Construction Project Management Statistics 2024 – Everything You Need to Know

• 55% of project managers cite budget overrun as a reason for project failure. ^[3]
• The implementation of a management process, however, is shown to reduce the failure rate to 20% or below. ^[3]
• A lack of clear goals is the most common factor (37%). ^[3]
• IT project failure statistics show that 75% of respondents think their projects are always or usually doomed to fail from the start. ^[3]
• 55% of project managers cite budget overruns as a reason for project failure. ^[3]
• Construction project failure statistics show that over 50% of construction project owners worldwide (and 61% in the US). ^[3]
• 41% of underperformers say inadequate sponsor support is the main reason for project failure. ^[3]
• 41% of underperformers and 17% of high performers report inadequate sponsor support as the main reason for failure, according to project management failure statistics. ^[3]
• Mostorganizations have a 70% failure rate. ^[7]
• Using this definition of success, A 4PM survey found that most organizations have a project failure rate of 70%, the main reason for this failure being poor project management. ^[7]
• The failure rate of large projects with budgets exceeding US$1 million was found to be almost 50% higher than for projects with budgets below $350,000. ^[7]
• 41%of businesses with a high project failure rate blame a lack of involvement from higher ups in project management. ^[6]
• Over62%of highperforming companies use real time document editing and file version control features Unmet or unclear task dependencies account for12%of project failures. ^[6]
• With US companies losing $122 million per billion invested annually due to project management failure, statistics show that 50% of companies have failed to meet a final project goal due to improper project management at one point or another. ^[4]
• For instance, the failure rate for all projects hovers around 70%, while those with larger budgets have a 94% chance of failure. ^[4]
• Notably, the failure rate for construction projects was 3–6% higher compared to previous years. ^[4]
• For reference, old statistics show that one third of all projects fail, and recent stats confirm not much has changed, with 70% of companies reporting at least one project failure within the last year. ^[4]
• Around 67% of projects of organizations that undervalue project management as an essential element for driving change result in failure. ^[0]
• Also, IT projects with budgets exceeding $1 million have a 50% higher failure rate than projects with budgets below $350,000. ^[0]
• If management takes five hours or longer to make decisions, the failure rate of agile projects is 22% while the likelihood of projects producing unsatisfactory results is 53%. ^[0]
• Companies that don’t value project management experience 70% more project failures. ^[1]
• Companies that underrate project management see almost 70% more project failure. ^[1]
• Namely, the former have 11% of project failures, while the latter note 21% of unsuccessful projects. ^[1]
• While project management aims to avoid any project failure, some projects don’t deliver their goal, go over budget, or don’t meet the deadline, which results in 11.4% of wasted investments. ^[1]
• Also, 67% more projects are reported as failures within organizations that don’t value project management sufficiently. ^[1]
• In terms of maturity in competencies, organizations that rank higher have 11% project failures, whereas organizations that rank low have a higher percentage of projects that fail (21%). ^[1]

Construction Project Management Adoption Statistics

• Project management facts show that the adoption of PM software remains low despite the fact that 77% of high performing projects use it. ^[3]
• According to project management statistics, in 2020, the adoption of these solutions increased and pushed digital transformation across many industries. ^[4]
• 28% of organizations believe that the adoption of agile methods has improved their project success rates. ^[0]

