Sound PM Practices Pay Off

  Decision Making   Leadership   PMO   Stakeholder Management   ProjectsAtWork  

Project Management Institute’s latest Pulse of the Profession report shows how high-performing organizations embed efficiency by developing strategies, techniques and teams built from use of sound project management practices.

Organizations still waste an average of $109 million for every $1 billion invested in projects and programs due to poor performance. High-performing organizations, however, waste 13 times less money than their low-performing counterparts, according to the 2015 Pulse of the Profession Report: Capturing the Value of Project Management, published earlier this month by the Project Management Institute (PMI). The difference: high performers use their mastery of fundamental project and program practices as the foundation for organizational success and competitive advantage.

The survey of 2,800 project leaders and practitioners at multi-national corporations and government agencies found that the highest performing organizations are proactive in aligning their business models and talent management practices to a proven, fundamentally sound set of basic project management principles:

• 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
• Using …

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