Project Management Productivity (PM)
1. As a practice, PM is 28 times more productive in organizations that use it than in those that don't.
(IOC)
Organizations that use HR techniques are 28% more likely to meet their target business goals.
This highlights the need for project managers to implement the necessary measures to increase project productivity.
2. Poor project management planning results in a waste of 11.4% of company resources.
(PMI)
It's not enough to make project management an afterthought.
Project managers should anticipate all possible outcomes to optimize resource management and reduce costs.
A good plan leads to a more organized and efficient way of working, allowing project managers to avoid unnecessary losses.
3. The three main determining factors for the success of human resource management software are ease of integration, usability, and reliability. That said, current solutions are not yet able to satisfy these factors, according to 73% of businesses.
(Hive)
Many understand that project management software can increase the efficiency of certain project management tasks.
Integrations, ease of use, and reliability are highlighted as the three critical factors for the success of performance management software.
Unfortunately, current solutions do not meet these requirements for 73% of businesses.
In other words, there is still plenty of room for growth in project management software.
Project Management Priorities
4. A culture that places project management at the top is only crucial for 46% of the organizations surveyed.
(PMI)
There are many priorities in the business world, and human resource management is not yet among the most important.
Only 46% of organizations surveyed say it is crucial to have a culture that places the GP at the top.
Organizational structure, leadership, and business strategy are among the few other variables that come before project management for these businesses.
Image credit: Workamajig.com
5. 23% - the number of organizations that use software intended for project management.
(Ringing)
Worryingly, only 23% of organizations use software for project management.
Hence the following question: “How many businesses realize the benefits of good HR management software and use the right software”?
6. As many as 67% of businesses that say staff management is not essential fail.
(PMI)
This is an interesting statistic that observes the long-term effect of those who do not adopt project management.
According to recent studies, as many as 67% of businesses that say project management is not necessary end up failing.
The need for project management
7. 52% - survey respondents who are rather unhappy with the current project management provisions in their company.
(Ringing)
People involved in the daily management of software projects can face different challenges.
According to the latest survey results, 52% of respondents are quite unhappy with the current project management arrangements in their company.
Many employees understand the benefits of applying project management techniques, but various barriers prevent them from doing so.
8. No less than 33% of project management professionals did not have the (full) blessing of their organization to invest in project management software.
(Hive)
Project managers themselves find it difficult to decide which tools to use, especially when there are concerns about the project budget.
According to the results of a recent survey, as many as 33% of project management professionals faced various objections when they decided to invest in project management software.
Trying to do your job without the right tools is difficult, but that's exactly what a third of project managers experience.
9. According to 80% of project managers, good project portfolio management is essential to influence key decision makers.
(Axelos)
A PM portfolio is one of the most critical aspects in influencing key decision makers.
80% of respondents say that having a project management portfolio is critical to influencing the people who matter.
PM professionals must have a clear and understandable display of their work and the results obtained.
This makes it easier for senior management to make better decisions about the project manager and what can be achieved by giving the green light to certain projects.
Project Management Market
10. No less than 44% of managers don't believe in project management software.
(Hive)
When it comes to the benefits of personnel management, not everyone believes in it.
In fact, according to a survey conducted by Hive, as many as 44% of managers don't think performance management software is necessary.
This lack of conviction can prevent a company from adopting a project management system and prevent it from realizing its benefits.
11. 35% of project managers still use Microsoft Excel for resource planning.
(Ringing)
The famous spreadsheet Microsoft Excel is still used as a project management tool.
According to the results of a recent survey, as many as 35% of project managers still use Microsoft Excel to plan the resources they may need for their tasks.
While not a bad tool to use, it was not designed for project management and is generally not sufficient to meet all the needs of the project manager.
This is especially the case when it comes to larger projects.
Image credit: Workamajig.com
Project Management Careers
12. There are 1,279,290 project managers in the United States.
(U.S. Bureau of Labor Statistics)
Over one million people work as project managers in the United States.
This means that there is a significant demand for project management professionals, which is a good motivation if you are considering following this career path.
