Project and Portfolio Management Statistics 2024 – Everything You Need to Know

• The top five causes of project failure are Change in the organization’s priorities (39%). ^[0]
• For such large IT projects, functionality issues and schedule overruns are the top two causes of failure (at 22% and 28% respectively). ^[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]
• Around 67% of projects of organizations that undervalue project management as an essential element for driving change result in failure. ^[2]
• Also, IT projects with budgets exceeding $1 million have a 50% higher failure rate than projects with budgets below $350,000. ^[2]
• 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%. ^[2]
• In fact, McKinsey suggests that 80 percent of traditional business models are at risk of failure over the next few years. ^[6]

Project and Portfolio Management Adoption Statistics

• Despite its impact, adoption rates for PM software remains low . ^[0]
• However, Asia Pacific is expected to witness the fastest CAGR of 12.6% from 2020 to 2027, owing to dynamic increase in the adoption of the internet by enterprises and rapid technological advancements. ^[4]
• 28% of organizations believe that the adoption of agile methods has improved their project success rates. ^[2]

Project and Portfolio Management Latest Statistics

• what As surprising as it may sound given the abundance of resources and available information, around 45% of organizations. ^[7]
• This data is twice as surprising if we consider the fact that 89% of high performing organizations use project portfolio management in their dayto. ^[7]
• As it turns out, around 31% of companies still rely on paperwork to streamline their projects and manage their processes, investment and risks. ^[7]
• What are the chances of success in this matter if 95% of companies in the digital world have already migrated to some kind of cloud technology?. ^[7]
• At the same time, according to Project Management Institute’s statistical analysis, more than 70% of companies also have a PPM practice implemented at the company. ^[7]
• These companies complete up to 40 percent more of their programs successfully. ^[7]
• Statistics show that 30% of projects fail solely because of an undefined risk. ^[7]
• There’s an overall 13 15% increase in overall project success, which includes meeting the business goals, as well as staying on time and on budget. ^[7]
• Only 58% of organizations fully understand the value of project management. ^[0]
• 93% of organizations report using standardized project management practices. ^[0]
• 68% more than 2/3rd of organizations in ‘s annual survey said that they used outsourced or contract project managers in 2018. ^[0]
• Only 23% of organizations use standardized project management practices across the entire organization. ^[0]
• 33% use standardized practices, but not across all departments. ^[0]
• While a small portion 7% of organizations don’t use any standard practices at all. ^[0]
• Coincidentally, 55% of organizations don’t have access to real. ^[0]
• Between 2017 and 2018, the percentage of organizations using spreadsheets to manage their agile projects dropped from 74% to 67%. ^[0]
• 56% of organizations have used only one project management system. ^[0]
• Only 41% of organizations with an enterprise wide project management office report that it is highly aligned to the organization’s strategy. ^[0]
• 80% of highperformance organizations Champions have a PMO. ^[0]
• 72% say that there is a strong alignment of the EPMO to their organizational strategy. ^[0]
• 95% of large firms reported having dedicated PMOs, either in specific departments or across the entire organization. ^[0]
• In contrast, only 75% of small firms had dedicated PMOs. ^[0]
• In 2016, PMOs delivered a 33% improvement in projects delivered under budget, 27% improvement in customer satisfaction, 25% increase in productivity, and 25% reduction in failed projects. ^[0]
• In 2016, the average PMO accounted for nearly 5% of the project budget and had a staff size of 9. ^[0]
• 49% of project managers report to the PMO (up from 42% in 2012). ^[0]
• Incidentally, highperformance organizations had far higher percentage of project managers reporting to the PMO than lowperforming organizations 68% vs 53%. ^[0]
• 50% of respondents in a survey said that their biggest challenge is that PMO processes are seen as overhead. ^[0]
• 42% said that their organizations are resistant to change and adopting new PM methodologies. ^[0]
• 41% said that their biggest challenge is demonstrating the added value of the PMO. ^[0]
• Risk management practices are widely used across most organizations 27% say they ‘always’ use them, while 35% use the ‘sometimes’. ^[0]
• Only 3% of surveyed organizations say they ‘never’ use risk management practices. ^[0]
• Among senior leaders, 87% say that they “fully” understand the importance of PM practices. ^[0]
• Only 32% of organizations say that they’re satisfied with their current PM maturity level. ^[0]
• 67% would rank their department’s PM maturity level at 3 or more. ^[0]
• However, only 47% would rank their organization wide PM maturity at level 3 or higher. ^[0]
• In PMI’s 2017 survey, 62% of successfully completed projects had sponsors who were actively supportive. ^[0]
• 78% of respondents in a Geneca survey also said that they’d like business stakeholders to be more responsive and engaged in the project. ^[0]
