Measuring project management's return on investment

This article summarizes a 1997 study by PMI members to develop a methodology for justifying return on the investment in project management tools, processes, and practices. Thirty-eight companies and government agencies benchmarked their current processes and practices by means of a rigorous and comprehensive questionnaire that covered eight functional areas and six project phases. Each organization was rated on a scale that measured project management process maturity. An analysis of the data demonstrated a correlation between improved project cost performance and higher levels of project management maturity, although it also showed diminishing returns at the highest levels. The study validated the methodology as a sound way of justifying investment in project management and recommended an Excellence in Project Management Practice Award as a way to recognize and encourage superior project management processes.
registered user content locked
PMI member benefit.

or Register

Advertisement

Advertisement

Related Content

Advertisement

Publishing or acceptance of an advertisement is neither a guarantee nor endorsement of the advertiser's product or service. View advertising policy.