PMI's The High Cost of Low Performance 2014
reveals the major issues that organizations and leaders worldwide are facing. This year's Pulse research exposes a wide chasm between an organization's actual state and the state of success. Projects, including those focused on an organization's highest priorities--its strategic initiatives--are suffering. And while strategic initiatives are essential to success in today's increasingly complex business world, an alarming 44% of initiatives fail in implementation.
To remain competitive, organizations must focus on three critical areas:
- People: Organizations must focus on the development of their talent and managing their people through rapid organizational changes that stem from new strategic initiatives. Furthermore, organizations need to ensure executive sponsors are in place to help drive these changes.
- Processes: Organizations must fully understand the value of project management and mature their project, program and portfolio management capabilities along with establishing and using standardized project management practices.
- Outcomes: Organizations must continually focus on the outcomes of the intended benefits of their projects and programs by measuring and communicating the value of these benefits to the organization.
The full 2014 Pulse of the Profession®
report is available on PMI.org. Know what's keeping your executives up at night. What you'll learn will help you start a conversation with them on the importance and value of aligning project and program management with your organization's strategic goals.
The newest edition of the Pulse features feedback and insights from over 2,500 project management leaders and practitioners across North America; Asia Pacific; Europe, the Middle East, and Africa (EMEA); and Latin America and Caribbean regions.
The views expressed within the PMI Voices on Project Management blog are contributed from external sources and do not necessarily reflect the views and opinions of PMI.