The Project Management Institute’s annual Pulse of the Profession found that there is still poor performance among organizations when it came to project management.
- Very few organizations (9%) rate themselves as excellent on successfully executing initiatives to deliver strategic results.
- Consequently, only 56% of strategic initiatives meet their original goals and business intent.
- This poor performance results in organizations losing $109 million for every $1 billion invested in projects and programs.
- High-performing organizations successfully complete 89% of their projects, while low performers complete only 36% successfully. This difference in success results in high-performing organizations wasting less than 1/12 the resources wasted by low performers.
Of course, if one was being optimistic, you could assume the takeaway is about the enormous potential value of focusing on improving project management performance.
But… that can’t happen until we stop focusing on results.
Yes, that’s right.
Focusing on the end results…and not HOW the results are produced…is a big part of the problem. It turns out, project managers already know that their performance is off. They just don’t know what to do about it.
They aren’t systematically (consistently over time) monitoring the factors that drive outcomes.
- Anyone know their Sponsor Management Participation Level?
- Their Process Adherence Level?
If you don’t monitor the factors that determine the future, then you can’t manage it.
Dr. Leon Kappelman has produced a great summary of the factors that matter in his paper, Early Warning Signs of IT Project Failure: The Dominant Dozen. This article will give you the insights you need to know what you should be monitoring, and managing, to reap some of the value being left on the table by most, if not all, organizations.
Read Dr. Kappelman’s article here.>>