Construction Project Management Latest Statistics

• 5%increase in engineering and construction spending levels compared to 2021. ^[2]
• [Research & Markets] -Click to Tweet 12%increase in total construction across 2021 compared to 2020. ^[2]
• Predicted35%global growth in next 10 years. ^[2]
• 58%of owners said they’ve used or plan to use designbuild, moving away from traditional designbid. ^[2]
• [FMI] -Click to Tweet Designbuild projects are completed102%faster than traditional designbid. ^[2]
• 23%of firms report they are taking steps to improve jobsite performance with lean construction techniques, tools like BIM, and offsite prefabrication. ^[2]
• 4.7%compound annual growth in modular construction by 2026 is predicted. ^[2]
• [Research & Markets-Click to Tweet About90%of firms using prefabrication report improved productivity, improved quality, and increased schedule certainty compare to traditional stick. ^[2]
• 14%of trades report prefabricating more than50%of their work in the shop versus field. ^[2]
• 72%of firms say projects have taken longer than anticipated.[AGC]. ^[2]
• -Click to Tweet 46%of firms report a project was postponed in but was rescheduled, but 32% had projects postponed or canceled and has not been rescheduled.[AGC]. ^[2]
• 44%of firms are putting longer completion times into their bids. ^[2]
• Tweet Over50%of engineering and construction professionals report one or more underperforming projects in the previous year. ^[2]
• 69%of owners say poor contractor performance is the single biggest reason for project underperformance. ^[2]
• 68%of general contractors reported experience problems “getting off the job” on at least25%of their projects. ^[2]
• 66%of general contractors are carrying added costs from overtime/second shifts on at leastthree quartersof their projects due to schedule slippage, with50%of them needing to extend the project end date. ^[2]
• [Autodesk & Dodge Data & Analytics] -Click to Tweet Just25%of projects came within10%of their original deadlines in the past3years. ^[2]
• And only31%of all projects came within10%of the budget in the past3years. ^[2]
• Large projects typically take20%longer to finish than scheduled and are up to80%over budget. ^[2]
• 98%of megaprojects become delayed or over budget. ^[2]
• 77%of megaprojects around the globe are 40% or more behind schedule. ^[2]
• 6%increase in wage and salaries for construction workers in 2021. ^[2]
• to Tweet 84%of firms report construction costs have been higher than anticipated.[AGC]. ^[2]
• -Click to Tweet 14.1%increase in construction building material November 2021. ^[2]
• 53%of contractors in the U.S. feel that time constraints/ urgency of decisions presented the greatest risk to decision making. ^[2]
• 37%of construction firms say their companies missed budget and/or scheduled performance targets as a result of COVID. ^[2]
• 25%of all projects grow past scope of work in the field by over 30%. ^[2]
• Average of35%of all construction projects will have a major change. ^[2]
• Up to30%of initial data created during design and construction phases is lost by project closeout. ^[2]
• 82%of owners feel they need more collaboration with their contractors. ^[2]
• 78%of engineering and construction companies believe that project risks are increasing. ^[2]
• 43%of construction firms prioritize immediate financial goals over organizational resilience. ^[2]
• 14%of all rework in construction globally is caused by bad data. ^[2]
• Up to70%of total rework experienced in construction and engineering products are a result of design. ^[2]
• 52%of rework is caused by poor project data and miscommunication. ^[2]
• 9%of total project cost is closer to the actual total cost of rework—considering both direct and indirect factors combined. ^[2]
• Between2%and20%of total costs is the estimated amount of rework, which has a negative impact on a project schedule. ^[2]
• 62%of contractors report high levels of difficulty finding skilled workers. ^[2]
• 74%of contractors say they are asking skilled workers to do more work. ^[2]
• 72%of contractors report a challenge in meeting project schedule requirements. ^[2]
• 60%of contractors are putting in higher bids for projects [U.S. Chamber of Commerce]. ^[2]
• 44%of firms indicated labor shortages caused them to lengthen completion time for projects already underway. ^[2]
• 73%of firms report it will be more challenging to fill hourly craft positions. ^[2]
• [AGC] -Click to Tweet Percentage of young construction workers declined by30%from 2005. ^[2]
• 40%of construction jobs were lost between 2006 2011 due to the recession. ^[2]
• 21.4%industry wide turnover rate, making it one of the highest rates of all industries. ^[2]
• 20%of an individual’s base salary is the average cost of a turnover. ^[2]
• 29%of firms report investing in technology to supplement worker duties. ^[2]
• 29%of firms report they are providing incentives and bonuses to attract craft workers. ^[2]
• 92%of contractors report being at least moderately concerned about their workers having adequate skill levels. ^[2]
• to Tweet 12.8%U.S. Construction industry is unionized. ^[2]
• 32.6%of U.S. construction workforce identifies as Hispanic or Latino. ^[2]
• [TheBureau of Labor Statistics] -Click to Tweet Only13%of construction firms are women owned. ^[2]
• 56%of high trust construction companies report good turnover rates – saving them up to$750,000annually. ^[2]
• At high trust companies,4 out of 5projects are for repeat customers, potentially increasing gross margins by2. ^[2]
• -Click to Tweet High trust construction companies are2Xas likely to be explicit about requests. ^[2]
• Tweet 43%of high trust construction companies make collaboration central to how they work. ^[2]
• -Click to Tweet High trust companies are2Xmore likely to have managers that share consistent feedback. ^[2]
• 45%of construction professionals report spending more time than expected on non. ^[2]
• 60%of general contractors see problems with coordination and communication between project team members and issues with the quality of contract documents as the key contributors to decreased labor productivity. ^[2]
• 68%of trades point to poor schedule management as the key contributors to decreased labor productivity. ^[2]
• -Click to Tweet 50%or more impact on productivity as a result of issues with construction logistics. ^[2]
• -Click to Tweet 10%impact on productivity as a result of late crew build. ^[2]
• -Click to Tweet 50%variation in productivity of two groups of workers doing identical jobs on the same site and at the same time. ^[2]
• This gap in productivity was found to vary by500%at different sites. ^[2]
• 50%of E&C firms (and33%of project owners). ^[2]
• Only16%of executives surveyed say their organizations have fully integrated systems and tools. ^[2]
• Only18%of firms reported consistently using mobile apps to access project data and collaborate. ^[2]
• 63%of contractors are currently using drones on their projects. ^[2]
• 37%of contractors expect to adopt equipment tagging by 2024. ^[2]
• 33%of contractors expect to use wearable technology in the next three years. ^[2]
• 90.9%of firms report using smartphones on a daily basis for work purposes. ^[2]
• 62.4%of companies report using mobile devices on the field for daily reporting. ^[2]
• [JB Knowledge] -Click to Tweet 21.4%of construction firms use 3 or more mobile apps for their projects. ^[2]
• 95%of all data captured in construction and engineering industry goes unused. ^[2]
• 19%UK construction firms say that their projects are entirely paper. ^[2]
• 27.8%of contractors do not bid on projects involving BIM. ^[2]
• 35.2%of construction firms cite “lack of staff to support the technology” as the primary limiting factor to adopting new technology. ^[2]
• 28%of UK construction firms say that lacking the information they need on site is the single biggest factor impacting their productivity. ^[2]
• 59%of companies state that their workforce doesn’t have the skills needed to work with BIM. ^[2]
• 56%of construction firms do not have a dedicated R&D budget. ^[2]
• 75%of respondents stated an increasing need for rapid decision making in the field. ^[2]
• -Click to Tweet Only36%of firms have implemented a process for identifying bad data and repairing it. ^[2]
• 14%of all construction rework may have been caused by bad data creating$88.69. ^[2]
• 60%of contractors rely on one tool. ^[2]
• 74%of all the multi tool contactors stated that they end up relying on one primary toll to track key processes. ^[2]
• 58%of contractors are using standardized inputs on at least half of their projects. ^[2]
• 41%of contractors agreed that non standardized data input leads to inconsistent, inaccurate, incomplete, and unusable data. ^[2]
• 70%of contractors believe that advanced technologies can increase productivity(78%), improve schedule(75%), and enhance safety(79%). ^[2]
• [USG + U.S. Chamber of Commerce] -Click to Tweet 52%consider the needs of field staff a top consideration for investing in technology. ^[2]
• But only28%actually receive feedback from field staff before investing in technology. ^[2]
• 13 21%)in the Design & Engineering and Construction phases. ^[2]
• and$0.30.5 trillion (10 17%). ^[2]
• AI has the potential to increase the construction industry’s profits by71%by 2035. ^[2]
• And55%report BIM processes reduced the time required for communications. ^[2]
• 47%of construction firms use thirdparty tools, with around60%leaning on desktop applications and40%using cloud. ^[2]
• 32%of owners and contractors use internally developed tools. ^[2]
• it takes up to 20% of the overall project budget. ^[3]
• Editor’s Choice 70% of all projects fail. ^[3]
• 42% of companies don’t understand the need or importance of project management. ^[3]
• 62% of successfully completed projects had supportive sponsors. ^[3]
• The percentage of projects that fail is fairly high a whopping 70% of all projects fail to deliver what was promised to customers. ^[3]
• Organizations that undervalue project management see 50% more of their projects failing. ^[3]
• 3. 9.9% of every dollar is wasted due to poor performance. ^[3]
• The latest project management stats show that 58% of organizations fully understand the value of implementing project management as a way to achieve better performance. ^[3]
• This means that 42% of companies undervalue the importance of project management as a crucial component for project success. ^[3]
• The Pulse project management statistics show that high performing organizations with proven PM practices in place have met their original goals 2.5 times more often (89% vs. 34%). ^[3]
• 75% of respondents in the IT industry lack confidence in project success. ^[3]
• Out of this 75%, 27% constantly feel this way. ^[3]
• At the same time, the majority of respondents (80%). ^[3]
• 44% of projects fail due to a lack of alignment between business and project objectives. ^[3]
• They have further reported that only 31% of their projects were delivered within 10% of the budget and 25% within 10% of the original timeframe. ^[3]
• Organizations with a higher percentage (more than 80%) actively engaged sponsors to have 40% more successful projects than organizations with a lower percentage of projects (less than 50%). ^[3]
• At the same time, 55% of organizations don’t have access to real. ^[3]
• The percentage of organizations using spreadsheets to manage their agile projects dropped from 74% to 67%. ^[3]
• Jira follows with 19.50%, while Trello comes in third with 5.51%. ^[3]
• 93% of organizations use standardized project management practices. ^[3]
• Consistent practices reduce the risk and lead to better results which is why the majority (93%). ^[3]
• Project management statistics show that 73% of organizations that use formal project management approach always or often have met the goal or intent. ^[3]
• 63% have completed the projects within budget and 59% have delivered the projects on time. ^[3]
• By comparison, only 58% of organizations that rarely/never use formal PM methods have met the initial goals, 48% complete the projects within budget, and 43% have delivered the projects on time. ^[3]
• 44% of high performing organizations use predictive approaches. ^[3]
• 44% of the high performers use predictive approaches, 30% use agile methods, while 23% leverage hybrid approaches. ^[3]
• Only 4% of high performing organizations use other methods. ^[3]
• Multitasking causes a 40% productivity drop. ^[3]
• If you try to do everything by yourself, you could see a productivity drop by 40%. ^[3]
• 83% of high performing organizations have ongoing project management training. ^[3]
• 81% further prioritize the development of project management technical skills and 79% prioritize the development of project management leadership skills. ^[3]
• The project management statistics for low performers in these areas are 34%, 13%, and 11%, respectively. ^[3]
• Nearly 70% of projects met their original goals or business intent. ^[3]
• In 2016, 62% of projects met the original business goals and only 50% were completed within the set budget. ^[3]
• In 2018, these numbers went up to 70% and 60%, respectively. ^[3]
• 60% of respondents point to poor resource management as their biggest challenge. ^[3]
• Other issues included poorly trained project sponsors (33%) ineffective PPM solution deployment (30%), and lack of governance (26%). ^[3]
• Roughly 50% of the respondents say so. ^[3]
• Risk management comes in second with 40%, followed by planning with 35%, and resource management with 25%. ^[3]
• 68% of projects don’t have an effective project sponsor. ^[3]
• Project management statistics show that almost a third of organizations (27%). ^[3]
• Only 3% of the respondents have said they never use risk management practices. ^[3]
• Also, 78% of respondents in the Geneca project management survey have said they would like the business stakeholders to be more engaged in the project. ^[3]
• 87% of senior project managers fully understand the importance of PM practices. ^[3]
• Among them, 87% have said they completely understand the importance of PM practices. ^[3]
• On the other hand, the lack of involvement from senior management is the main reason why 33% of projects fail. ^[3]
• 80% of high performing organizations have reported using project management practices which further highlights this notion. ^[3]
• The estimates show that the project management costs range between 7% and 11% of the project’s total cost. ^[3]
• When adding project control support, this figure might jump to 9. ^[3]
• Only42% of organizations are aligned with project strategy. ^[7]
• PMI research shows that just 42% of organizations report a high alignment of projects with good organizational strategy. ^[7]
• This lack of alignment most likely contributes to the surprising result that nearly one half of all strategic initiatives (44%). ^[7]
• 2.5% of companies successfully complete 100% of their projects. ^[7]
• A study by PricewaterhouseCoopers, which reviewed 10,640 projects from 200 companies in 30 countries and across various industries, found that only 2.5% of these companies successfully completed 100% of their projects. ^[7]
• According to a Geneca study, 75% of respondents lack confidence in project success. ^[7]
• 75% of respondents admit that their projects are either always or usually “doomed right from the start,” including 27% who always feel this way. ^[7]
• Meanwhile, 80% of subjects admitted to spending half their time on rework. ^[7]
• A Cortex study shows that 57% of projects fail due to breakdown in communications. ^[7]
• A survey by Capterra shows that 56% of organizations have used only one project management system. ^[7]
• PMI reports demonstrate that 77% of high performing companies understand the value of project management. ^[7]
• At the same time, only 40% of low performing companies understand the value of project management. ^[7]
• I have no idea if he actually said that about statistics, since 95% of Churchill quotes circulating online are fake, as someone once said. ^[5]
• That’s an increase of $35.4 billion compared to the same time last year, or a 3.1% increase. ^[5]
• Growth has been a lot stronger lately on the residential side , increasing 5.5% from $456.6 billion in January 2016 to $481.9 billion in January 2017. ^[5]
• The growth has been a lot more sluggish on the non residential side, increasing by just 1.5% over the same time period. ^[5]
• Commercial projects have been chugging right along with a 10.6% increase over that period. ^[5]
• The Bureau of Labor Statistics reports that 985 construction workers died in 2015 in the United States, an increase of 16% over 2012’s total of 849. ^[5]
• A report from the National Association of Home Builders found that 10.6% of the cost of a typical home construction project are things that can’t be categorized and get stashed in the broad “other” category. ^[5]
• So why do more than half of construction managers spend 2% or less of their revenue on IT?. ^[5]
• And why do only 42% of construction managers have a dedicated IT staff they can depend on?. ^[5]
• 8.0% of all Construction Managers are women, while92.0%aremen. ^[8]
• The most common ethnicity of Construction Managers is White (78.0%), followed by Hispanic or Latino (13.9%) and Black or African American (3.4%). ^[8]
• In 2021, women earned 91% of what men earned. ^[8]
• The top 10% of highest paid Construction Managers earn as much as $134,000 or more. ^[8]
• Among Construction Managers, 8.0% of them are women compared to 92.0% which are men. ^[8]
• The most common ethnicity among Construction Managers is White, which makes up 78.0% of all Construction Managers. ^[8]
• Comparatively, there are 13.9% of the Hispanic or Latino ethnicity and 3.4% of the Black or African American ethnicity. ^[8]
• White, 78.0% Hispanic or Latino, 13.9% Black or African American, 3.4% Asian, 2.7%. ^[8]
• Unknown, 1.6% American Indian and Alaska Native, 0.4% Construction Manager Race Percentages. ^[8]
• Using the Census Bureau data, we found out how the percentage of each ethnic category trended between 2010 2019 among Construction Managers. ^[8]
• Interestingly enough, the average age of Construction Managers is 40+ years old, which represents 70% of the population. ^[8]
• 61% of Construction Managers earn that degree. ^[8]
• A close second is Associate Degree with 18% and rounding it off is Master’s Degree with 9%. ^[8]
• Bachelors, 61% Associate, 18% Masters, 9% High School Diploma, 7%. ^[8]
• Other Degrees, 5% Construction Manager Degree Percentages Construction Manager Wage Gap By Education. ^[8]
• < 50 employees 50 100 employees 100 500 employees 500 1,000 employees 1,000 10,000 employees > 10,000 Company Size Percentages Employees with the Construction Manager job title have their preferences when it comes to working for a company. ^[8]
• By looking over 32,027 Construction Managers resumes, we figured out that the average Construction Manager enjoys staying at their job for 1 2 years for a percentage of 37%. ^[8]
• 68,469 Profession Percentages of LGBT Job Openings. ^[8]
• The most common foreign language among Construction Managers is Spanish at 56.5%. ^[8]
• The secondmost popular foreign language spoken is French at 7.7% and Arabic is the third most popular at 4.3%. ^[8]
• Spanish, 56.5% French, 7.7% Arabic, 4.3% Italian, 4.1% Portuguese, 3.5%. ^[8]
• Planned out Stable demand will likely lead to consistent operating conditions for industry companies Construction Project Management Services in the US industry trends. ^[9]
• attach_money Market Size $192bn business Number of Businesses 10,531 poll Average Industry Profit Margin x.x% Purchase this report or a membership to unlock the average company profit margin for this industry. ^[9]
• Feasibility studies, including environmental impact assessment and community consultation 00.5% increase 0. ^[9]
• 124,073 Construction Project Management Services Employees in the US in 2024 1.8% Construction Project Management Services in the US Employment Growth in 2024 0.1% Construction Project Management Services in the US Annualized Employment Growth 2017–2024. ^[10]
• The number of people employed in the Construction Project Management Services industry in the US declined 0.1% on average over the five years between 2017 and 2024. ^[10]
• 88%of remote workers face inconsistent leadership and miscommunications with other team members 83%of employees report feeling burnt out by a high volume of emails COVID 19 has increased employee burnout by12%in two months. ^[6]
• 20%of employees cite an unmanageable workload as the number one cause of burnout. ^[6]
• According to the study from the Project Management Institute, businesses with a clear project management structure in place have 38% more successful projects that met their original goals than those that did not. ^[6]
• Additional statistics showing the value of project management are Only21%of companies have standardized project management systems like waterfall and agile in place 1 in 6IT projects have a cost overrun of200%. ^[6]
• IT projects with a budget of at least$1 millionare50%more likely to fail to meet business objectives. ^[6]
• 41%of organizations reporting poor project performance say they don’t get enough support from project management and project sponsors. ^[6]
• 61%of companies using project management tools completed projects on time, while only41%of those not using them did. ^[6]
• 50%of project managers spend at least one full business day. ^[6]
• 80%of employees spend half of their workweek on “rework” caused by poor communication Close to46%of team leaders say hitting project deadlines is their biggest problem. ^[6]
• 90%of projects require team participation as opposed to individual responsibility. ^[6]
• 31%of companies say that miscommunications about project objectives is the number one reason why projects fail 59%of workers in the United States say communication is their biggest obstacle. ^[6]
