Business Wire

Organizations Waste an Average of US$122 Million per US$1 Billion Spent on Projects

Del

Project Management Institute’s (PMI) 2016 Pulse of the Profession®: The High Cost of Low Performance reveals organizations around the world waste an average of US$122 million for every US$1 billion spent on projects as a result of poor project management practices. This represents an increase of 12 percent over last year. Amid worsening project outcomes, increased competition, an uncertain economy and other disruptive global trends, the report identifies a number of ways organizations can improve their performance.

The 2016 Pulse of the Profession findings show that organizations that effectively use formal project, program and portfolio management practices waste 13 times less than organizations that don’t; however, the report also demonstrates that few organizations are successfully embracing these proven capabilities. The report concludes that organizations should place a greater emphasis on project management training and development, strategic alignment and benefits realization. Further, more organizations should utilize executive sponsors who can lend project support from the C-suite.

“Again this year, our Pulse of the Profession findings demonstrate that organizations aren’t paying enough attention to their ability to execute against their strategy. Projects, even those identified as an organization’s strategic initiatives, are failing, which results in wasted money, resources and time. That is not a sustainable business practice, and it is time to focus on what matters,” said PMI President and CEO Mark A. Langley. ”Organizations must take another look at project management as the strategic competency that drives success.”

The 2016 Pulse of the Profession features feedback and insights from 2,428 project management practitioners, 192 senior executives and 282 Project Management Office (PMO) directors from a range of industries including government, financial services, information technology, telecom, energy, manufacturing, healthcare and construction. It also includes insights from eight corporate leaders and 10 PMO directors and directors of project management. The global totals in the report represent feedback from North America, Latin America, Europe, the Middle East, and the Asia Pacific region.

Of the geographic regions covered in the report, the Middle East reported the lowest average monetary waste on spending projects: US$99 million per US$1 billion spent. Conversely, Brazil reported the highest average waste on project spending: US$202 million for every US$1 billion spent. North America came in under the global average, wasting on average US$119 million for every US$1 billion spent.

Of the industries included in the study, government agencies had the lowest average monetary waste on spending projects: US$108 per US$1 billion spent. Financial services reported the highest average waste on project spending: US$149 million per US$1 billion spent.

Recommendations

Look beyond technical skills. Effective project and program management relies on blending technical skills with broader leadership and business qualities. The most successful organizations empower well-rounded professionals capable of overseeing long-range strategic objectives. Organizations that expand their focus in this way see 40 percent more of their projects meet goals and original business intent.

Recognize the strategic role of an enterprise-wide project management office (EPMO) and get it aligned to strategy. Project Management Offices are essential to overseeing strategic initiatives throughout an organization. This dedicated group can lead to significantly improved business outcomes. Organizations that align their EPMO to strategy report 27 percent more projects completed successfully and 42 percent fewer projects with scope creep.

Drive success with executive sponsors. Executive sponsors are uniquely positioned to overcome barriers to successful project outcomes. They are able to secure funding, champion strategies and objectives and foster collaboration within an organization. As a result, when more than 80 percent of projects have an actively engaged executive sponsor, 65 percent more projects are successful.

In addition to tracking trends in project management, this year’s Pulse of the Profession incorporates insights from executive leaders and PMO directors to report their perspectives on why higher project success rates aren’t being achieved. Among the chief findings:

Executive and PMO heads perceive project management differently. Executive leaders and PMO directors do not view organizational success and the benefits of project management in the same way. They have significantly disparate views about their organization’s performance when it comes to formulating strategy, prioritizing and funding projects, executing strategic projects, and recognizing lessons learned. Additional gaps in perception exist between the benefits of using formal project management and improving risk identification and management, success with complex projects, customer satisfaction, and success with organizational change.

Executives and PMO leaders are optimistic about the future. Executive leaders and PMO directors agree on the importance of improving their competitiveness over the next three years. Eight in 10 executive leaders and PMO directors agree they will achieve that by formulating strategies appropriate for changing market conditions, prioritizing and funding the correct initiatives and/or projects, executing initiatives and/or projects in a way that delivers strategic results, and using lessons learned from failed projects to inform strategic planning.

About Project Management Institute (PMI)

Project Management Institute is the world's leading not-for-profit professional membership association for the project, program and portfolio management profession. Founded in 1969, PMI delivers value for more than 2.9 million professionals working in nearly every country in the world through global advocacy, collaboration, education and research. PMI advances careers, improves organizational success and further matures the profession of project management through its globally recognized standards, certifications, resources, tools academic research, publications, professional development courses, and networking opportunities. As part of the PMI family, Human Systems International (HSI) provides organizational assessment and benchmarking services to leading businesses and government, while ProjectManagement.com and ProjectsAtWork.com create online global communities that deliver more resources, better tools, larger networks and broader perspectives.

Visit us at www.PMI.orgwww.facebook.com/PMInstitute and on Twitter @PMInstitute.