13. A project manager earns just over 66,000 dollars a year in January 2021.
(Glass door)
The average salary for a project manager in January 2021 was around 66,000 dollars.
Opinions differ as to whether the salary is too high, too low, or just right.
Some say it's a lot of money for a job that sometimes doesn't even require a bachelor's or master's degree.
Others, on the other hand, say that the salary of PMs is too low compared to the amount of work they have to do.
This figure may vary depending on where you live, the size of your business, and your industry.
14. Of all organizations that employ project managers, 61% provide a career plan, of which 47% have a clearly defined and direct way to progress.
(PMI)
Career progression is critical for all workers, and project managers are no different.
PMI recently conducted a survey and discovered that 61% of organizations that employ project managers provide a career roadmap for their project managers, with 47% offering a clear way to advance on said roadmap.
This is good news because it shows that there is growth potential for this position.
15. Professionals who have obtained a certification in project management earn 22% more than those who do not.
(PMI)
Being a PMP (project management professional) is essential if you want to succeed in this field.
According to the PMI, professionals with a certification in project management earn 22% more than those with no qualifications.
The right professional will generally bring a lot of value to the organization and will be able to manage larger projects while achieving better results.
16. Comparing 2020 to 2019, 6% more organizations have project managers among their employees.
(Ringing)
A 6% increase in the number of project managers employed in one year is an interesting figure.
This means that more and more businesses are beginning to value their project managers and to see the benefits of their presence within the organization.
What does a project manager do?
The duties of a project manager are as follows.
Ensure that nothing breaks down during project implementation
The project manager is responsible for planning and managing a particular stage or task.
Their responsibilities also include making sure employees get what they need to do their jobs, resolving issues between team members, and adjusting plans as needed.
In addition, they should ensure that the company's values are respected throughout the implementation of the project.
Various project management tools make it possible to guarantee the smooth running of these projects.
Ensure that their project team functions as a cohesive unit.
Project managers are responsible for planning and managing certain steps or tasks assigned to them as part of a project.
In addition, they should ensure that company values are respected during the process of implementing this particular task or stage of work.
Teamwork is one of the best ways to ensure that the above is achieved.
Communicate with team members, stakeholders, and customers
Project performance depends on real-time communication between team members, stakeholders, and customers.
It is the responsibility of the project manager to ensure that this communication goes smoothly so as not to create confusion or misinformation.
A lack of communication is one of the main causes of project failure, and a good project manager can ensure that this never happens.
In addition, the GP must manage conflict issues between workers and other parties on a construction site.
Ensure that the quality standards applicable to the work of your team are respected
Poor project management is management where quality standards are not met and everything that can affect the final product does not work.
The project manager should ensure that team members comply with appropriate quality control measures.
The project manager should ensure that conditions allowing this unacceptable behavior are removed when they do not allow it.
Plan projects in advance
Project management practices are closely linked to project planning.
A project manager should ensure that their project is planned in advance based on the list of requirements set out by a client or other involved parties and ensure that it meets all quality standards while being completed within a specific time frame.
Project management training focuses on planning, which is one of the essential components.
Project management training also focuses on planning, which is the key to success.
The project plan consists of the steps required to complete the task or stage for which it is responsible and should include all documentation used during this process.
This includes documentation related to team members' resumes, quality control files, cost analysis reports, and timelines for the various stages.
Resource tracking
The project manager must ensure that the resources needed to complete a job or a project are available and in sufficient quantity to complete the task at hand within a given time frame.
He should keep track of resources and inform his team of this information when it changes.
These are all part of what we consider to be resources to be shared within a team.
Respect deadlines
The project management software market is full of tools that help the project manager meet deadlines and other milestones on the schedule of a given project.
These tools help PMs achieve the specific goals of their projects and those set by customers, colleagues, and other stakeholders.
In addition, they help him stay organized and have total control over the resources needed to successfully complete a project or a particular stage of a project.
Attend all sorts of meetings related to project management
A project manager also works to meet with the various groups involved in the project to ensure that everything is going according to plan, keeping everyone up to date.
