Project Management: Impact your bottom line

Bottom LineA great piece in the PMI sponsored Telegraph article today makes some interesting points. Some highlights here together with PM Advisor thoughts, but read the article in full when you get 15 minutes.

“Pulse of the ProfessionTM, a new study recently published by the (PMI), found that UK organisations risk on average £169 million for every £1 billion spent – higher than the £135 million for every £1 billion risked by companies that make up the global average.”  Put in context that’s 17% put at risk, vs 13.5% globally.

“High-performing organisations that implement proven success measures mitigate risk by improving their project and programme outcomes. An average of 90% of their projects are meeting original goals and business intent, compared to an average of 34 percent for low-performing organisations.” This demonstrates that the Standish report findings amongst others that 2/3 of projects continue to fail to meet their objectives, and yet by implementing the basic elements for success, that figure can be reduced to 10% or less.

“Only 59pc of organisations in the UK understand the value of project management, on a par with the global average.”  Sadly there is also a huge step from understanding the value and doing something about it.

The full PMI Report can be found on their website.

Comments

  1. Thanks . That was very helpful. There is a lot of activity going around in my company about scrum and some teams are having daily stand ups etc. Do you think that like PMP, having a Scrum certification will help me in my career?

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