Project Managers face a large amount of criticism. It is often that our role and the whole point of having us around is called into question. In fact, we see companies that are performing on the market with no Processes or real Project Management every day. They just give someone the title and proceed as usual.
Like every year, several institutions provide us with interesting insights on the actual situation regarding Project Management. There are a few that stand out and I would like to mention here: Standish Group annual publication CHAOS Report, The PMI with the Pulse of the Profession and KPMG with Project and Programme Management survey.
The thing is that most of the projects don’t hit the target. The average success rate of project achievement is only 16.2% for software projects. In larger companies, the news are even worse – only 9% of projects come in on time and within the budget.
Another important information is that only 64% of projects, in general, meet their goals in term of functionalities and quality.
How Is This Result Influenced by Processes and Project Management?
If we take a look at “high performers” (organisations that meet the original project goals and fulfil the deadlines and stay within the budget on 80% or more of projects), we notice that most of them make use of Project Management, Internal Processes and Best Practices.
Looking at the methodology, we notice that organisations using “standard” Project Management methodologies outperform those that don’t by an average of almost 10%. The latter are probably too busy reinventing the wheel to keep up!
In a world that puts so much focus on costs and the profitability, Project Management is becoming more and more important for every organisation.