He should ensure that all parties involved are satisfied with a given step or process and that they are fully comfortable with his project management techniques and those of his team.
Risk Management
Risk management is one of the most complex aspects of project management.
This is also where many beginner mistakes are made in terms of project implementation.
A great deal of effort and attention to detail is required to prevent such problems from happening.
Risk management is often the most difficult aspect of any project and almost always requires time and effort from everyone involved.
Using the right project management software allows risks to be managed at any stage of implementation.
Different project management methodologies
Four of the most popular project management methodologies are:
- The Waterfall methodology
- Agile methodology.
- Scrum methodology.
- The Kanban methodology.
Let's quickly go through each of them.
1. Waterfall
The waterfall method, which is one of the original forms of project management, is still useful in today's work environment.
A project manager using the cascade method coordinates the various teams to ensure that they are all working towards a common goal.
One stage is completed before another begins, and this process continues until the final stage of the project is complete.
2. Agile
La agile methodology is a very flexible approach to project management. It allows a team to work together and make changes to improve a given aspect of a project.
Agile is a software development method that uses incremental development to create projects.
It was originally designed as an alternative to the cascading project management method, which is still used by many businesses today.
The agile project management methodology focuses on collaboration and self-organization in order to achieve tasks and goals more effectively and efficiently than other implementation methods.
Various agile project management tools help with all aspects of implementing methodologies.
3. Scrum
Scrum project management is a widely used agile methodology and also takes its name from rugby, the sport that inspired its creation.
Scrum project management focuses on getting it right by focusing on high-quality products that are created within a specified time frame.
One of the essential characteristics of the Scrum project methodology is that it aims to maximize productivity by creating a team environment that allows for open discussions and the exchange of ideas between everyone involved.
4. kanban
The Kanban project management approach focuses on visualizing tasks to ensure that everything runs smoothly and that it can be adjusted if necessary to account for changes in a project.
It requires less advance planning as it is meant to be adaptive, which means that the Kanban method will change as a given aspect of a project evolves.
Certifications
A variety of project management certifications are available for those looking to improve their resume.
The most common certification is the professional certification in project management or PMP. It is offered by the Project Management Institute (PMI) and can be obtained through experience or training.
In addition, the Project Management Office (PMO) is a group of entities that aims to standardize processes within an organization.
While it's not a certification, it's a good service to have - resources permitting.
The state of project management in the world
Project management has become an integral part of many businesses, with project managers in high demand across a variety of industries.
Some of the best management positions are reserved for those who have earned project management certifications or degrees and who have the technical skills needed to ensure profitability and a high rate of project success.
When it comes to taking the pulse of the profession, understanding what makes project goals succeed or fail is crucial.
Various organizations report that project management is an integral part of their daily activities, while others rarely use it for specific initiatives.
Artificial intelligence is also making waves in the project management sector, with process under development to ensure the successful implementation of powerful AI tools.
Project management technology has also seen significant improvement, with numerous tools created to help make businesses more efficient.
Project Management Disadvantages
Projects sometimes fail, with some causing significant damage to an organization.
The failure of a project can make the project manager look bad, which can cause him to lose his job.
A failure rate in areas involving IT projects (among others) is often considered unacceptable, especially if the key performance indicators set by project managers are not met.
Most business sectors consider cost overruns, failures, or delays to be unacceptable. That's why implementing appropriate project management from the start is essential for long-term success.
Summary.
Project management is an area of expertise used in a variety of sectors that can be improved through training and certification.
While there are both success and failure statistics in project management, it is generally a question of companies making the right decision when recruiting.
It is essential to have a qualified person who understands how successful project management works.
With major organizations (such as PWC, Wrike, Capterra, Gartner, KPMG, Mckinsey, and others) studying the effect of project management across multiple industries, the demand for qualified project managers is expected to increase over the next few years.
A well-trained project manager who is able to respect the appropriate protocols will make all the difference in the success of a project.
That said, project failure statistics can often be attributed to a lack of understanding and can be avoided with the help of a professional project manager.
Have you ever used an agile project management methodology in your workplace?
Did any of the statistics above strike you?