Contact information

Project Management Institute (PMI)
Karen Flanagan, +1 610-356-4600 x1092
Karen.Flanagan@pmi.org

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

ADC Therapeutics Presents Interim Phase I Data from its Novel Antibody-Drug Conjugate ADCT-40211.12.2017 06:00Pressemelding

ADC Therapeutics (ADCT), an oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major cancers, today announced clinical data from two ongoing Phase I clinical trials evaluating ADCT-402 (loncastuximab tesirine or “Lonca-T”) in important subtypes of lymphoma and leukemia. The data were presented at the 59th American Society of Hematology (ASH) Annual Meeting in Atlanta, USA. 1. Interim results of a Phase I open label, single agent, dose-escalating study of ADCT-402 evaluating tolerability, safety, pharmacokinetics and efficacy in patients with relapsed or refractory B-cell Non-Hodgkin Lymphoma Dr. Brad Kahl, M.D., Professor for Medical Oncology at the Washington University School of Medicine in St. Louis, said: “A significant number

GA Telesis Launches Leveraged Finance Group with the Appointments of David Lloyd and Nolan Heske11.12.2017 05:01Pressemelding

GA Telesis, LLC (“GAT”) announces the launch of its Leveraged Finance Group (“LFG”) to provide secured aircraft financing for lessors, investors, and airlines. GAT has appointed David Lloyd and Nolan Heske as Managing Directors of LFG to pursue the development, execution and growth of this strategy. The LFG management team has over 35 years of combined experience in the aircraft and transportation finance sector. Prior to joining GAT, Mr. Lloyd and Mr. Heske cofounded Air Funding in 2016 to provide an alternative source of direct lending on commercial aircraft to lessors and airlines. Prior to Air Funding, David Lloyd spent 12 years at Carlson Capital as Head of Credit, Airlines & Aerospace. Mr. Lloyd was the group founder and was responsible for a portfolio with peak assets of $475 million. Mr. Lloyd also held executive positions at Credit Suisse and Chase Securities. No

AstraZeneca’s Calquence (acalabrutinib) Shows Potential in Chronic Lymphocytic Leukaemia Trials10.12.2017 22:45Pressemelding

AstraZeneca and Acerta Pharma, its haematology research and development centre of excellence, today presented results from the Phase Ib/II ACE-CL-003 clinical trial (Abstract #432) and updated results from the Phase I/II ACE-CL-001 (Abstract #498) clinical trial that are testing Calquence (acalabrutinib) alone and in combination for the treatment of chronic lymphocytic leukaemia (CLL) in multiple treatment settings. The findings were presented during two oral sessions at the 59th American Society of Hematology (ASH) Annual Meeting & Exhibition in Atlanta, USA. Sean Bohen, Executive Vice President, Global Medicines Development and Chief Medical Officer at AstraZeneca, said: “These data add to the growing body of evidence that supports the potential of Calquence in the treatment of chronic lymphocytic leukaemia, a life-threatening disease that affects tens of thousands of people aroun

Celgene Corporation and bluebird bio Announce Updated Results from Ongoing Multicenter Phase 1 Study of bb2121 Anti-BCMA CAR T Cell Therapy in Patients with Late Stage Relapsed/Refractory Multiple Myeloma at ASH Annual Meeting10.12.2017 15:30Pressemelding

Celgene Corporation (NASDAQ: CELG) and bluebird bio, Inc. (Nasdaq: BLUE) today announced that updated results from the ongoing CRB-401 Phase 1 clinical study of bb2121, an investigational anti-B-cell maturation antigen (BCMA) CAR T cell therapy, in 21 patients with late-stage relapsed/refractory multiple myeloma will be presented in an oral presentation at the American Society of Hematology (ASH) Annual Meeting in Atlanta, Georgia. The objective of this Phase 1 dose-escalation study is to evaluate safety and efficacy of bb2121 and determine a recommended Phase 2 dose. “Celgene has a longstanding commitment to patients with multiple myeloma through our extensive research efforts in this deadly blood cancer,” said Nadim Ahmed, President, Hematology and Oncology for Celgene. “Looking ahead, we see BCMA as an important target in this disease and we believe bb2121 has the potenti

Kite Announces Long-Term Data From Pivotal ZUMA-1 Study of Yescarta™ (Axicabtagene Ciloleucel) in Patients With Refractory Large B-cell Lymphoma10.12.2017 15:30Pressemelding

Kite, a Gilead Company (Nasdaq: GILD), announced long-term follow-up data from the pivotal ZUMA-1 study of Yescarta™ (axicabtagene ciloleucel) in patients with refractory large B-cell lymphoma. With a minimum follow-up of one year after a single infusion of Yescarta (median follow-up of 15.4 months), 42 percent of patients continued to respond to therapy, including 40 percent with a complete remission. Detailed results from this updated analysis were simultaneously presented at the Annual Meeting of the American Society of Hematology (ASH) in Atlanta and published in The New England Journal of Medicine. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171210005072/en/ Yescarta is the first chimeric antigen receptor T (CAR T) cell therapy to be approved by the U.S. Food and Drug Administration (FDA) for the treatment of adult

Takeda and Seattle Genetics to Present Positive Data from Phase 3 ECHELON-1 Clinical Trial Evaluating ADCETRIS® (brentuximab vedotin) in Frontline Advanced Hodgkin Lymphoma10.12.2017 13:00Pressemelding

Takeda Pharmaceutical Company Limited (TSE:4502) and Seattle Genetics, Inc. (NASDAQ: SGEN) today announced that data from the Phase 3 ECHELON-1 clinical trial evaluating ADCETRIS (brentuximab vedotin) as part of a frontline combination chemotherapy regimen in untreated advanced classical Hodgkin lymphoma will be presented in the Plenary Scientific Session at the 59th American Society of Hematology (ASH) annual meeting on Sunday, December 10, 2017. The data were also simultaneously published online in the New England Journal of Medicine and will be published in the print edition on January 25, 2017. Topline data were reported in June 2017 demonstrating the ECHELON-1 trial met its primary endpoint of a statistically significant improvement in modified progression-free survival (modified PFS) per Independent Review Facility (IRF) versus the control arm. ADCETRIS is an antibody-drug con

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom