PMI Economic Snapshot
Economic conditions continue to fluctuate for project management community
Results from the most recent PMI global economic study (Q2 2013) reveal economic conditions in the project management community are back to the levels they were in the second half of 2012 after showing signs of improvement in Q1 2013. Looking specifically at project and professional development cancellations or delays, there are increases in Q2 2013 compared to Q1 2013 however; compared to the second half of 2012, these measures are at or about the same level.
Signs of potential improvement
Two secondary areas are showing signs of improvement in the project management community. The number of restarted projects has been steadily increasing for the past three quarters and is back at the level it was in Q3 2011. Rescheduled professional development activities increased compared to Q1 2013 after remaining fairly stable for four quarters.
Employment measures remain uncertain
While the number of employed project managers increased significantly compared to the beginning of 2013, it’s only slightly higher than the same time last year (95% vs. 93%). Other metrics indicate that organizations took measures in this quarter to maintain the bottom line - compared to the beginning of the year, organizations laid-off significantly more project managers and cut back on hiring.
Organizations in Asia Pacific and EMEA fare better in Q2 2013
Organizations in Asia Pacific and, to some extent EMEA, performed better in this quarter in terms of fewer cancellations/delays of projects and professional development activities. Latin America is showing signs of improved conditions though as more projects are being restarted that had previously been cancelled. And significantly more organization in Latin America than North America restarted professional development activities that had previously been cancelled.
View more details of the Economic Snapshot Trends.
The PMI Economic Snapshot Survey is sent to a random global sample of 2,000 PMI members and credential holders on a quarterly basis. Beginning in Q1 2013, 500 additional PMI members and credential holders from Latin America are included to obtain a higher representation from that region.
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