Since 2013, we’ve seen a 27 percent decrease in the amount of money organizations are wasting due to poor project performance. As of this research, 9.9 percent of every dollar invested is wasted, down from 13.5 percent in 2013.
Champion organizations—those who complete 80 percent or more projects on time, on budget, meeting business intent and having high benefits realization maturity—are continuing to mature their project talent, capabilities and culture. Because of this, they have higher project success rates (92 percent versus 32 percent for under-performers), enjoy more successful business outcomes and waste significantly less money due to poor project performance.
Success starts with the right approach to support project delivery. Our 2018 Pulse of the Profession® findings show that regardless of whether predictive, agile or hybrid is used, organizations that use some type of formal project management approach are successfully meeting their goals. And champions are better at choosing the best-fit approach.
Organizations are facing heightened competition and ongoing disruption. They see that no one single factor drives success. Smart organizations understand that proven project management practices lead to greater success and less waste.
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