There is no reason why Project Management practices should be different from any other human activity and would not be impacted by the general time acceleration. In reality, Project Management has an active role to play in this acceleration, supporting innovation and business transformation.
Project management practices have still to evolve:
- from inflexible scope to iterative and agile practices,
- from inflexible specifications to early stage experimentation,
- from administration model (fixed price & risk management centric) to value added model (customer centric).
The key words for project efficiency & acceleration are agility and experimentation.
The following Project Management statistics, from the PMI, reveal how much progress we collectively still need to make to feed the gap for successful and pacify projects.
1 – Agile approaches are present in less than 50% of the projects:
In 2017, organizations have used the following types of approaches : Agile (21%), Waterfall (37%), Hybrid Agile/Waterfall (20%), other (23%) (source : PMI).
2 – More than 2/3 of companies are using agile approaches to some extend:
In 2017, 71 percent of organizations now reporting they use agile approaches to their projects sometimes or more frequently than in the past (source : PMI).
“In fact, the world is changing very quickly around us, so much so that we cannot afford anymore to have projects taking two to five years to deliver, because, during this time, the initial requirements have changed.”
3 – Project completed does not mean success:
In 2017, more than 50% of projects failed. Out of the 50% completed successfully, only 69% met the goals and business intent of the project (source : PMI). 14% of the completed projects were considered as failures.
1 in 3 organizations has a formal, statistical methodology to assess the contribution of project execution success once the project is completed (source : PMI).
Benefits realization management can help close the gap between strategic planning and execution by ensuring the implementation of an organization’s most valuable initiatives.