Key economic conditions are mixed
Some economic conditions in the project management community are showing signs of long term improvement while others are lagging as revealed by results from our most recent global economic study, completed in June 2014.
Cancelled or delayed projects as well as professional development activities show little change from the beginning of the year but do show long term progress when compared to the same time last year. Both measures are the lowest they’ve been since PMI began tracking this in 2009.
The following trending information has been collected from the quarterly PMI economic snapshot research. The most recent results below are from Q2 2014.
In the past few months, has your company cancelled or delayed scheduled projects due to the economic conditions? (%=yes)
In the past few months, has your company started projects that were previously cancelled or delayed due to the economic conditions? (%=yes)
Are you currently working on projects funded by government stimulus funds? (%=yes)
In the past few months, has your company laid-off full or part-time Project Managers due to the current economic conditions? (%=yes)
In the past few months, has your company hired full or part-time Project Managers? (%=yes)
Which of the following best describes your employment status? (%=employed)
In the past few months, has your company cancelled and/or delayed employee professional development activities (training, seminars, etc) due to the economic conditions? (%=yes)
In the past few months, has your company rescheduled employee professional development activities such as training or seminars that were previously cancelled or delayed due to the economic conditions?
Fewer professional development activities were restarted in Q2 2014 compared to Q2 2013. This, however, is impacted by the declining number of cancelled professional development activities. High performing organizations are more likely than low performing organizations to offer project management training and they enjoy more successful projects as a result. (Source: PMI 2014 Pulse of the Profession®)
There is no notable change in layoffs since the beginning of the year but this measure has been fluctuating since Q2 2013. Hiring of project managers, however, has increased since the beginning of the year and is at its highest since 2012. Despite these promising signs, the percentage of employed project managers has dropped significantly compared to Q1 2014 and is the lowest since 2009.
Government stimulus funds for projects are slowing down. After two quarters of remaining stable at 16 percent, the number of projects funded by the government decreased in Q2 2014. Compared to the same time last year, the decrease is significant.
The PMI Economic Snapshot Survey is sent to a random global sample of 2,000 PMI members and credential holders on a quarterly basis.
Please direct questions about the study to email@example.com.