A New Era of Project Management using Blockchain Technology

Blockchain technology is being embraced in a wide range of application domains. Although usage is mostly in the financial sector, the effectiveness of this emerging technology is being investigated in other domains as well. In this chapter, we are interested in exploring the effectiveness of blockchain technology for project management (PM). Project managers can use blockchain technology to enhance the performance of any project. Blockchain can be used to communicate with all participants in order to define requirements, scope, budget, deadlines, and deliverables. Additionally, blockchain will identify, verify, and validate, all transactions. This technology can help simplify any issues that involve reconciliation, arbitration, or intermediation. The chapter will help both academics and industry practitioners to gain more understanding of the benefits of using blockchain for project management.