I admit that this time I take up this year’s PMI report very late due to project engagements, and that while I was “hawking around“ with it at my clients whom I was able to help out of some bad project distresses again this year: Look, You are not the only ones who have to catch up backlogs here !
The PMI Pulse of the Profession 2016 (again) shows very clearly and easy to understand why project success, business success and good project management are directly interrelated: projects are 2 ½ times more successful (and profitable) when proven project management practices are used. It bases its argument this time as expected on PMI’s newly introduced Talent Triangle and stresses the necessity of interacting technical project management, leadership, and strategic and business management for corporate success.
Unfortunately the research’s findings also show a deterioration of the project results correlated with a decrease of maturity in corporate project management: We see US$122 million wasted for every US$1 billion invested due to poor project performance, a 12 percent increase over last year !
PMI considers the reason to be anew decreasing awareness and acknowledgement for good project management practices at the Executive Management, and appeals:
- Look beyond technical skills of your project managers, and seek added skills in leadership and business management
- Recognize the strategic role of corporate project management and an enterprise-wide Project Management Office (EPMO) aligned to the company’s strategy
- Drive success with engaged Executive Sponsors
But discover it yourself – and use the study as an (additional) argumentation aid for good project management in your company. Have an inspiring reading.