Business Wire

PMI 2017 Pulse of the Profession: Project Success Rates Climb, Fewer Dollars Wasted

Del

Project Management Institute’s (PMI) latest research shows that for the first time in five years, more projects are meeting original goals and business intent while being completed within budget — and that fewer projects are deemed failures.

Findings unveiled today in PMI’s 2017 Pulse of the Profession®: Success Rates Rise: Transforming the High Cost of Low Performance demonstrate that last year organizations around the globe reduced the average amount of money they wasted on projects and programs by 20 percent compared to the previous year. Specifically, the study found that, globally, organizations wasted an average of $97 million for every $1 billion invested in projects and programs in 2016, compared to an average of $122 million per $1 billion in the year prior.1

The report determines that organizations are becoming more mature with project management and are distinguishing themselves by:

  • Developing project management talent. Developing technical, leadership and business skills for the management of projects continues to draw significant attention. Thirty-two percent of survey respondents consider both technical and leadership skills a high priority — a 3 percent increase over last year.
  • Managing project benefits. There’s growing attention to benefits realization management, which is the collective process of identifying benefits at the outset of a project and ensuring, through purposeful actions during implementation, that the benefits are realized and sustained once the project ends. One in three organizations (31 percent) reports high benefits realization maturity.
  • Establishing Project Management Offices (PMOs) and strategic Enterprise Project Management Offices (EPMOs). Organizations can bridge the gap between high-level strategic vision and implementation with a project management office (PMO). Among organizations in the survey that have a PMO, half report having an enterprise project management office (EPMO). And those that align their EPMO to strategy (i.e., have a strategic EPMO) report 38 percent more projects meet original goals and business intent and 33 percent fewer projects are deemed failures.
  • Driving executive sponsorship. Actively engaged executive sponsors continue to be the top driver of whether projects meet their original goals and business intent. That fact was not lost on survey respondents, who revealed an increase in the percentage of their organizations’ projects with actively engaged sponsors compared to last year — an average of 62 percent compared to 59 percent, respectively.
  • Addressing agile approaches. Organizations increasingly embrace agile as a technique for managing projects. A full 71 percent of organizations report using agile approaches for their projects sometimes or more frequently.

“We are encouraged to see that organizations are making significant progress and experiencing more success with implementing strategic initiatives and delivering intended project benefits,” said PMI President and CEO Mark A. Langley. “We have long advocated that project management is essential for any organization’s success and are excited that others are increasingly realizing this fact as well. Organizations that invest in proven project management practices waste 28 times less money because more of their strategic initiatives are completed successfully.”

Of the industries included in the study, healthcare reported the highest average waste on project spending. A more detailed breakout of several key industries included in the study, ranked from highest to lowest, demonstrates the range of efficiency achieved:

Healthcare – $112 million per $1 billion
Telecom – $106 million per $1 billion
Energy – $101 million per $1 billion
Manufacturing – $98 million per $1 billion
Government – $97 million per $1 billion
Financial Services - $97 million per $1 billion
Construction – $94 million per $1 billion
IT – $78 million per $1 billion

Of the geographic regions covered in the study, specific markets stood out. India reported the lowest average monetary waste on projects ($73 million per $1 billion), followed by both China and the Middle East ($82 million per $1 billion). Conversely, Europe reported the highest average waste on project spending at $131 million per $1 billion. 2

The 2017 Pulse of the Profession features feedback and insights from 3,234 professionals globally who represent diverse levels of experience and industries, including government, information technology (IT), telecom, energy, manufacturing, healthcare and construction. The global totals in the report represent feedback from North America, Latin America, Europe, the Middle East and the Asia Pacific region.

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, 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.org, www.facebook.com/PMInstitute and on Twitter @PMInstitute.

1 Figures are U.S. dollar amounts, but represent a percentage that applies to any currency.

2 Figures are U.S. dollar amounts, but represent a percentage that applies to any currency.

Contact information

Project Management Institute (PMI)
Karen Flanagan, +1 610-356-4600 x1092
Karen.Flanagan@pmi.org
or
Megan Kelly, +1 610-356-4600 x7030
Megan.Kelly@pmi.org

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

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

(c) 2018 Business Wire, Inc., All rights reserved.

