Economic conditions continue to track positively.
The news regarding economic conditions in the project management community continues to be good after the enthusiastic progress reported in the Q4 economic snapshot report at the close of 2014. Several of the key indicators of economic progress are trending upwards (or remain stable):
- The number of organizations that reported hiring project managers to start the year in 2015 increased by 16% compared to last year (51% vs. 44%), while at the same time, layoffs stayed the same as reported by roughly one in five organizations (22%).
- Fewer organizations cancelled or delayed professional development training for project management practitioners compared to this time last year (down three percentage points to 33%), which could be necessitated as a result of the increased hiring. The number of organizations that rescheduled training after placing it on hold as a result of economic conditions remains stable at 20%.
Indicators are more tempered when looking at projects:
- The percentage of organizations that reported canceled or delayed projects remains unchanged compared to the same time last year (35%), and slightly fewer reported restarting projects placed on hold (20% vs. 22%) as a result of economic conditions.
The following trending information has been collected from the quarterly PMI economic snapshot research. The most recent results below are from Q1 2015.
Projects funded by government stimulus monies, after slowly increasing throughout 2014, reached the same level as the start of last year (15% vs. 16%).