6 Effects of Internet of Things on Project Management

Jacob Morgan, futurist, speaker and author, wrote in Forbes that the internet of things (IoT), is becoming an increasingly important topic of conversation both at work and at home. It is a concept that has the potential to change how we live and how we work.
The internet of things is also one of those tech buzzwords that loses some of its true meaning every time a Silicon Valley wannabe carelessly throws it around.
What is the internet of everything? And how does it relate to project management?

The internet of things and project administration
The IoT is basically a global network of devices that can communicate and share information with each other and end users via the internet.
This network was almost entirely computer-based two decades ago. The IoT has seen a surge in popularity over the past decade due to the proliferation of everything from smartphones to microwaves and refrigerators to toasters. All these devices share data with one another and the rest of the world.
Gartner, Inc. predicts that 8.4 billion connected objects will be used worldwide in 2017, up 31% from 2016, and will reach 20.4 million by 2020.
Gartner
This is almost three devices per person. Each device will measure data and facilitate communication.
Many large technology companies are creating their own IoT platforms such as Amazon Web Services and Microsoft Azure.
Megacorporations are not the only ones who need to prepare for the IoT. Small business leaders and project managers must also be prepared for a connected workplace.
The IoT can be used to improve project management, from team collaboration to data collection. Real-time status reporting via IoT will usher in a new age of dynamic planning and revolutionized the execution of projects.
Data collection will be seamless and continuous, allowing leaders make better decisions. You can easily monitor your inventory and resources at all times.
Devices can sense and respond automatically to what is going on around them and in their network. This reduces the need for human intervention, lowers operating costs, increases response times, and minimizes errors. Customers can expect faster and better service.
The IoT will revolutionize project execution in terms of project management technology. Organizations that take advantage of the IoT will be able to complete projects much faster than those who don’t. Organizations that fail to adapt to this revolution will be left behind.
At least six things are likely to change, and project managers will need to adapt both technically as well as systematically.

1. IoT allows hyperspeed reporting
IoT significantly reduces communication costs
The constant flow of data and hyperconnected devices that automate systems will accelerate things tremendously. There are no more idle periods between activities. No more silos between support systems like databases, storage, or IT operations.
IMPACT Imagine that you are an IT project manager and need to create a status report for all your organization’s laptop and desktop computers, tablets, and mobile devices. This process used to take several weeks. The IoT makes it possible for project managers to instantly report on the condition and quantity of all those pieces.
2. IoT allows for complete monitoring and process control
IoT allows project managers, managers, and stakeholders to monitor, control, and monitor activities in real-time. A single screen displays a complete system’s overview, allowing overseers to respond immediately to any interruptions.
IMPACT Sensors will be used to monitor and predict maintenance needs over the life of a project. The scope of devices, activities and conditio