Project management
Why Project Management Resources Are So Tight
In an ideal world, every IT project would succeed. However, a new study underscores how a lack of project management oversight can undo IT projects.
The Rise of the Project Management Office
64% report they have established a formal project management office. The IT PMO (34%) is the most popular type of PMO, up from 28% in 2015. Enterprise PMO adoption increased to 29% from 17% in 2015.
Rate of Project Failure
Just over half (55%) admit they have experienced a failed project in the past 12 months.
PMO Benefits
Respondents said he key benefits of setting up a PMO include delivering projects on time and on budget (50%) and creating business value (31%).
PMO Obstacles
Meeting stakeholder expectations (66%), staying on budget (63%), achieving business outcomes (61%) and meeting deadlines (61%) are the biggest challenges facing PMOs.
Shortage of PMO Resources
More than 70% of organizations report they do not have enough resources to meet incoming project demand. Just under half (46%) say marshalling resources is their top challenge.
Lack of PMO Alignment
More than half of organizations believe their projects and resources are not well or very well aligned with strategic business goals.
Pulling From the Same Resource PoolA full 89% report leveraging the same resource pool for strategic projects and operational work—a significant increase from 72% in 2015. Nearly half (47%) differentiate between strategic and operational work.
Project Management Scoring
Scoring (49%) is the most popular method among organizations that have a formal methodology for aligning and prioritizing projects. Organizations that are not using any formal methodology to rank their projects decreased to 17% from 24% in 2015.
Using PPM Systems
Less than half (44%) of respondents say they do not have a solution in place. While this number may seem high, it is an improvement from 2015, when 55% of respondents reported not having a project portfolio management (PPM) system in place.