• Another study found that 33% of projects fail because of a lack of involvement from senior management. ^[0]
• A whopping 97% of organizations believe that project management is critical to business performance and organizational success, according to a PwC study. ^[0]
• Businesses say that the biggest impact of project management was on team communication (52%). ^[0]
• 44% also said that it improved the quality of the final product, while 38% said that it improved customer satisfaction. ^[0]
• Only 42% of respondents in Wellingtone’s survey that this role is occupied by a professional Project Manager in their organization. ^[0]
• In 2018, nearly 70% of projects met their original goals or business intent, while nearly 60% were completed within the original budget. ^[0]
• Both these figures are up from 62% and 50% respectively in 2016. ^[0]
• Compared to 2017, 71% of organizations reported a lack of funding as their top project management challenge, while 49% more organizations reported an inconsistency in approach. ^[0]
• A survey published in HBR found that the average IT project overran its budget by 27%. ^[0]
• Moreover, at least one in six IT projects turns into a “black swan” with a cost overrun of 200% and a schedule overrun of 70%. ^[0]
• An IT project with a budget over $1M is 50% more likely to fail than one with a budget below $350,000. ^[0]
• A PwC study of over 10,640 projects found that a tiny, tiny portion of companies 2.5% completed 100% of their projects successfully. ^[0]
• According to CIO, organizations that use proven PM practices waste 28x less money than their more haphazard counterparts. ^[0]
• 80% of respondents in a Geneca survey said that they spend half their time on rework. ^[0]
• Only 55% of people involved in projects team leaders and project managers feel that the project’s business objectives are clear to them. ^[0]
• More than 80% also feel that the requirements process doesn’t articulate the needs of the business. ^[0]
• And when the project is wrapped up, only 23% of respondents say that project managers and stakeholders are in agreement when a project is done. ^[0]
• To give you an idea of the abysmal success rate of most projects, only 40% of projects at IBM meet the company’s three key goals schedule, budget, and quality. ^[0]
• 17% of IT projects can go so bad that they can threaten the very existence of the company. ^[0]
• The biggest reason for any dissatisfaction remains price (56%), followed by a lack of features (33%). ^[0]
• 64% and 67% of projects with high maturity of PM processes are delivered on time and within budget, respectively. ^[0]
• The equivalent figures for low maturity organizations are just 36% and 43%. ^[0]
• 83% of high performance organizations make an ongoing investment in project manager training. ^[0]
• 77% of such organizations have formal processes to develop PM competency. ^[0]
• In contrast, only 34% of underperformers offer similar training. ^[0]
• 51% of respondents in PMI’s 2018 survey said that soft skills are more important today, while only 19% said that this skill requirement is unchanged. ^[0]
• 81% of these organizations prioritize the development of technical skills (vs 13% of underperformers). ^[0]
• Despite low maturity levels, only 48% organizations have invested in accredited project management training. ^[0]
• 15% use non accredited training or courses, while more than 25% don’t invest in any training at all. ^[0]
• 60% of PMOs now have a formal project management training program, up from 11% in 2014. ^[0]
• Incidentally, high performing organizations are far more likely to have a training program than low performers (85% vs 38%). ^[0]
• Most PMOs (79%). ^[0]
• However, a significant and growing number (51%). ^[0]
• According to the report, the global project portfolio management industry generated $4.33 billion in 2019 and is expected to generate $9.16 billion by 2027, witnessing a CAGR of 9.9% from 2020 to 2027. ^[4]
• However, the services segment is estimated to grow at the highest CAGR of 11.6% from 2020 to 2027, owing to the increase in demand for training of employees and maintenance services for organizations. ^[4]
• However, the healthcare segment is projected to portray the largest CAGR of 16.4% from 2020 to 2027. ^[4]
• 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]
• Our extensive surveys have turned up knowledge that’s as close to 100% reliable as you can get in the project management world. ^[8]
• Only35%of project managers surveyed in 2020 were “somewhat or very satisfied” with the systems in place. ^[8]
• Despite the importance of PPM, only61%apply a defined project management methodology to each project. ^[8]
• Project management maturity isn’t valued.46%of organizations make project management a cultural priority — despitestatistical proofthat a mature project management process makes an organization far more likely to deliver on time and under budget. ^[8]
• As a result,54%of organizations lack the ability to track KPIs in real. ^[8]
• Across all organizations,11.4%of all resources are wasted due to inferior project management processes. ^[8]
• But there are positive signs.89%of organizations. ^[8]
• now have at least one project management office , and50%have more than one. ^[8]
