The project management landscape is changing.
With an increased emphasis on efficiency, reporting, and a newfound stress on the information technology industry, being a project manager today is radically different than being a project manager in 2005.
With the changes in the industry, it’s easy to lose track of how often projects fail, what that can cost companies, and how the PM role has changed. Below are 20 surprising statistics that reveal how project management is performing across industries.
1.Over 1 in 3 (34%) projects have no baseline. (Source: Wellingtone)
2.For every $1 billion invested in the United States, $122 million was wasted due to lacking project performance. (Source: PMI.org)
3. 75% of business and IT executives anticipate their software projects will fail. (Source: Geneca)
4. 50% of all Project Management Offices (PMOs) close within just three years. (Source: KeyedIN)
6. Barely over half (56%) of project managers are certified. (Source: Wrike)
7. An astounding 97% of organizations believe project management is critical to business performance and organizational success. (Source: PricewaterhouseCoopers)
8. The median salary for project managers is $87,500 in the U.S. (Source: Glassdoor)
9. 80% of project management executives don’t know how their projects align with their company’s business strategy. (Source: Changepoint)
10. 33% of projects fail because of a lack of involvement from senior management. (Source: University of Ottawa)
11. Businesses identified “capturing time/costs against projects” as their biggest project management challenge. (Source: The Access Group)
12. Reliability, ease of use, and ease of integration are the top three requirements project managers look for when shopping for software. (Source: The Access Group)
13. PRINCE2 is the least-popular project management methodology among project managers. (Source: PMI)
14. 44% of project managers use no software, even though PWC found that the use of commercially available PM software increases performance and satisfaction. (Source: Pricewaterhouse Coopers)
15. Two-thirds of companies are communicating with clients using project management software. (Source: Capterra)
16. Project managers were 13% less likely to use story mapping tools in 2014 than in 2013. (Source: VersionOne)
17. 75% of IT executives believe their projects are “doomed from the start.”(Source: Geneca)
18. High-performing organizations successfully complete 89% of their projects, while low performers complete only 36%. (Source: PMI.org)
19. 63% of companies defer to executives to decide when to eliminate or put off a project. (Source: InformationWeek)
20. 49% of organizations have a project management training program in place. (Source: PM Solutions)