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

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

Munich Re Automation Solutions Ltd. today announced the launch of their latest data analytics and reporting product, ALLFINANZ Insight12.12.2017 09:06Pressemelding

Munich Re Automation Solutions Ltd., the leading provider of digital underwriting solutions to the life insurance industry, today announced the launch of their latest data analytics and reporting product, ALLFINANZ Insight. ALLFINANZ Insight is designed to help life insurance companies unlock the insights hidden in their underwriting data using a creative and intuitive interface and 30 years of underwriting expertise built in. A vast amount of data is captured during the new business and underwriting process. Accurately categorising and understanding this data can be hugely valuable as the insights generated will significantly improve the design of underwriting rules, the new business and underwriting process as well as operations and distribution management. ALLFINANZ Insight gives your whole team a clearer, deeper view into their underwriting data. The software uses cutt

New Data for Darzalex®▼(daratumumab) Presented at ASH 2017 Show Feasibility of Subcutaneous Use and Potential of Darzalex as a Treatment for Smouldering Multiple Myeloma12.12.2017 08:00Pressemelding

Janssen-Cilag International NV (“Janssen”) today announced new data from the Phase 1b PAVO clinical study, which demonstrated that the subcutaneous delivery of Darzalex® (daratumumab) co-formulated with recombinant human hyaluronidase enzyme (daratumumab-SC), was generally well-tolerated, with a 12 percent rate of infusion-related reactions (IRRs), in patients with relapsed or refractory multiple myeloma.1 These data were featured as an oral presentation at the 59th American Society of Hematology (ASH) Annual Meeting in Atlanta. Daratumumab is currently approved for intravenous (IV) administration, and results from the PAVO trial serve as the basis for an actively enrolling Phase 3 study comparing subcutaneous administration of daratumumab over 3-5 minutes with the approved IV administration in relapsed and refractory multiple myeloma patients.2 Daratumumab is currently indica

World’s First Ultra HD HDR Travel Channel Travelxp 4K Makes German Debut on HD+ via SES12.12.2017 07:55Pressemelding

Travelxp 4K, one of the world’s leading travel and lifestyle television channels, will start delivering its programmes in Ultra HD (UHD) and High Dynamic Range (HDR) to HD+ viewers across Germany as of 13 December 2017. The channel will be broadcast via Astra 19.2 degrees East and will rely on MX1 for playout and uplink services. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211006262/en/ World’s First Ultra HD HDR Travel Channel Travelxp 4K Makes German Debut on HD+ via SES Travelxp 4K is also one of the first networks in the world to broadcast in High Dynamic Range, a feature that provides better contrast and greatly improves the viewer experience. Thanks to that technology, HD+ customers can enjoy holiday destinations from around the world from the comfort of their own homes without any additio

The Country Network (TCN) Debuts in Ultra HD with SES12.12.2017 07:55Pressemelding

The Country Network (TCN), an emerging over-the-air television network devoted to showcasing rising and established country music stars, has joined SES’s successful Ultra HD platform to launch its 4K channel and boost its audience reach. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211006280/en/ The Country Network (TCN) Debuts in Ultra HD with SES (Photo: Business Wire) SES today announced The Country Network (TCN) has debuted its first shows in Ultra HD this week and become the eleventh 4K channel on SES’s all-in-one Ultra HD solution. The unique Ultra HD platform packages satellite distribution, reception gear, and the world’s largest 4K channel line-up for cable and IPTV operators of all sizes across North America. First launched in 2009, The Country Network is currently enj

Dialog Semiconductor Power Conversion Chipset Used in HUAWEI's Latest Flagship Mate 10 Series12.12.2017 07:13Pressemelding

Dialog Semiconductor plc (XETRA: DLG), a provider of highly integrated power management, AC/DC power conversion, and low power connectivity technology, today announced that Dialog's RapidCharge(TM) chipset enabling the SuperCharge protocol was selected for the new HUAWEI Mate 10, HUAWEI Mate 10 Pro and Porsche Design HUAWEI Mate 10 smartphone adapters. As fast charging smartphone adoption accelerates, this represents another significant milestone in the company's AC/DC power conversion leadership as Dialog continues to maintain a market share above 60%. HUAWEI recently launched their impressive Mate 10 series with breakthrough AI devices that combine innovative hardware and software. The Kirin 970 chipset and EMUI 8.0 is the world's first AI processor for smartphones with a dedicated Neural Network Processing Unit (NPU). All HUAWEI Mate 10 series sport the New Leica Dual

Russian Teen Star Polina Butorina Releases Her Debut Album in Dubai12.12.2017 07:00Pressemelding

UAE-based Russian teen actor and singer-songwriter Polina Butorina released her debut album, titled ‘Ocean of Emotions’, here. The anthology of 10 original English songs are written and sung by the 15-year-old student of Raffles International School Dubai. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211006370/en/ Polina Butorina at the launch of debut album "Ocean of Emotions" - (Photo: AETOSWire) The album was launched simultaneously with the premiere of the recent Hollywood motion picture ‘Maximum Impact’, in which Polina played a main role. The album’s three tracks – ‘Higher Than the Sky’, ‘I Want to Be Free’ and ‘Like Thunder’ were part of the movie’s soundtrack. Launching the album, Polina said, “The album explores the idea of love in its different appearances. The main concept r

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

Besøk vårt presserom