• In addition,71%of PMs surveyed believe the perceived value of their role is increasing, up from55% in 2019. ^[8]
• These offices are busy.59%of project managers run between 2 and 5 projects. ^[8]
• 11% run 6 to 10 projects, and 15% run more than 10 at a time. ^[8]
• Only 15% of project managers work on only one project at a time. ^[8]
• A monday.com survey found thatRepetitive tasks are eating our productivity alive.54%of workers spend 5 or more hours per week on tedious tasks that require little or no creativity. ^[8]
• For 16%, it’s 10 or more hours. ^[8]
• Our co workers also bear some of the blame.41%of workers reported that message notifications from email, Slack, and other platforms were a major obstacle to getting work done.20%described email overload as a serious problem. ^[8]
• 57% of workers reported that they’ve begun to feel the symptoms of burnout. ^[8]
• 30% report feeling less creative than they used to be, and a whopping 63% don’t think they’re getting enough chances to do their best work. ^[8]
• 63% agree or strongly agree that AI will make a bigger difference to business than the advent of the internet. ^[8]
• As we saw above, 54% of workers believe they could save at least 5 hours by automating their most menial tasks. ^[8]
• In spite of this, however, 58% of CEOs have not implemented any kind of AI in their business, likely due to the difficulty of finding employees qualified to put it in place. ^[8]
• Companies are committing to training project managers.61%of organizations provide some form of project management training, while 47% have gone the extra mile and established a clear path for developing PM careers. ^[8]
• will makeCertification remains extremely important.22%more money than a PM who hasn’t been certified. ^[8]
• Research suggests that the most popular Agile innovation among businesses today is the daily standup, used byCompanies loveAgile project management, but they adopt it piecemeal.85% of respondents. ^[8]
• Runners up include retrospectives (81%),sprint planning(79%), sprint review (77%), and short iteration cycles (64%). ^[8]
• Across a range of organizations that are seen as innovators in PM technology and practices, 53% employ at least one Agile methodology technique. ^[8]
• The trend is to keep teams small.30.5%of project teams have 5 or fewer members. ^[8]
• Another 39% have between 6 and 10 members, leaving only 30.5% with more than 10 employees. ^[8]
• Surprisingly, the first step is empathy.91% of CEOs— as clear a consensus as we found anywhere — believe that the ability to empathize with colleagues, subordinates, and customers directly influences a company’s financial performance. ^[8]
• Only43%of companies reported that they “most of the time” or “always” complete their projects within the established budget. ^[8]
• Projects where the company spends $1 million or more fail 50% more often than projects where $350,000 or less is spent. ^[8]
• If teams and leaders take an average of 1 hour to make any decision, projects succeed at a rate of 58%. ^[8]
• When that time increases to 5 hours, the project success rate drops to 18%. ^[8]
• a role.58%of organizations said that the coronavirus pandemic had a “moderate or significant” impact on their operations, forcing them to delay or cancel projects. ^[8]
• Remember how we said earlier that only about 23% of businesses were using a dedicated project management solution?. ^[8]
• 91% of our users said they listed their project tasks on a board. ^[8]
• 88% said that their job frequently involved re prioritizing and updating their tasks, while 70% spent a lot of time keeping track of deadlines and milestones. ^[8]
• And 42% were trying to do all of this in a spreadsheet. ^[8]
• Only 46% of organizations place a high priority on a culture that values project management. ^[2]
• 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. ^[2]
• Only 6% of organizations in Australia received more projects and worked on more programs during the COVID. ^[2]
• In addition, 48% of organizations in Australia always or often report project benefit tracking variations. ^[2]
• 61% of projects have highly involved sponsors. ^[2]
• 40% of the project and program governance activities of organizations are considered very effective. ^[2]
• 35% of project managers use MS Excel to build resource plans. ^[2]
• The percentage of organizations using spreadsheets to manage projects dropped from 66% in 2018 to 64% in 2019. ^[2]
• On average, 11.4% of investment is wasted due to poor project performance. ^[2]
• 61% of organizations provide project management training while 47% have a clear career path for project professionals. ^[2]
• An estimated 1,279,390 project management specialists and business operations specialists are employed in the United States. ^[2]
• Project management Professional certificate holders earn salaries that are 22% than those without certification. ^[2]
• Approximately, there were 6% more organizations with a project management office in 2020 (89%) than in 2019 (83%). ^[2]
• 74% of project professionals believe that more employees will work from home. ^[2]
• 54% do not have access to real time project KPIs. ^[2]
• 60% of project managers report that they always apply a defined project methodology. ^[2]
• 39% of project teams are composed of 610 people; 30.5% have more than 10 people; another 30.5% are composed of 1. ^[2]
• Also, 50% of organizations mostly or always baseline their project schedules. ^[2]
• 67% of organizations include project change management in their initiatives. ^[2]
• 72% of PMOs are projected to increase in scope and responsibilities, up from 61% in 2019. ^[2]
• 53% of organizations that are considered. ^[2]
• Project professionals manage 23% of the company’s initiatives by incorporating AI. ^[2]
• The top agile methods employed by organizations are daily standup (85%), retrospectives (81%), sprint planning (79%), sprint review (77%), and short iterations (64%). ^[2]
• 69% of project professionals state that their senior leaders value project management. ^[2]
• 67% of project managers believe that the complexity of programs and projects has increased over the past decade. ^[2]
• Additionally, 84% of CEOs have accelerated the development of a next generation operating model and the digitization of operations. ^[2]
• Surprisingly, 23% of projects do not undertake change management initiatives. ^[2]
• However, of the projects that do, 32% deem them extremely effective. ^[2]
• 59% of organizations conduct independent project performance reviews. ^[2]
• 63% of organizations work on projects that incorporate change management capability. ^[2]
• Meanwhile, in Australia, 57% of organizations use a centralized PMO to streamline project activities. ^[2]
• 51% of organizations require project professionals to have certification for their role. ^[2]
• Organizations that are highly mature in project management capabilities outperformed those that aren’t, as they met their goals 77% of the time. ^[2]
• 91% of US CEOs believe that skill directly affects a company’s financial performance. ^[2]
• 43% of companies mostly or always accomplish projects within the budget. ^[2]
• Meanwhile, 27% of projects go over budget. ^[2]
• 24% of project professionals believe that projects are hampered by unrealistic budgets. ^[2]
• 20% of project professionals believe that adopting agile techniques can lower project costs. ^[2]
• 47% of project managers believe that they are expected to deliver more value with a reduced budget and timeline. ^[2]
• Organizations with high maturity value delivery capability accomplish 67% of their projects within the allotted budget. ^[2]
• On the other hand, organizations with low maturity value delivery capability do the same for only 46% of their projects. ^[2]
• About 60% always or mostly engage in risk management. ^[2]
• 29% of projects are mostly or always completed on time. ^[2]
• To improve performance, 68% of organizations emphasize developing leadership while 65% focus on developing the technical skills of their personnel. ^[2]
• About 36% spend one or more days annually collating project reports. ^[2]
• 89% of organizations have one or more PMOs; 26% of these are less than two years old. ^[2]
• Interestingly, 54% of organizations do not have access to real. ^[2]
• The Scaled Agile Framework is the most popular scaling method with 35% of organizations applying it. ^[2]
• 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. ^[2]
• Business value delivered (46%), customer satisfaction (45%), and velocity (37%). ^[2]
• Agile transformations have a success rate of 41%. ^[2]
• 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. ^[2]
• Approximately 51% of organizations deliver projects that meet the business objective or original goal. ^[2]
• Meanwhile, 52% of organizations deliver projects that satisfy stakeholders. ^[2]
• In 2018, 35% of organizations in Australia completed more than 50 projects. ^[2]
• On average, organizations with high value delivery maturity complete 63% of their projects on time. ^[2]
• 58% of organizations admitted that the impact of COVID 19 has been moderate or significant, causing project delays and cancellations. ^[2]
• The number of project professionals who believe that poor resource management is a significant problem in project management increased by 60% in 2019. ^[2]
• 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. ^[2]
• 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%). ^[2]
• Organizations that have low maturity on project management technology lose the budget from failed projects 42% of the time. ^[2]
• 54% of the projects of companies with low project management technology maturity go over budget. ^[2]
• 47% of agile projects are late, have budget overruns, or result in unhappy customers. ^[2]
• Furthermore, 11% of agile projects fail outright and end up delivering nothing. ^[2]
• 56% of organizations have already developed a digital transformation strategy that incorporates AI. ^[2]
• Organizations believe that the main roles of AI would be as PM assistant (52%), PM advisor (42%), and PM substitute (3%). ^[2]
• 54% of organizations leverage agile practices but are still maturing in that regard. ^[2]
• 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. ^[2]
• 32% of executive leaders believe that investing in the right technologies is the biggest factor in future success. ^[2]
• 31% of executive leaders believe that learning relevant skills is the biggest factor in future success. ^[2]
• As of 2020, 59% of organizations were using Microsoft Project Online compared to 57% in 2019. ^[2]
• 22% of organizations used the appropriate resource management solution in 2020. ^[2]
• 71% of project professionals believe that the perceived value of PMOs will increase, up from 55% in 2019. ^[2]
• 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%). ^[2]
• 70% of companies prioritize the creation of a culture that focuses on delivering customer value. ^[2]
• Why do 47% of Agile Transformations Fail?. ^[2]
• Available to download in PNG, PDF, XLS format 33% off until Jun 30th. ^[9]
• Employment of financial managers is projected to grow 17 percent from 2020 to 2030, much faster than the average for all occupations. ^[10]
• Available to download in PNG, PDF, XLS format 33% off until Jun 30th. ^[11]
• For starters, 45% of businesses admit they don’t fully understand those projects or how to manage them effectively. ^[6]
• In fact, 89 percent of high performing organizations have already adopted PPM strategies, and those that leverage PPM see higher success rates at a 2.5x lower overall cost. ^[6]
• In 2017, Gartner predicted that enterprises that dedicate resources to ensuring strategy is executed across projects will be 80 percent more likely to be industry leaders. ^[6]
• Here’s the problem 80% of digital projects fail. ^[6]
• According to Gartner, 50 percent of PPM leaders will integrate SPM technologies to help them define their projects and project goals. ^[6]
• 80% of “high performing” projects are led by a certified project manager. ^[3]
• [8] 89% of high performing organizations value project management, 81% actively engage sponsors, 57% align projects with business strategy. ^[3]
• [6] 46% of organizations admit to not fully understanding the value of project management, even though that understanding boosts the success rate of strategic initiatives by 16%. ^[3]
• [12] 59% say either most departments or their entire organization uses standard project management practices. ^[3]
• [6] Organizations that use a methodology 38% meet budget. ^[3]
• 26% do not use a standard methodology. ^[3]
• 8% use a combination of methods 4% use an in house method to manage projects 3% use PRINCE2. ^[3]
• [4] Having a knowledge transfer process in place boosts the chance of project success by over 20%. ^[3]
• [6] More than 90% of organizations perform some type of project postmortem or closeout retrospective. ^[3]
• [9] 64% of organizations say they frequently conduct risk management. ^[3]
• [6] 30% of project managers break up large projects into smaller segments, with deliverables and evaluations at the end of each segment. ^[3]
• 48% say the team’s technical skills 41% say executive support 26% say effective team communication. ^[3]
• 19% say Agile techniques 17% say the leadership of certified Project Managers 12% say effective soft skills among staff. ^[3]
• [5] 38% of organizations report using agile frequently. ^[3]
• [6] 75% of highly agile organizations met their goals/business intent, 65% finished on time, and 67% finished within budget. ^[3]
• Compared to organizations with low agility, where only 56% met their business goals, 40% finished on time, and 45% finished within budget. ^[3]
• [12] Agile organizations grow revenue 37% faster and generate 30% higher profits than non. ^[3]
• According to respondents, five days per year of projectfocused training reduced the amount of time it took to advance from an entry level project manager to a senior project manager by 12.6 months. ^[3]
• In the U.S, Project Management Professional ® certified project managers make an average of 16% more than their non credentialed peers in 2011. ^[3]
• [6] 61% of project management practitioners say their organization currently offers ongoing project management training for staff. ^[3]
• [6] PM Certification by Department37% say their entire IT department is. ^[3]
• Classroom setting –28%Online selfpaced course –24%Online situational sessions –18%Paperbased self studies –16%All of the above –13%Other. ^[3]
• –1%[4] Number of PMI Certified Project Managers. ^[3]
• [10] Popular Tools for Managing IT Projects70% use status reports68% use the project plan documentation63% use spreadsheets53. ^[3]
• level31% use communication templates25% use quality assessments21% use realtime status dashboards20% use a homegrown/in house solution18% use word processing documents10% useearned value management. ^[3]
• [11] An expected 12% growth in demand for project management professionals will result in almost 6.2 million jobs by 2020. ^[3]
• [11] The healthcare industry is projected to increase project management roles by 30% — a higher growth rate than any current project intensive industry. ^[3]
• [11] Estimated ProjectOriented Job Openings 2010. ^[3]
• [11] 83% of project organizations reported that they were understaffed at some level. ^[3]
• 44% of the reported shortages were for senior. ^[3]
• 89.4% report that it is either very difficult or somewhat difficult to find senior. ^[3]
• [7] The average large IT project runs 45% over budget, 7% over time, and delivers 56% less value than expected. ^[3]
• [6] One in six IT projects has an average cost overrun of 200% and a schedule overrun of 70%. ^[3]
• [1] Nearly 45% admit they’re unclear on the business objectives of their IT projects. ^[3]
• [3] Only 34% of respondents say IT projects almost always deliver value to the business. ^[3]
• 21% say they sometimes deliver value, and 41% say results are mixed. ^[3]
• [5] 78% said their project requirements are usually or always out of sync with the business. ^[3]
• [3] 75% of IT project leaders believe their projects are “doomed from the start.”. ^[3]
