend will be integrated project delivery (IPD), which is a collaborative approach that brings together all of the stakeholders involved in a project to deliver it as a cohesive unit. IPD allows everyone to work together towards a common goal, which can lead to more efficient and effective project outcomes.

In order to successfully implement IPD, it is important to have clear communication and cooperation between all of the stakeholders, as well as a shared understanding of the project's goals and objectives.

3. Predictive analysis

In 2022, project management in the energy sector will be drastically different than it is today. Predictive analysis will be a key part of every project, as energy companies try to stay ahead of the curve and anticipate changes in the market.

This means that teams will need to be able to use data to make predictions about future demand, supplier costs, and technology trends. In addition, companies will need to be more agile, able to quickly adapt to changing circumstances. As a result, energy project management processes will need to be more flexible and streamlined.

4. Robotics and Artificial Intelligence

Energy Project management will change dramatically by 2022. Robotics and artificial intelligence will play a huge role in project management, making it more efficient and accurate. Currently, many projects in the energy sector are completed using human labour. However, by 2022, robots and artificial intelligence will be able to complete these projects more accurately and quickly.

This will allow for projects to be completed at a lower cost and within a shorter time frame. Additionally, the use of robotics and artificial intelligence will help to improve safety in the energy sector by reducing the number of human errors.

5. Green Energy

The energy sector is changing, and with it, the role of project management. In the past, managing energy projects has been largely about optimizing resources and ensuring compliance with safety regulations. However, in the coming years, project management in the energy sector will increasingly focus on developing and implementing strategies for mitigating climate change.

A number of factors is driving this shift. For one thing, public opinion is increasingly favoring action on climate change. Moreover, technological advancements are making renewables like solar and wind more cost-effective, and governments are starting to mandate that utilities incorporate more renewables into their portfolios.

6. Decentralized energy

Energy project management is constantly evolving and in 2022, decentralized energy will be a major trend. With the rise of renewable energy sources, such as solar and wind, and the fall of traditional energy sources, such as coal and nuclear, decentralized energy will become more prevalent.

In particular, microgrids will become more common as they allow for the distribution of renewable energy sources to small groups of users. This will help to reduce greenhouse gas emissions and increase the use of renewable energy.

7. New project delivery models

In 2022, project delivery models will continue to change. New project delivery models, such as Design-Build and Integrated Project Delivery (IPD), will become more popular as owners and project teams look for ways to reduce costs and speed up the delivery of projects.

In addition, the use of Building Information Modeling (BIM) will continue to grow, as owners and project teams look for ways to improve communication and coordination among team members.

8. What is the future of Energy Project Management?

The energy sector is witnessing a rapid transformation with the advent of new technologies. In such a scenario, energy project management is becoming increasingly complex. Here are some of the trends that are expected to dominate the field in 2022: The traditional sources of energy such as oil, gas and coal are losing their appeal.

Renewable sources such as solar and wind are gaining ground. This is forcing energy companies to adopt a more holistic approach to project management. The global community is increasingly focusing on sustainability. Energy companies are under pressure to reduce their carbon footprint. This is forcing them to adopt innovative project management practices.

Conclusion

The future of energy project management is looking bright, with new technological advances and changing attitudes among businesses and consumers alike. By 2022, we can expect to see even more innovative methods of managing energy projects, from AI-assisted project management to increased use of renewable energy sources.

For Project Management services, scheduling, risk assessment and mitigation plan and Project Progress tracking, please get in touch with us at info@energysaverweb.com.