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50+ Project Management Statistics and Facts Updated 2020

50+ Project Management Statistics and Facts Updated 2020

Nikhil Raj1346 14-Aug-2020

Management of the project is very essential for every organization. Projects are the things that run on a long term basis so to ensure the success of the project, it is very essential to keep it in line. The training to run a successful project is offered by PMP and many other certification courses.

The project management techniques will either help the managers to make or break the organization to run it in the long term. For that, you require the ways through which you can manage your team. Let's discuss that. 

Statistic Methodologies for the Project Management

  1. About 76% of the organizations associated with the project management tries to meet with the goals by using strategic initiatives. 
  2. PMI states that PRINCE2 has the least methodologies for the management of the project. It is better to opt for some other methodologies like that of Agile or any else.
  3. The Agile management methodology is only used by 11% of the companies.
  4. It is believed by 76% of the organizations that Agile will prefer waterfall methodology by 2020.
  5. The organizations that prefer other PMP methodologies or else are likely to see the overrun of the budget.
  6. Among all the other methodologies, the here-to-stay methodology for the benefits of the project Agile.

Statistic performances of the Project Management

7. About 12% of the organizations found their project failure due to poor performance and the decisions flawed.

8. PMP has the best performance statistics. From every $1 billion invested, due to poor performance about $122 million are wasted.

9. The performance of the project can be boosted by EPMO.

10. About 8% of the managing capacities of the employees and managers can be enhanced by moving into green buildings experienced by PMP certificate managers.

11. The performance of the employee in project management is directly proportional to political, economic, or technological changes in the organization.

12. For boosting the performance, 83% of the high performed organization invest in project management training.

13.. To be successful in the project, one must achieve the six-performance metrics.

14.. The performance of the project is solely dependent on the project manager.

Statistic Software of Project Management

15. Based on the functionality of the project, 40% of the managers choose project management software.

16. Software like cloud makes communication easy with their clients.

17. By using open software, the management teams get enhanced and innovative.

18. Unclear project scope and company vision are the roadblocks for the implementation of Agile.

19. All the benefits of the companies are received through software investment by a few of the companies.

20. Appropriate software solutions could also be used as a solution.

21. Scrum or Agile management software is used by 24% of the companies.

22. Project management software has great impact and can be considered as a tool of communication

23. As per the reports, by 2025, $6 billion would be pegged in project management software.

24. AI or software management would change the way of business in the upcoming years.

Statistic reasons for the success of the project management

25. The mature deliveries of the projects help in the minimization of the risks, costs, and increases the value as believed by the high-performance managers.

26. Project management should clearly define the roles and responsibilities of the organized teams.

27. Through the PMP certification, project managers have the training and with the help of it, the high profiled companies tend to complete the project successfully on time.

28. by using only one methodology, whether it is from PMP or any other would-be enough ensured by 56% of the management companies.

29. The high profile managers try to develop the skills of the employees as per the requirements of the project.

30. Through the proper talent and change management, 565 of the projects tend to meet the success of the project.

31. The full benefits are delivered to the clients by 35% of the projects. PMP has the best benefits to discuss the success of the project.

32. Project management is crucial for the growth of the business. This statement is agreed upon by 94% of the companies.

33. From the reports stored in clouds, 58% of the organizations have practiced their key steps that help to meet with success.

34. The chances for the success of the project naturally increases if managed with well-defined practices and processes.

Statistic reasons for the failure of the project

35. About 37% of the project failure occurs due to the lack of milestones and the objectives of the defined project. PMP certification could help project managers out of it.

36. Real-time project KPI's are required and around 55% of the organization does not have that.

37. If the project manager has PRINCE2 certification, the project failure due to the budget can be stopped. About 50% of the project has a budget of over a million US dollars. And about 27% of the projects are run over-budget.

38. Many project management teams are confused about the responsibilities and roles provided and have become the greatest barrier to the failure of the project for the companies.

39. Among all the three causes that play a major role in project failure are, lack of improvement of the team, execution of the project, and poor scalability. PMP certification can stop all these three very easily.

40. A track record for the success of the project is a must. The track of the project can be kept with the help of cloud project management tools.

41. Do not try to attempt too many projects at a time. Through the cloud, try to keep records and run one or two projects at a time.

42. Involvement of the senior management is a must. One-third of the project fails due to the lack of crucial decisions.

Industry-Based Facts of Project Management

43. In the health sector, about 17% of jobs are increased.

44. In 2017, IT projects were described as Agile.

45. Understanding of IT projects and its objectives have been reported by 55% of IT managers.

46. About 75% of the business executives believe that their project will fail due to the implementation of project software.

47. The failure rates of IT projects are between 5% to 15%.

48. Agile methodologies are used by 93% of communication service providers.

49. IT projects do require more focus on governance.

50. Project cost is the main issue faced by managers claimed by 5% of businesses.

51. Schedule, quality, and budget are three goals of IBM for project success.

52. IT projects management does not need more complexity.

Hence, these were the statistics and facts of the project management one needs to know.

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