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A discussion panel titled Project Economy, which was the penultimate session on the closing day of the Dubai International Project Management Forum 2023, featured two speakers: Eng. Mohammed Rashid, Chief Project Officer at Nakheel Properties, and Antonio Neto Rodriguez, author, practitioner and university professor.

Rodriguez began his speech by praising the forum, describing it as the most important event in this field in the region and the world. He explained that the term Enterprise Economy emerged 5 years ago, when it was devised through the concept of the macro economy, and from this standpoint, since then, it has had a special term, which is the project economy.

"To achieve the best results in the project economy, the elements of projects must be automated through the use of modern technologies such as artificial intelligence, robots and remote work to meet the most disruptive challenges facing project managers,” he said.

Rodriguez stressed that if companies undertaking projects wanted to make more achievements, they must start training and adapting their old leaders first before their young cadres because training old leaders on modern technologies is the biggest challenge. It requires changing mentalities to suit the development taking place in the world.

Mohammed Rashid stressed that companies and institutions must adopt successful strategies to attract talent and adopt modern technologies such as artificial intelligence. “They have to learn from projects during their implementation and not after completion, as it used to be in the past.  A key success factor in project management is focus on customers, passion for work, and the ability to adapt and change. These three elements form the foundation of projects success, regardless of their sizes,” he added.