• [3] 17% of large IT projects go so badly they threaten the existence of the company.[2]. ^[3]
• Only 47% say their teams achieve 70 89% of their goals. ^[3]
• Nearly 20% say they only achieve 50 69% of their goals. ^[3]
• [3] 80% of teams say they spend at least half their time reworking completed tasks. ^[3]
• [3] Barriers to Success38% cite confusion around team roles and responsibilities.31% point to being unclear or disagreeing on what constitutes project success.77%. ^[3]
• Portfolio Project Management 53% of respondents say they have a project portfolio management process in place. ^[3]
• The number of firms with a PPM process in place grew from 64% in 2003 to 71% in 2013. ^[3]
• 26% of firms say they get a 25% or greater ROI from implementing PPM processes. ^[3]
• How Companies Prioritize Projects18% say strategic alignment14% say expected. ^[3]
• Portfolio tracking & performance monitoring – 75%Portfolio oversight –68%Portfolio planning,resource allocation, and schedule –. ^[3]
• 66%Portfolio analysis, project selection, & prioritization –65%PPM process implementation & management –61%[13]. ^[3]
• Top 5 PPM PrioritiesImproveresource planning & forecasting – 65%Implement. ^[3]
• /enhance reporting, analytics, & dashboard tools –62%Implement/enhance PPM processes –53%Implementdemand management/capacity planning processes – 42%Implement/enhance performance measurement process –. ^[3]
• [4] 55% of organizations surveyed review project portfolios monthly, 23% review them quarterly. ^[3]
• [13] PMO Popularity by Company Size61% of small organizations (88% of midsize companies ($100M $1B). ^[3]
• Number of companies with a PMO has grown from 47% to 80% from 2000. ^[3]
• 30% of companies currently without a PMO plan to start one in the coming year. ^[3]
• [16] Benefits of High Performing PMOs [16] 49% of PMOs provide project management training. ^[3]
• IT managers or business execs – Non management IT staff – Project managers within IT department – Project managers outside IT department – Outsourced project managers – [13] Only 64% of projects meet their goals. ^[3]
• [6] 70% of companies report having at least one failed project in the last year. ^[3]
• [12] High performing organizations successfully complete 89% of projects, while low performers only complete 36% successfully. ^[3]
• [15] 60% of companies don’t measure ROI on projects. ^[3]
• [15] Average Project Success Rates [9] Average % of features delivered – 69%Average cost overrun – Average time overrun – [9] Small Projects VS. ^[3]
• Small Projects 76% are successful. ^[3]
• Large Projects 10% are successful 52% are challenged. ^[3]
• [9] Large projects are twice as likely to be late, over budget, and missing critical features than small projects. ^[3]
• A large project is more than 10 times more likely to fail outright, meaning it will be cancelled or will not be used because it outlived its usefulness prior to implementation. ^[3]
• [12] 68% of projects don’t have an effective project sponsor to provide clear direction or help address problems. ^[3]
• 64% successfully met original goals/business objectives 62% were supported by active project sponsors 55% finished within budget. ^[3]
• Only 56% of strategic initiatives meet their original goals and business intent. ^[3]
• [12] 44% of strategic initiatives were reported as unsuccessful. ^[3]
• Over 25% of companies don’t conduct a strategic review to identify how a proposed project will benefit the business. ^[3]
• [15] 60% of companies don’t consistently align projects with business strategy. ^[3]
• According to the Bureau of Labor Statistics , financial managers earned a median annual salary of $129,890 in 2019, and these jobs are expected to grow much faster than average.‎. ^[12]
• Organizations that employ PM techniques are 28% more likely to meet their target business objectives. ^[5]
• Unfortunately, current solutions don’t meet these requirements for 73% of businesses. ^[5]
• A culture that puts project management at the top is crucial only to 46% of surveyed organizations. ^[5]
• Only 46% of organizations surveyed state that having a culture that puts the PM at the top is crucial. ^[5]
• According to recent surveys, as much as 67% of all companies that say that project management is not needed end up failing. ^[5]
• 52% – survey respondents that are somewhat unhappy with their current project management arrangements in their company. ^[5]
• According to the latest survey results, 52% of survey respondents are somewhat unhappy with the current project management arrangements in their company. ^[5]
• 80% of those surveyed state that having a project management portfolio is key to influencing the people that matter. ^[5]
• According to the results of a recent survey, as much as 35% of project managers still use Microsoft Excel to plan the resources they might need for their tasks. ^[5]
• PMI has recently conducted a survey and found out that 61% of organizations that employ project managers provide a career roadmap for their PMs, with 47% of them offering a clear way to move forward in the said roadmap. ^[5]
• According to PMI, professionals with project management certifications earn 22% more than those that don’t have any qualifications. ^[5]
• An increase of 6% in the number of project managers employed over a year is quite an interesting figure. ^[5]

