PMI Economic Snapshot
Economic measures indicate a mixed outlook for the project management community
Results from the most recent PMI global economic study (Q4 2013) reveal that some economic conditions in the project management community are showing signs of improvement while others are not. Four key economic measures have improved or stabilized since the beginning of the year. By the end of 2013, fewer projects were being cancelled or delayed after steadily increasing for the first three quarters of 2013. The number of cancelled or delayed professional development activities remains stable compared to the previous quarter but has improved in the long term. Two additional metrics showing long term improvement are the number of restarted projects and professional development activities.
On the downside, hiring is showing long term decline and layoffs have steadily increased over the past five quarters. Neither metric has reached the levels they were at the same time last year. Employment status of project managers remains steady compared to the previous quarter.
Government stimulus funds for projects are slowing down. There was a steady increase in government support from the end of 2012 through the third quarter of 2013. However, government support decreased in Q4 2013. Organizations in Latin America and EMEA are receiving significantly more government support than other regions.
Organizations outside of Latin America fare better in Q4 2013
Organizations in Latin America had more cancelled/delayed projects and professional development activities than those in North America, Asia Pacific, and EMEA. However, Latin American organizations are showing signs of improved conditions as more projects are being restarted that had previously been cancelled. And significantly more organization in Latin America than all other regions restarted professional development activities.
View more details of the Economic Snapshot Trends.
The PMI Economic Snapshot Survey is sent to a random global sample of 2,500 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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