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Organizational Agility Increases Project Success Rates

 

PM PROFESSION NEWS

Two new PMI 2017 Pulse of the Profession in-Depth Reports released

18 September 2017 – Philadelphia, PA, USA – The Project Management Institute (PMI®) today unveiled its Pulse of the Profession in-depth reports: Achieving Greater Agility and The Drivers of Agility. The latest research demonstrates that an organization’s agility level helps determine the success rate of its projects in today’s complex and disruptive global marketplace. While all project management approaches help support successful outcomes, the study found that organizations with higher agility reported more projects successfully meeting original goals and business intent – whether they use hybrid (72 percent), predictive (71 percent) and agile (68 percent) approaches – than those with low agility using the same methods.

PMI’s Pulse of the Profession in-depth reports also revealed that:

  • People and Processes are Key: Organizations with higher levels of agility place a significant focus on building diverse skill sets and process capabilities.
  • Revenue Growth is Greater: 75 percent of organizations with high agility report a minimum of 5 percent year-over-year revenue growth last year, compared to only 29 percent of organizations with low agility.
  • The Project Management Office (PMO) could be a Beacon: Organizations with high agility recognize the value of having some form of project governing body, as 94 percent report having a PMO, an agile work group, or another type of formal governance board – versus 81 percent of organizations with low agility.

“Each day, organizations face heightened competition and ongoing disruptions from new technology, market shifts and social change,” said PMI President and CEO Mark A. Langley. “Given these challenges, it did not surprise us to find that a large majority of organizations indicated greater agility over the last five years. In today’s market, successful organizations must be able to react and adapt to unexpected roadblocks and market changes. Organizations with high agility can switch priorities quickly without losing momentum.”

Based on its two most recent in-depth reports, PMI recommends organizations recognize:

  • Agility is a Balance – Not a Battle of Choices: Seek a balance of speed and flexibility, stability and scale.
  • Adaptability is Key: Include all approaches to project delivery in your organization’s project management toolkit.
  • Drivers of Agility include People and Processes: Encourage open thinking and commit to talent development to accelerate results. Build effective processes to achieve high performance.
  • Agility Levels can determine the Success of an Organization: To achieve maximum business value, react with flexibility, respond to change, and engage employees and customers.

Earlier this month, PMI launched the first-ever bundle of its Agile Practice Guide and PMBOK® Guide â€“ Sixth Edition to reinforce its position that industry professionals should consider the full range of project management approaches in determining which method will deliver the best project outcomes. PMI has provided practitioners with critical information spanning many approaches to ensure industry professionals can select the method that is best suited to an individual project.

“As organizations strive to be more nimble and respond faster, they recognize there is no ‘one size fits all’ approach to delivering successful projects,” Langley said. “Having a diverse toolkit for project managers enables them to contribute to the overall agility of an organization.”

The 2017 Pulse of the Profession in-depth reports features feedback and insights from 1,469 project management practitioners and leaders that use predictive and agile project management approaches in Australia, Brazil, Canada, China, France, Germany, India, New Zealand, United Kingdom and United States.

Project Management Institute (PMI) is the world’s leading association for those who consider project, program or portfolio management their profession. Founded in 1969, PMI delivers value for more than three million professionals working in nearly every country in the world through global advocacy, collaboration, education and research. PMI advances careers, improves organizational success and further matures the project management profession through globally-recognized standards, certifications, communities, resources, tools, academic research, publications, professional development courses and networking opportunities. As part of the PMI family, ProjectManagement.com creates online global communities that deliver more resources, better tools, larger networks and broader perspectives. Visit PMI at www.PMI.orgwww.projectmanagement.com, www.facebook.com/PMInstitute and on Twitter @PMInstitute.

Source: Project Management Institute