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

Reference

1. workamajig – https://www.workamajig.com/blog/project-management-statistics.
2. 99firms – https://99firms.com/blog/project-management-statistics/.
3. financesonline – https://financesonline.com/35-essential-project-management-statistics-analysis-of-trends-data-and-market-share/.
4. wrike – https://www.wrike.com/blog/complete-collection-project-management-statistics-2015/.
5. einnews – https://www.einnews.com/pr_news/548524672/project-portfolio-management-ppm-market-statistics-2021-ready-to-experience-exponential-growth-by-2030.
6. adamenfroy – https://www.adamenfroy.com/project-management-statistics.
7. shibumi – https://shibumi.com/blog/project-portfolio-management-ppm-and-the-emergence-of-strategic-portfolio-management/.
8. easyprojects – https://explore.easyprojects.net/blog/project-portfolio-management-as-a-game-changer-why-businesses-need-ppm-in-2017-to-drive-value.
9. monday – https://monday.com/blog/project-management/project-management-statistics/.
10. statista – https://www.statista.com/statistics/268000/global-revenue-with-project-management-software-by-provider/.
11. bls – https://www.bls.gov/ooh/management/financial-managers.htm.
12. statista – https://www.statista.com/statistics/796155/worldwide-project-portfolio-management-software-market/.
13. coursera – https://www.coursera.org/courses?query=portfolio%20management.

