We are always researching what makes projects more successful and we thought it would be interesting to share some statistics with you from a great PMI white paper called “Pulse of the Professional, Driving Success in Challenging times”. They state that 64% of projects successfully met their original goals and business intent. Which means that over one third do not. What differentiates those organizations with higher success rates from those with lower success rates? Of course we all want to know that. According to the PMO and portfolio management leaders surveyed, the most critical project success factors include:
- Talent: Staffing the team with appropriately skilled people
- Project Management Basics: Taking the time to create a realistic implementation plan
- Executive Sponsorship: Ensuring top-level management support for the project
- Focus on Benefits: Clearly defining the expected benefits from the project
- Change Management: Effectively managing change associated with the project
The behaviors that increased your chance of Project Management success are:
- 72% Use Risk Management
- 71% Use Portfolio Management
- 71% Use Standardized Project Management Practices
- 71% Use Change Management
- 68% Use Agile Project Management
- 65% Have a PMO
For more information on how incorporating these success factors can improve your organization please contact us.