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

Trump International Hotel Washington, D.C. Announced as First Forbes Five Star Hotel in Downtown Washington, D.C.22.2.2018 19:21Pressemelding

Trump International Hotel Washington, D.C. announces today that it has been awarded the 2018 Forbes Five-Star recognition, making it the first hotel to receive the prestigious distinction in Downtown Washington D.C. Forbes Travel Guide, the global authority on luxury travel, sends anonymous professional inspectors around the world to assess hotels, restaurants and spas against up to 800 objective standards focused on service and facilities. Just opened a short fifteen months ago, the property is located on Pennsylvania Avenue in the center of the city at the site of the Old Post Office. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222006277/en/ Trump International Hotel Washington, D.C. (Photo: Business Wire) Mickael Damelincourt, Managing Director, oversaw the recruitment and selection of the executives whose teams would lead the hotel through the construction and opening phases, instilling a commitment to the highest l

Entrust Datacard and Infineon Partner to Reduce Complexities with Securing IoT Deployments22.2.2018 18:30Pressemelding

Entrust Datacard, a leading provider of trusted identity and secure transaction technology solutions, today announced it has joined the Infineon Security Partner Network (ISPN). The ISPN is part of Infineon Technologies AG, a leading provider of semiconductor solutions used in automotive, industrial, computing and Internet of Things applications. The ISPN is composed of associated and preferred security partners who are proven experts in security consulting, security solution provisioning, electronic design, systems integration and trust services management. The new partnership will apply the Entrust Datacard™ ioTrust™ Security Solution that uses identity-based technology to help securely connect the people, applications and devices that power the connected world. The tiered software uses sophisticated cryptographic technology to provide identity issuance, management and data security of connected things within industrial environments. As a global leader in Trusted Platform Modules (TP

Blue Danube Systems Joins xRAN Forum as a Massive MIMO System Supplier Fully Committed to Open Interfaces22.2.2018 18:10Pressemelding

Blue Danube Systems, a provider of intelligent wireless access solutions that help mobile operators address the challenge of explosive data growth, today announced that it has joined the xRAN Forum (www.xran.org). The xRAN Forum was formed by several leading global mobile operators to develop, standardize and promote an open alternative to the traditionally closed, hardware-based RAN (Radio Access Network) architecture. Massive MIMO systems are widely recognized to be a critical element of future 5G wireless networks. Blue Danube’s unique approach to Massive MIMO, based on the company’s underlying High Definition Active Antenna Systems (HDAAS™) technology, not only delivers capacity gains in existing LTE networks with today’s smartphones but also enables intelligent analytics-based RF virtualization for multi-site network performance optimization. Blue Danube’s first Massive MIMO product, the BeamCraft™ 500, has been deployed at four FDD-LTE operators to date, interfacing to four diffe

Blue Danube Systems First to Demonstrate Benefits of FDD Massive MIMO in Clustered Multi-Sector Deployments22.2.2018 18:07Pressemelding

Blue Danube Systems, a provider of intelligent wireless access solutions that help mobile operators address the challenge of explosive data growth, today announced it has successfully expanded the commercial deployment of its massive MIMO solution to multiple clustered cell sites, demonstrating total capacity improvements for directly adjoining sectors on existing LTE networks using current smartphones. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222006158/en/ Blue Danube Systems First to Demonstrate Benefits of FDD Massive MIMO in Clustered Multi-Sector Deployments (Photo: Business Wire) Despite the prevalent view that Massive MIMO systems will be central to 5G networks, it has not been clearly proven that the technology is deployable beyond isolated high-demand sectors where effects such as adjacent cell interference must be addressed. In fact, common digital-only Massive MIMO implementations typically operate as clos

Avnet and IDEMIA Develop Highly Flexible ‘Plug & Play’ Cellular Connectivity Solution for IoT and Industry 4.0 Applications22.2.2018 16:08Pressemelding

Avnet (NYSE: AVT), a leading global technology distributor and IDEMIA (formerly known as OT-Morpho), the global leader in Augmented Identity, have joined forces to collaborate on the development of a new future-proof cellular connectivity solution that meets the growing communication requirements for Internet of Things (IoT) and Industry 4.0 applications. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222005966/en/ (Photo: IDEMIA) The new ‘plug & play’ eUICC (embedded Universal Integrated Circuit Card) and SM-SR (Subscription Management Secure Routing) delivers product future-proofing capability to IoT application solution providers and other businesses. It provides them with the ability to easily choose a mobile network operator (MNO) without eventually having to manually change the embedded SIM card in their cellular connectivity-based devices, machines and sensors that are already deployed in the field. The product bund

TINE Boosts Logistics Performance with Quintiq’s Route Optimization Technology22.2.2018 15:41Pressemelding

Quintiq, a Dassault Systèmes company and global leader in supply chain planning and optimization (SCP&O), announced that its tactical planning solution for TINE AS has resulted in more cost-effective routes. Given the success of this project, the leading Norwegian dairy producer is now embarking on a second phase to further enhance its tactical planning and expand the solution’s scope to include operational planning. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222005936/en/ TINE goes further with optimized logistics. Credit: Bo Mathisen Last year, TINE went live with the first phase of the Quintiq solution, designed to optimize the company’s last-mile delivery of dairy products on a tactical level. TINE’s planners used Quintiq to plan shipment routes from central distribution centers all over Norway to customers. They were able to manage the complexity of trailer swapping, various types of resources, dynamic time window