2017 Pulse of Profession

ProjectsatWork.com

Practice Areas: IT Strategy, Knowledge Management, PMO

Project success rates have climbed and waste has fallen significantly as more organizations develop technical and leadership skills, establish project management offices to align vision with execution, and adopt agile approaches, according to Project Management Institute's latest Pulse of the Profession report.

Project Management Institute’s (PMI) latest research shows that for the first time in five years, more projects are meeting original goals and business intent while being completed within budget — and that fewer projects are deemed failures.

Findings unveiled today in PMI’s 2017 Pulse of the Profession®: Success Rates Rise: Transforming the High Cost of Low Performance demonstrate that last year organizations around the globe reduced the average amount of money they wasted on projects and programs by 20 percent compared to the previous year. Specifically, the study found that, globally, organizations wasted an average of $97 million for every $1 billion invested in projects and programs in 2016, compared to an average of $122 million per $1 billion in the year prior.

The report determines that organizations are becoming more mature with project management and are distinguishing themselves by:

     > Developing project management talent. Developing technical, leadership and business skills for the …

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