This year again the Project Management Institute (PMI), being a leading professional institutions in project management, continues its research series with the actual report “The Pulse of the Profession”.
This time the study’s and findings’ focus ist hat enterprises which consequently live the fundamental basics of project management achieve significantly better results in business as well.
Those basics include:
- Fully understanding the value of project management
- Having actively engaged executive sponsors
- Aligning projects to strategy
- Developing and maintaining project management talent
- Establishing a well-aligned and effective PMO (project management office)
- Using standardized project management practices such as Risk Management, Knowledge Transfer, use of agile/incremental/iterative practices in project management and benefits realtzation maturity throughout the organization
Such companies, called “High Performers” in the report, have 2 1/2 times more projects fully meeting their original goals than less mature organizations, and they waste 13 times less money !
But besides this main result it needs to be noticed that the number of “High Performers” remains steady at only 12 percent. Laila MT Faridoon, Director of the Chairman’s Office at Roads and Transport Authority (RTA) therefore assumes: “I believe more focus on selling the concept of OPM (= Organizational Project Management) and its value to the C-suite is essential to cause a noticeable change.” Thus good project management and a mature PM organization keeps on being matter of the boss , and without acknowledgement of its value by the top management businesses will go on stagnating “low performing”.