Organizations waste US$122 million for every US$1 billion invested due to poor project performance — a 12 percent increase over last year.
That’s the finding of the 2016 Pulse of the Profession®, which reveals an imperative to strengthen the conversation around the benefits of project management.
Since 2006, our annual global survey of project, program and portfolio managers has charted the major trends in project management. This year’s findings reinforce the critical need for strong project management in producing better business outcomes. Yet compared to 2015, more projects are failing, resulting in significant monetary loss.
With shrinking project outcomes, shifting global trends, and an uncertain economy, organizations must shift their thinking and embrace project management as a strategic competency that can reduce risk, cut costs and improve success rates. This year’s Pulse report addresses how to tackle this ongoing challenge.
High performance and project management maturity go hand in hand — but many organizations are still in the slow lane.