Project Management Institute

The Innovation Imperative

The Innovation Imperative Pulse In-Depth report cover

Sticking with the status quo doesn’t cut it in The Project Economy. In an era of nonstop disruption, a solid majority of companies see the value of game-changing ideas delivered through projects. According to Pulse of the Profession® research conducted for this report, 7 in 10 project professionals say their organization invests in and rewards innovation.

And the need for unconventional thinking will only grow more urgent as organizations emerge from the COVID-19 crisis to face tremendous economic uncertainty.

But as much as companies have tried to spur innovation, it’s clear many still have a long way to go. More than half of project leaders rate their organizations as below average when it comes to facilitating innovation and motivating project professionals to pursue new ideas.

Organizations that do promote innovative practices carve out an edge: 80 percent of organizations that encourage project leaders to expand their role to deliver greater value have invested in at least one innovative idea in the past five years—compared to just 54 percent of organizations who don’t.

This innovation push will continue in the years to come: Three in four project leaders say their organizations will invest more to promote project management innovation over the next 10 years.

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