How Useful is Project and Portfolio Management

One of the key benefits of project and portfolio management is the ability to align projects with strategic goals and objectives. By carefully selecting and prioritizing projects based on their potential impact and alignment with organizational strategy, businesses can ensure that resources are allocated efficiently and effectively, leading to improved business outcomes. This strategic alignment not only helps organizations focus on high-value initiatives but also provides clarity and direction to project teams, ensuring that everyone is working towards a common goal.

Project and portfolio management also play a crucial role in risk management and decision-making. By using standardized processes and tools to assess and mitigate risks, organizations can proactively identify potential pitfalls and take corrective actions before they impact project delivery. Additionally, project managers can use portfolio management techniques to evaluate the potential risks and rewards of different project options, helping them make informed decisions about resource allocation and project prioritization.

Furthermore, project and portfolio management foster better communication and collaboration within organizations. By providing stakeholders with visibility into project progress, performance, and dependencies, project managers can build a culture of transparency and accountability, ensuring that everyone is on the same page and working towards common objectives. This enhanced communication enables faster decision-making, quicker problem resolution, and improved stakeholder engagement, ultimately leading to successful project delivery.

In today’s fast-paced and competitive business environment, agility and adaptability are essential for success. Project and portfolio management help organizations become more agile by enabling them to respond quickly to changing market conditions, customer needs, and internal priorities. By regularly reviewing and reprioritizing projects based on their strategic value and alignment with organizational goals, businesses can adjust their project portfolio to reflect changing business realities, seize new opportunities, and address emerging threats.

Lastly, project and portfolio management allow organizations to track and measure the performance of their projects and investments. By setting clear project objectives and key performance indicators (KPIs) and regularly monitoring progress against these targets, businesses can evaluate the impact of their projects on key business metrics, identify performance gaps, and take corrective actions to course-correct as needed. This data-driven approach not only helps organizations make better-informed decisions but also provides valuable insights for future project planning and execution.

Overall, project and portfolio management are highly useful tools for organizations looking to improve their project delivery, strategic alignment, risk management, communication, agility, and performance tracking. While implementing and maintaining these practices may require an initial investment in resources and training, the long-term benefits far outweigh the costs, with improved project success rates, enhanced business outcomes, and increased organizational efficiency being just some of the many advantages of effective project and portfolio management.

In Conclusion

Be it Project and Portfolio Management benefits statistics, Project and Portfolio Management usage statistics, Project and Portfolio Management productivity statistics, Project and Portfolio Management adoption statistics, Project and Portfolio Management roi statistics, Project and Portfolio Management market statistics, statistics on use of Project and Portfolio Management, Project and Portfolio Management analytics statistics, statistics of companies that use Project and Portfolio Management, statistics small businesses using Project and Portfolio Management, top Project and Portfolio Management systems usa statistics, Project and Portfolio Management software market statistics, statistics dissatisfied with Project and Portfolio Management, statistics of businesses using Project and Portfolio Management, Project and Portfolio Management key statistics, Project and Portfolio Management systems statistics, nonprofit Project and Portfolio Management statistics, Project and Portfolio Management failure statistics, top Project and Portfolio Management statistics, best Project and Portfolio Management statistics, Project and Portfolio Management statistics small business, Project and Portfolio Management statistics 2024, Project and Portfolio Management statistics 2021, Project and Portfolio Management statistics 2024 you will find all from this page. 🙂

We tried our best to provide all the Project and Portfolio Management statistics on this page. Please comment below and share your opinion if we missed any Project and Portfolio Management statistics.