Of late, the project management landscape has become dynamic. There is increased emphasis on efficiency, productivity and reporting as well as added stress on the IT industry. Due to the changing dynamics of the industry, being a project manager today is much different than being a project manager back in 2005. A lot of research has been done to analyze how often projects fail, the cost companies bear due to losses, etc.

The project management statistics below can help us understand how the role of a project manager has changed over the years and how project management has performed across various industries in the last 5 years.

  1. One out of six IT projects has an average cost overrun of 200% and a schedule overrun of 70%. Around 45% of companies admit that they are unclear about the business objectives of their IT projects. (Harvard Business Review)
  2. As per an IBM study, about 40% projects meet budget, schedule and quality goals. (Harvard Business Review)
  3. Only around one-third of all projects were successfully closed as per the time and budget set, during the past one year. (Standish Group)
  4. About 75% of IT Executives expect their software projects to fail. (Geneca)
  5. The US economy loses $50-$150 billion because of failed IT projects every year. (Gallup Business Review)
  6. The median salary of project managers is $87,500 in the United States. (Glassdoor)
  7. 50% of all Project Management Offices shut down within three years. (KeyedIN)
  8. Only 56% of project managers hold professional certification and about two-thirds of CIO’s consider PMI certification as a valuable benefit, but not a necessity. (Wrike)
  9. High performing organizations are able to successfully close 89% of their projects whereas low performing organizations complete only 36%. (Project Management Institute)
  10. 80% of “high-performing” projects are led by a certified project manager. (Price Waterhouse Coopers)
  11. About 49% organizations have incorporated a project management training program. (PM Solutions)
  12. 44% project managers do not use project management software, even though PWC concluded that using PM software increases performance. (Price Waterhouse Coopers)
  13. A whopping 97% of companies believe project management is imperative for business performance and organizational success. (Price Waterhouse Coopers)
  14. 60% companies do not measure ROI on their projects. (KPMG New Zealand: Project Management Survey 2010)
  15. Around 33% projects meet failure due to lack of involvement from senior management. (University of Ottawa)
  16. Project managers consider reliability, ease of use and ease of integration as the top three parameters while selecting PM software. (The Access Group)
  17. 66% project managers identified level of software support as the key decider while investing in new software. (The Access Group)
  18. Two-thirds of companies use project management software to communicate with their clients. (Capterra)
  19. It is estimated that the healthcare industry will increase project management roles by 30% between 2010 and 2020. This is a higher growth rate when compared to the other project-intensive industries. (Project Management Institute)

It is projected that more than 40 million new project manager roles will be created across the globe by year 2020. This will have an economic impact of more than $20 trillion on the seven project-intensive industries such as Finance & Insurance, Manufacturing, IT services, Utilities, Healthcare, Oil & Gas and Construction. (Project Management Institute Research Report)

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