Project Management – InSourceNet

Assessing the Value of Project Management

Only 58% of organizations fully understand the value of project management. The importance of fully valuing project management cannot be emphasized enough; organizations that undervalue project management as a strategic competency for driving change report an average of 50% more of their projects failing outright. (PMI 2018)

Project Challenges

55 percent of project managers cited budget overrun as a reason for project failure. (IT-Cortex)
IT failure rates are estimated to be between 5–15 percent, accounting for a loss of $50–$150 billion per year in the United States alone. (Harvard Business Review)

Project Planning & Goals

Most organizations have a 70 percent project failure rate. (4PM)
Only 28 percent of companies use project performance techniques. (PMI, 2017)
Only 2.5 percent of companies complete 100 percent of their projects successfully. (Gallup)
Only 64 percent of projects meet their goals. (Wrike)

Project Success Statistics

68 percent of projects don’t have an effective project sponsor to provide direction or address problems. (Wrike)
80 percent of high-performing projects are led by a certified project manager. (Wrike)
77 percent of high-performing projects use project management software. (Hive)
87 percent of high-performing companies use project management software. (Wrike)