Pulse of the PM Profession

  Career Development   New Practitioners   ProjectsAtWork  

New global survey from PMI finds organizations risk $135 million for every billion spent on projects due to deficient project and program management practices, including lack of formal training, standardization and strategic alignment.

A new study released by the Project Management Institute finds that organizations risk on average $135 million for every billion dollars spent on projects. However, high performing organizations that implement proven success indicators can mitigate risk by improving their project and program outcomes — 90 percent of their projects are meeting original goals and business intent, and they risk 14 times less than their low performing counterparts, according to Pulse of the Profession, PMI’s annual global survey of project management professionals.

“These findings should concern executives, particularly in today’s complex business landscape,” said PMI president and CEO Mark Langley. “When organizations continue getting better at executing their projects and programs, they drive success. But when organization executives undervalue the benefit of effective project, program and portfolio management — strategic initiative management — they put real dollars, and their futures, at risk.”

Yet the risk looms for many organizations: according to the study, just 54 percent of organizations …

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