Project Growth is Slowing
Economic conditions for the project management profession globally range from softer to unchanged compared to Q1 of 2015.
The percent of projects previously cancelled or delayed that have been started (or restarted) has decreased compared to Q1 2015 (15% vs. 20%). The percent of projects newly cancelled or delayed has increased (43% vs. 35%). These factors point to a slowdown in project growth during 2016.
Additionally, there is a higher rate of cancellations and delays in professional development and training activities for project managers compared to this quarter last year (41% vs. 33%). The reduction in training activities could be related to the slowdown in project growth. The percent of training activities previously cancelled or delayed that have been rescheduled is unchanged at 20%.
All other economic factors reported last quarter are essentially unchanged. The hiring of project managers has decreased slightly (49% vs. 51%), which could be due to the increase in cancelled or delayed projects. The percent of organizations that have laid off project managers is unchanged at 22% and is consistent with the static percentage of employed project managers (91% vs. 92%).
Projects funded by government stimulus monies have rebounded back to their 'normal' levels, from last quarter's dip to 10%, and is now comparable to the proportion from this time last year (14% vs. 15%).