2014 Pulse of Profession

  ProjectsAtWork  

Project Management Institute’s annual global outlook finds that the high cost of low performance remains a threat to organizational strategic initiatives. The keys to success are: developing people through training; improving project, program and portfolio management capabilities; and establishing benchmarks and metrics for project outcomes.

Organizational leaders are changing their approach to strategy, according to PMI’s 2014 Pulse of the Profession: The High Cost of Low Performance, the latest research from the Project Management Institute (PMI). Though executives know what they should be doing — 88 percent of them say that strategy implementation is important to their organizations — 61 percent acknowledge that their firms often struggle to bridge the gap between strategy formulation and its day-to-day implementation. This gap demonstrates a lack of understanding among organization executives that all strategic change happens through projects and programs.

“While not all projects and programs rise to the level of a ‘strategic initiative,’ all of an organization’s strategic initiatives are implemented through projects and programs that inevitably change the business,” said Mark Langley, president and CEO of PMI. “Most in the C-suite fail to realize this simple truth. Maybe more would if they assigned a senior …

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