• 45%of team members say Gantt charts are their most used project management feature 55%of team members say project objectives are unclear Only9%of. ^[6]
• 40%of project managers spend most of their time micromanaging employee responsibility and answering questions over email. ^[6]
• 71%of business executives say employee engagement is one of the top factors in project success. ^[6]
• Only52%of executives say their employees’ time allocation matches company priorities. ^[6]
• 76%of executives say agile project management tools will be the new normal Monday.comis used by over100,000teams across201industries. ^[6]
• According to expert researchers, the industry is forecasted to reach over $1.4 trillion by 2021. ^[11]
• the Bureau of Labor Statistics expects the demand for construction managers to grow 16% by 2020. ^[11]
• According to Concrete Construction, construction team members waste an average of 5.5 hours per week simply looking for revised drawings, material cut sheets, and project plan updates that should have been readily available. ^[11]
• According to stats, 59.5% of construction related injuries in 2017 were preventable if special attention had been paid to safety during the project planning phase. ^[11]
• Project management statistics say 77% of project teams disagree on when a project is actually done. ^[11]
• A recent construction planning efficiency and delivery time analysis noted that, on average, construction project planners predict delivery timelines with 58% accuracy. ^[11]
• Thanks to recent economic growth spurts, the U.S. construction industry now makes up a solid 4.1% of our GDP. ^[11]
• 86% of workers think they need to overhaul the way they learn, 84% believe they need to find new ways to boost productivity among their workforce, and 80% are concerned about the way they train and develop leaders within their company. ^[12]
• In 2019, 33% of companies were using freelancers or alternate solutions for IT projects .This trend will continue as more talent is needed and as competition for skilled and qualified individuals increases. ^[12]
• Projects are increasing in number and scope across all organizations – 35% finished 50 or more projects in 2018. ^[12]
• 24% of organizations start projects to create or update infrastructure, 19% do so to make strategic developments within their organization, and 13% do so to increase profits. ^[12]
• According to the World Economic Forum , one trend in the future of work, which will impact the future development of project management, is an increase in education around the world (, 2018). ^[12]
• According to WEF, 85% of respondents are expecting to further their use of big data and analytics. ^[12]
• In a study of 11 countries from a range of economic development levels, total job growth in project oriented roles is expected to be 33% overall by 2027. ^[12]
• Even worse, 54% of qualified employees with the right skills will need training and upskilling by the year 2024. ^[12]
• 41% of companies use some type of automation comprehensively .Project managers should be well versed in automation for things like email reminders about upcoming meetings or notifications about deadlines. ^[12]
• Companies are certain that use of new technology will increase in the future of project management –64% think robotics will be used more and 81% think AI will be used more. ^[12]
• 84% of respondents in one survey who agreed that new technology would require more training also stated that they are planning to boost financing for training. ^[12]
• Worldwide, only 8% of respondents in one survey use AI in their projects. ^[12]
• What’s more, 56% of companies in one study stated that they had no way to view project KPIs and analytics in real time, and 43% spent 1 or more days creatingproject reportsmanually. ^[12]
• Almost 50% of organizations are worried that by 2024, automation will decrease their employee count, but 38% of companies are expecting to expand with more employees in roles designed to increase productivity. ^[12]
• 47% of companies use agile approaches in their project process . ^[12]
• 95% of companies have completed at least some projects successfully using an agile project management approach. ^[12]
• an unexpected benefit.64% of companies noted that agile improved overall team morale. ^[12]
• 81% of organizations review budget throughout a project, and 83% review changes in time and cost throughout a project .This will increase, as will the frequency of reviews as project managers adapt to changing budgets, timelines, and needs. ^[12]
• 40% of companies have a central project management office, but within the past two years 30% of companies removed this office. ^[12]
• In IT projects, 75% of respondents in one survey stated that they believe that projects are often “doomed right from the start” .When project managers don’t believe in a project, their teams won’t either. ^[12]
• One major one –only 23% of respondents in one survey stated that project managers and stakeholders always agree on whether a project has been completed .One way to solve this is to define project objectives at the beginning of the project. ^[12]
• 58% of companies believe project success, as measured by meeting stakeholder needs, is increasing .This will help project managers prove their value and the value of their projects to organizations. ^[12]
• –66% of companies believe that project managers within the company have a positive reputation. ^[12]
• 70% of organisations have at least one failed project behind them. ^[4]
• Only 23% of organisations use fully standardised project management practices. ^[4]
• Agile organisations have approximately a 70% chance to be in the top quartile. ^[4]
• Agile methodology projects have a 64% success rate. ^[4]
• Gartner confirms that 85% of organisations are adopting or have already adopted a product. ^[4]
• KPMG conducted research for several years in a row, showing that about 58% of organisations understand the value proper project management brings to a company. ^[4]
• Notably, 32% of businesses reported change management practices were crucial and effective to organisational success. ^[4]
• According to project management stats, just 23% of organisations use standardised practices across the entire organisation. ^[4]
• On the other hand, 33% use them in most departments, and 38% use them but in some departments only. ^[4]
• Notably, 7% don’t use any standardised practices at all. ^[4]
• For instance, as a result of new trends in project management, the health sector in the US registered a 17% increase in hiring project management. ^[4]
• Project management industry trends in the last decade show that the EU spent €440 million on gas projects, which have already or will most likely fail. ^[4]
• Agile organisations have approximately a 70% chance to be in the top quartile of organisational health. ^[4]
• Agile represents a good contrast to the more traditional, waterfall model where development teams report a 49% success rate. ^[4]
• Around 27.4% of manufacturing companies use the agile method in project management. ^[4]
• Despite the latest project management facts released by Gartner, it doesn’t mean that each of the 85% of organisations has fully adopted this model. ^[4]
