Understanding the value of project management
first steps on an international investigation in search of value
In order to secure the organizational resources needed to successfully support project initiatives, project managers must not only demonstrate to their senior managers the significance of implementing a project that will help the organization but also show them the value of investing in project management. This article examines a model--developed through a rigorous, multi-disciplinary and multi-methodology study--for gauging the organizational value that project management generates. In doing so, it overviews the research on attempting to measure the organizational value of investing in project management initiatives, noting the problems and issues that are particularly relevant to determining the organizational value--such as the return on investments (ROI)--that projects generate.