Why Cross-Industry Experience Matters in Project Management

Project management skills are forecast to be in high demand over the coming years as the global economy becomes more project-orientated. According to figures from the Project Management Institute, by 2027, employers will need 87.7 million people working in project management-oriented roles as the practice expands within traditionally less project-orientated industries, such as healthcare, publishing, and professional services.

The unique blend of skills project managers bring to the table is the reason behind this surging demand. As outlined by the PMI Talent Triangle, this mix of competencies includes technical and leadership skills as well as strategic and business management. 

Cross-industry experience can help project managers build on each component of this triangle and position them as effective leaders who can navigate and solve a range of diverse challenges. In this article, we will explore some of the unique skills and insights project managers can gain from various industries, placing them at an advantage in their roles.

Healthcare

Project managers within the healthcare industry are keenly aware that small mistakes can have serious consequences. As a result, these professionals are adept at recognising risks and creating strategies to mitigate them before they arise.  This environment teaches project managers not only to spot potential pitfalls but also to have robust and effective plans in place to overcome them.

Just as clinical nurse leader programs equip healthcare professionals with valuable skills and training to improve healthcare outcomes, project managers in this industry learn skills and strategies to successfully implement healthcare systems and initiatives that they can then apply to other industries.

Finance

Project managers in the financial sector are no strangers to data. Their reliance on large numbers, analytics, and financial models allows them to make accurate forecasts and ensure they achieve their objectives within budget. 

This data-driven approach to project management is becoming increasingly valuable and sought-after as many other industries are realising the gains to be made from big data. For example, advertising campaigns can be optimised, and informed decisions around customer preferences can help decision-makers in the marketing industry target audiences more effectively and efficiently.

Construction

The construction industry teaches project managers how to become experts in scheduling and planning. These professionals need to manage several teams and coordinate a number of moving parts. Using tools like critical paths and Gantt charts to help them map out project timelines and a sequence of tasks to better determine the duration of a project, project managers in construction have the skills to ensure that complex and large-scale projects are smoothly executed.

Their ability to plan with such detail and precision can also be applied outside of construction to other industries such as event planning, supply chain management and product launches to ensure efficient and seamless coordination across all operations. 

Manufacturing

The manufacturing industry teaches project managers the importance of lean management principles like Kaizen and Just-in-time,  which equip them with the skills needed to refine and streamline processes and ensure continual improvement in processes.

Beyond the manufacturing plant, these principles can be applied in diverse sectors ranging from retail to healthcare, where waste reduction and improved efficiency lead to better service and outcomes.

Benefits of Cross-Industry Experience

Let’s quickly explore the perks of having cross-industry experience: 

1. Transferable Skills

One of the top perks of cross-industry experience is that it provides you with transferable skills. For example, project management skills such as time, cost, and management help employees secure positions in top industries, regardless of their core experience. 

Apart from that, skills like leadership, communication, and risk management are the most in-demand skills in the world.  The benefit of this expertise is that you can get into any niche as a project manager. 

Let’s take an example of a project manager transitioning from IT to healthcare. They can leverage their skills to make clear team goals and handle the juniors in a better way, regardless of the industry. 

2. Broader Perspective 

Cross-industry experience provides you with a broader perspective. Such a viewpoint brings diversity to your portfolio and makes you less constrained than the typical ways to search for jobs. 

Having such variety in your expertise, you can be better at the management of teams. Most importantly, you can quickly make your way to the top. As a matter of fact, CEOs and managers are expected to be jacks-of-all-trades in common skill sets such as SEO, social media management, marketing, and communication. A combination of a plethora of expertise enables you to combine many practices while removing outdated approaches. 

3. Adaptability 

Becoming well-versed in multiple fields makes you an adaptable person. Being a quick learner, you can easily enhance your grip on new terminologies and processes. Such a skill set fosters a growth mindset, allowing you to handle complex ideas and projects. In short, with more skills, you can be a dynamic person in project management.

4. Improved Collaboration

Working as a dynamic individual with many skills makes your collaboration effective. Such individuals are more likely to get ahead among other employees. On top of that, alliances and collaboration help you solve complex issues among teams and perspectives. Let’s take the example of a finance expert with dexterity in collaboration. He can guide the teams on technical decisions while ensuring alignment with the goals. 

5. Career Growth Opportunities

Finally, cross-industry experience solidifies your path for more career opportunities. Having a resume with soft skills like communication, speaking, leadership, and management powered with hard skills of the relevant skills enhances their demand in the eyes of the employers. In short, such features make you able to handle complex teams and manage various projects. 

While taking on cross-industry experience, you may encounter different types of challenges. These include having vast knowledge, credibility, and hiring bias. Overcoming these issues will make you a complete package, letting you quickly get new opportunities. 

Project managers from various backgrounds can find that their skills are not only transferable but also highly impactful in other industries, making them valued across a range of sectors.

Conclusion

In project management, cross-industry experience is a valuable asset that brings fresh perspectives, innovative solutions, and adaptability to diverse challenges. Professionals with exposure to multiple industries can apply best practices, identify risks proactively, and drive efficiency in ways that traditional, single-industry expertise may not. By leveraging insights from various fields, project managers can foster creativity, improve collaboration, and enhance overall project outcomes. As businesses continue to evolve in a fast-paced world, those who embrace cross-industry experience will be better equipped to lead successful projects and drive meaningful impact.