• Instead, 40% use this model, and the rest are slowly migrating. ^[4]
• Notably, some projects require a more traditional approach, resulting in 32% of organisations planning to integrate hybrid solutions to their approach. ^[4]
• This methodology reduces the focus from operational tasks and management by 45% and lends additional focus to employee management. ^[4]
• Based on one study, around 42% of organisations think it can be a good project management advisor, while only 3% believe it can totally substitute PMs. ^[4]
• Considering there are around 2.13 million full time equivalent workers in project management, they make up around 7.9% of the total workforce. ^[4]
• This percentage of workers contributes to 8.9% of the total GVA in the UK. ^[4]
• However, as a general rule of thumb, 20% of a project’s allotted time is spent on project management. ^[4]
• Project management statistics show that while not all projects completely fail, 50% of companies state that they regularly do not meet their desired deliverables for a project. ^[4]
• Recent studies have found that, on average, nationwide construction projects exceed their budget by 16% at minimum—and often far more. ^[13]
• Many lenders recommend including a 20% contingency right off the bat for cost overrun. ^[13]
• Imagine a 20% salary increase, and you’ll have a good idea of what a significant expansion this is!. ^[13]
• The vast majority of construction projects completed in twenty countries over the course of a 70 year period—85%, to be exact!—experienced cost overrun. ^[13]
• The overall average overrun was 28%. ^[13]
• Just 25% of projects came within 10% of their original deadlines over that same time period. ^[13]
• The 10% rise in material costs far exceeds the overall inflation rate of 1.8% in 2019. ^[13]
• According to McKinsey, boosting productivity could save nearly $1.7 trillion annually. ^[13]
• 61% reported that technology processes reduced project error. ^[13]
• According to the World Economic Forum, full scale digitization could save $1.2 trillion in the Design & Engineering and Construction phases alone. ^[13]
• Available to download in PNG, PDF, XLS format 33% off until Jun 30th. ^[14]
• Earn a Degree Breakthrough pricing on 100% online degrees designed to fit into your life. ^[15]
• Breakthrough pricing on 100% online degrees designed to fit into your life. ^[15]
• Only 46% of organizations place a high priority on a culture that values project management. ^[0]
• However, 52% of respondents are somewhat or very dissatisfied with the current level of PM maturity in their organization, more than the 45% rating in 2016. ^[0]
• Only 6% of organizations in Australia received more projects and worked on more programs during the COVID. ^[0]
• In addition, 48% of organizations in Australia always or often report project benefit tracking variations. ^[0]
• 61% of projects have highly involved sponsors. ^[0]
• 40% of the project and program governance activities of organizations are considered very effective. ^[0]
• 35% of project managers use MS Excel to build resource plans. ^[0]
• The percentage of organizations using spreadsheets to manage projects dropped from 66% in 2018 to 64% in 2019. ^[0]
• On average, 11.4% of investment is wasted due to poor project performance. ^[0]
• 61% of organizations provide project management training while 47% have a clear career path for project professionals. ^[0]
• An estimated 1,279,390 project management specialists and business operations specialists are employed in the United States. ^[0]
• Project management Professional certificate holders earn salaries that are 22% than those without certification. ^[0]
• Approximately, there were 6% more organizations with a project management office in 2020 (89%) than in 2019 (83%). ^[0]
• 74% of project professionals believe that more employees will work from home. ^[0]
• 54% do not have access to real time project KPIs. ^[0]
• 60% of project managers report that they always apply a defined project methodology. ^[0]
• 39% of project teams are composed of 610 people; 30.5% have more than 10 people; another 30.5% are composed of 1. ^[0]
• Also, 50% of organizations mostly or always baseline their project schedules. ^[0]
• 67% of organizations include project change management in their initiatives. ^[0]
• 72% of PMOs are projected to increase in scope and responsibilities, up from 61% in 2019. ^[0]
• 53% of organizations that are considered. ^[0]
• Project professionals manage 23% of the company’s initiatives by incorporating AI. ^[0]
• The top agile methods employed by organizations are daily standup (85%), retrospectives (81%), sprint planning (79%), sprint review (77%), and short iterations (64%). ^[0]
• 69% of project professionals state that their senior leaders value project management. ^[0]
• 67% of project managers believe that the complexity of programs and projects has increased over the past decade. ^[0]
• Additionally, 84% of CEOs have accelerated the development of a next generation operating model and the digitization of operations. ^[0]
• Surprisingly, 23% of projects do not undertake change management initiatives. ^[0]
• However, of the projects that do, 32% deem them extremely effective. ^[0]
• 59% of organizations conduct independent project performance reviews. ^[0]
• 63% of organizations work on projects that incorporate change management capability. ^[0]
• Meanwhile, in Australia, 57% of organizations use a centralized PMO to streamline project activities. ^[0]
• 51% of organizations require project professionals to have certification for their role. ^[0]
• Organizations that are highly mature in project management capabilities outperformed those that aren’t, as they met their goals 77% of the time. ^[0]
• 91% of US CEOs believe that skill directly affects a company’s financial performance. ^[0]
• 43% of companies mostly or always accomplish projects within the budget. ^[0]
• Meanwhile, 27% of projects go over budget. ^[0]
• 24% of project professionals believe that projects are hampered by unrealistic budgets. ^[0]
• 20% of project professionals believe that adopting agile techniques can lower project costs. ^[0]
• 47% of project managers believe that they are expected to deliver more value with a reduced budget and timeline. ^[0]
• Organizations with high maturity value delivery capability accomplish 67% of their projects within the allotted budget. ^[0]
• On the other hand, organizations with low maturity value delivery capability do the same for only 46% of their projects. ^[0]
• About 60% always or mostly engage in risk management. ^[0]
• 29% of projects are mostly or always completed on time. ^[0]
• To improve performance, 68% of organizations emphasize developing leadership while 65% focus on developing the technical skills of their personnel. ^[0]
• About 36% spend one or more days annually collating project reports. ^[0]
• 89% of organizations have one or more PMOs; 26% of these are less than two years old. ^[0]
• Interestingly, 54% of organizations do not have access to real. ^[0]
• The Scaled Agile Framework is the most popular scaling method with 35% of organizations applying it. ^[0]
• 59% of project managers run two to five projects, 15% work on one, 15% take on more than 10, and 11% do six to 10. ^[0]
