The 2017 PMI Pulse of the Profession® Report

In this episode, Ricardo comments on the Pulse of Profession® 2017, an annual report published by the Project Management Institute (PMI). About 4,000 professionals worldwide were interviewed and one of the key indicators reported is that financial waste on unsuccessful projects has dropped by around 20%; Until last yet, it was about USD 122 million lost for every billion invested. This year, the value dropped to 97 million. Check out other highlights listening to the podcast.

Download the report: http://www.pmi.org/learning/thought-leadership/pulse/pulse-of-the-profession-2017

Download (5 MB)

Episode transcript

The transcript is generated automatically by Podscribe, Sonix, Otter and other electronic transcription services.

Hello, everyone. Welcome to the five minutes PMI podcast today. I like to talk about the 2017 PMI Pulse of the Profession on February eight in Australia. This report was released it. And of course, one of the first things I did was to take a look on it. And when you see the cover, talking about success rate is rising. Oh, This look at So sweet and nice for me because the report shows that four, the first time in five years', there is a clear evidence of performance improvements due to a proper project management.

So we are seeing that organizations are failing less in our improving their results. So this is an extremely positive in a word that is facing challenging news, absolutely every day. So let me give you some numbers just to explore it. 97 million out of each a billion dollar spend in projects is wasted. The last year does the number was 122. So we're talking about 20% improvement from 12 point to me, percent of waste in 2016 to 9.7%.

And of course you can convert this, do your own currency. This research was not made with any specific group or a specific geographic location. This report was made with about 40,000 people from all levels in the organization and worldwide. So we're not speaking about, or this is the perception in the U S centric or European centric. Now we are talking about global projects and you look, 20 times less money is a spend to me implement a strategy.

Well, and it's very important that to understand that we're not talking about delivered on time, on cost, in a defined scope, please This was the agreement around product management in the nineties today, we are talking okay, time costs, scope, but we want a business benefit, which kind of business benefit is delivered by the project. And we face it one out of three organizations reporting high benefit.

This is a fantastic number around 31% of the organization's. And some of the organizations that are reporting to have this time. Instructor's like an enterprise project management office. For those who not do not know the EPMO is a project management office, much more focused on this strategic level and enterprise level, much more connected to the strategy implementation exactly bridging this gap between these strategies you have on paper and the results at the end, these organizations with EPMO, they reported it to 38% more projects meeting their business benefits.

This is a very, very relevant number. So if you are trying to identify potential waste of them, one street, you think in the Valley of project management, this report is a technical explanation of a critical value added buy the project management. When we talk about approaches, 71% are using a gyro approaches. You know, that I, I'm personally not a big fan of Doughtery Neri approach of using this against that.

I think everything contributes and we are seeing the use of a general approach building minimal viable products in different sectors at spark of the approach. This mix it approach to project management. So this 32 pages of Report is one of the main ones, most valuable arguments that you should share with your colleagues, with your peers to make sure that they understand that this Report, you can download for free.

And you can allow the previous ears also to understand that trend. And you just need to go to pmi.org on the learning time, and you can download this report for free, and you can compare with previous years. And I suggest you print. There is more of a presentation shared this with your sponsor or with your executives. So they can be more aware of that. The actual value delivered by the project management. And we start with this positive note that success rate is rising, despite of all challenges we are facing.

So I hope you enjoy this podcast. Don't waste your time doing our other things. If you want to prove, just take a look on this report and share it. It's a very exciting, extremely valuable information from them. You know, I hope you enjoy seeing you next time. Sweet with another five minutes to on Podcast.

Menu

Resources & Insights

Products & Services

More Resources & Insights

Ricardo Vargas

Podcasts

The 2017 PMI Pulse of the Profession® Report

Search in Podcasts

Latest podcast episodes

Book recommendations