Economic Conditions are Mixed
In the most recent economic snapshot survey, respondents’ assessment of global economic conditions is stable. When asked to give their views on current global conditions, only about one-fifth of respondents report that conditions are better compared to six months ago (Figure 1), however more than two-fifths feel conditions will be better in the next six months compared to today (Figure 2).
Figure 1: Assessment of current global conditions compared with six months ago
Figure 2: Future outlook regarding global conditions in next six months compared to today
Additionally, more than two-fifths report their organization experienced better financial health compared to six months ago (Figure 3).
Figure 3: Assessment of organization’s financial health compared to six months ago
The financial health of an organization can affect hiring and internal training. Among organizations that have had better financial health compared to six months ago, over two-fifths have seen an increase in the number of full-time project managers. Among these same organizations, nearly half saw no change in the proportion of contract project managers in the past six months, and nearly two-thirds saw no change in the amount of internal project management training provided. (Figure 4).
Among organizations that have had worse financial health compared to six months ago, half saw a decrease in the number of full-time project managers. Among these organizations, nearly half saw both a decrease and no change in the proportion of contract project managers, and over half saw no change with internal project management training. (Figure 4).
Figure 4: Financial health compared to # of full time project managers, % of contract project managers, and Δ in internal training for project management
When asked about potential risks to the growth of their organization within the next six months, over two-thirds report that economic instability is the biggest potential risk, followed by political risks & violence, and disruptive technologies (Figure 6). These same three potential risks are also most concerning to respondents in their future outlook, with half reporting that economic stability is the most concerning potential risk (Figure 7).
Figure 6: Potential risk to growth of organization
Figure 7: Most concerning potential risks
Among respondents who are most concerned about disruptive technologies impacting the growth of their organization, two-fifths expect artificial intelligence (AI) to have the most disruptive impact on businesses in their sector within the next six months (Figure 8).
Figure 8: Technologies expected to have disruptive impact on businesses