• Business value delivered (46%), customer satisfaction (45%), and velocity (37%). ^[0]
• Agile transformations have a success rate of 41%. ^[0]
• 47% of project managers believe that their companies have built a track record of project success 58% of organizations say that project success rates have improved over the last two years. ^[0]
• Approximately 51% of organizations deliver projects that meet the business objective or original goal. ^[0]
• Meanwhile, 52% of organizations deliver projects that satisfy stakeholders. ^[0]
• In 2018, 35% of organizations in Australia completed more than 50 projects. ^[0]
• On average, organizations with high value delivery maturity complete 63% of their projects on time. ^[0]
• 58% of organizations admitted that the impact of COVID 19 has been moderate or significant, causing project delays and cancellations. ^[0]
• The number of project professionals who believe that poor resource management is a significant problem in project management increased by 60% in 2019. ^[0]
• A more recent report shows that 25% of organizations do not leverage technology suitable for team collaborations on informal projects despite this consuming 20% of their productive times at work. ^[0]
• The biggest challenges to adopting agile techniques to an organization are the resistance to change (48%), lack of leadership participation (46%), and inconsistent practices across teams (45%). ^[0]
• Organizations that have low maturity on project management technology lose the budget from failed projects 42% of the time. ^[0]
• 54% of the projects of companies with low project management technology maturity go over budget. ^[0]
• 47% of agile projects are late, have budget overruns, or result in unhappy customers. ^[0]
• Furthermore, 11% of agile projects fail outright and end up delivering nothing. ^[0]
• 56% of organizations have already developed a digital transformation strategy that incorporates AI. ^[0]
• Organizations believe that the main roles of AI would be as PM assistant (52%), PM advisor (42%), and PM substitute (3%). ^[0]
• 54% of organizations leverage agile practices but are still maturing in that regard. ^[0]
• When asked which factors are the most critical to achieving success in the future, 35% of executive leaders identified organizational agility as the top factor. ^[0]
• 32% of executive leaders believe that investing in the right technologies is the biggest factor in future success. ^[0]
• 31% of executive leaders believe that learning relevant skills is the biggest factor in future success. ^[0]
• As of 2020, 59% of organizations were using Microsoft Project Online compared to 57% in 2019. ^[0]
• 22% of organizations used the appropriate resource management solution in 2020. ^[0]
• 71% of project professionals believe that the perceived value of PMOs will increase, up from 55% in 2019. ^[0]
• The top tools used for agile project management include Atlassian Jira (67%), Microsoft Excel (40%), Microsoft Azure DevOps (23%), Google Docs (19%), VersionOne (12%), and Microsoft Project (9%). ^[0]
• 70% of companies prioritize the creation of a culture that focuses on delivering customer value. ^[0]
• Why do 47% of Agile Transformations Fail?. ^[0]
• 25% of organizations lack efficient technology for team collaboration. ^[1]
• 43% of organizations rarely or never experience cost overrun on budgets. ^[1]
• 35% of senior management put organizational agility on the top of the list of success factors. ^[1]
• 56% of companies have digital transformation strategies involving an AI element. ^[1]
• Analysts predict that it will reach $5.6 billion over the following five year period, growing at a 6.0% Compound Annual Growth Rate. ^[1]
• Also, 54% don’t have an accessible real time Key Performance Indicator. ^[1]
• What’s more, that takes up to 20% of their time working on projects. ^[1]
• In 2016, project management statistics showed that 45% of employees were not quite satisfied with the maturity level of project management within their organization. ^[1]
• 2020 brought a rise, with dissatisfaction reaching 52%. ^[1]
• Airtable and Smartsheet come in third and fourth, with 5.99% and 5.49%, respectively. ^[1]
• By 2025, it is forecast to have reached $14.4 billion, growing at a CAGR of 10.5%. ^[1]
• As an immediate consequence of the crisis, 6% of project management professionals have been left jobless, while 6% don’t have a job because of another reason. ^[1]
• Some of them (16%). ^[1]
• However, 20% seem to be unaffected by the crisis. ^[1]
• Poor project performance results in 11.4% of unsuccessful investments on average. ^[1]
• Organizations report 67% more failed projects when they don’t consider project management a serious strategic element. ^[1]
• A well known construction project that experienced an 80% cost overrun is the Chunnel. ^[1]
• Project management statistics show that 43% of organizations mostly or always achieve all project goals within the planned budget and 47% have a track record of project success. ^[1]
• Time management statistics reveal that the percentage of organizations that rarely or never deliver late is almost 30%. ^[1]
• 43% of project management professionals think that the COVID 19 crisis has negatively affected project costs, profitability, and cash flow at a moderate level. ^[1]
• Nevertheless, 27% note no negative effect of the coronavirus on project financials according to project management stats. ^[1]
• What’s more, 29% chose the extreme negative end of the scale when describing the effects of the pandemic on the speed of project delivery. ^[1]
• Project management may cost up to 20% of the overall budget. ^[1]
• Management statistics show 69% of project experts see their senior executives holding project management in high esteem, and a little below 46% of organizations recognize the importance of nurturing a work environment that appreciates project management. ^[1]
• In 2016, 71% of organizations had one or more PMOs. ^[1]
• That percentage consistently increased, reaching 89% in 2020. ^[1]
• Also, 50% of organizations report having more than one PMO, and data indicate that 26% of PMOs are less than two years old. ^[1]
• According to project management statistics, 47% of organizations have a determined professional path for project managers. ^[1]
• More than 60% of organizations invest in their project managers by providing training. ^[1]
• Technical and leadership skills are prioritized by 68% and 65% of organizations, respectively. ^[1]
• They are closely followed by business skills, with 58%, and digital skills, with 50%. ^[1]
• 56% of companies have a digital transformation strategy that includes Artificial Intelligence, whereas only 24% haven’t developed such a strategy yet, as evidenced by project management stats. ^[1]
• The leading advantage that 70% of organizations report for using agile project management methodology is the ability to manage changing priorities. ^[1]
• The next two are project visibility and business/IT alignment with 65% each. ^[1]
• The estimated expense of project management falls between 7% and 11% of the total project cost. ^[1]
• However, if you add project control support, the costs of project management increase by 9%. ^[1]
• In other words, project management costs account for 7% 15% of the overall project budget. ^[1]

