Project Management 4.0 - Project Management In The Digital Era

In this paper the characteristics of project management in the digital age are analyzed in terms of the influences specific to the fourth industrial revolution: projectification of society, digitalization, virtualization, coping with complexity, transnationalization, professionalization. These influences specific to the digital era and the fourth industrial revolution lead to a new stage in project management development, which we defined as Project Management 4.0 in the paper. This concept is defined as: project management specific to the Fourth Industrial Revolution; the fourth stage of project management evolution and a set of processes through which the projects are planned, organized, coordinated and controlled using mainly the technological tools specific to the fourth industrial revolution. Project Management 4.0 features are revealed in close connection with major project management components: time management, cost management, quality management, project team management, communication management, project risk management, procurement and resource management.