I know you want to use Construction Project Management Software, thus we made this list of best Construction Project Management Software. We also wrote about how to learn Construction Project Management Software and how to install Construction Project Management Software. Recently we wrote how to uninstall Construction Project Management Software for newbie users. Don’t forgot to check latest Construction Project Management statistics of 2024.

Reference

1. financesonline – https://financesonline.com/35-essential-project-management-statistics-analysis-of-trends-data-and-market-share/.
2. 99firms – https://99firms.com/blog/project-management-statistics/.
3. autodesk – https://constructionblog.autodesk.com/construction-industry-statistics/.
4. teamstage – https://teamstage.io/project-management-statistics/.
5. thecircularboard – https://thecircularboard.com/project-management-statistics/.
6. capterra – https://blog.capterra.com/the-5-most-important-construction-statistics-for-construction-managers/.
7. saaslist – https://saaslist.com/blog/project-management-statistics/.
8. planyard – https://planyard.com/blog/9-staggering-project-management-statistics.
9. zippia – https://www.zippia.com/construction-manager-jobs/demographics/.
10. ibisworld – https://www.ibisworld.com/united-states/market-research-reports/construction-project-management-services-industry/.
11. ibisworld – https://www.ibisworld.com/industry-statistics/employment/construction-project-management-services-united-states/.
12. wrike – https://www.wrike.com/blog/how-to-effectively-run-construction-management-projects/.
13. projectmanagernews – https://projectmanagernews.com/news/top-news/project-management-stats-future-of-project-management/.
14. propelleraero – https://www.propelleraero.com/blog/10-construction-project-cost-overrun-statistics-you-need-to-hear/.
15. statista – https://www.statista.com/statistics/1225394/china-annual-revenue-of-sections-in-the-construction-project-supervision-industry/.
16. coursera – https://www.coursera.org/courses?query=construction%20project%20management.

How Useful is Construction Project Management

The usefulness of construction project management cannot be understated, as it brings order and structure to what could otherwise be chaotic and unorganized processes. From the initial planning stages through to project completion, project managers oversee every aspect of construction activity, ensuring that resources are allocated efficiently, schedules are adhered to, and risks are carefully managed.

One of the principal benefits of project management in construction is the establishment of clear communication channels between stakeholders. Project managers act as a central point of contact for everyone involved in the project, from clients to contractors and suppliers, facilitating collaboration and ensuring that everyone is working towards a common goal. With effective communication, issues can be identified and resolved quickly, minimizing disruptions and delays.

Furthermore, project management brings a level of predictability and control to construction projects. Through the creation of detailed project plans, schedules, and budgets, project managers are able to forecast potential challenges and develop strategies to mitigate risks. By monitoring progress against these plans and making adjustments as necessary, project managers can keep projects on track and prevent potential cost overruns or delays.

Another significant benefit of construction project management is the optimization of resources. Project managers are responsible for allocating labor, materials, and equipment effectively to ensure that work is completed in a timely and cost-effective manner. By carefully coordinating these resources and making adjustments as needed, project managers can maximize productivity and reduce waste, ultimately leading to cost savings.

In addition to resource optimization, project management also focuses on quality control. Project managers oversee construction activities to ensure that work meets defined quality standards and specifications. Through regular inspections and quality assurance processes, project managers can identify deficiencies early on and address them before they impact the overall project.

Overall, construction project management is a valuable tool for ensuring that construction projects are completed successfully. By providing structure, communication, predictability, resource optimization, and quality assurance, project managers play a critical role in delivering projects that meet client expectations and requirements. As such, the importance of project management in construction cannot be overstated, and its usefulness should not be overlooked in any building endeavor.

In Conclusion

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