{"id":41091,"date":"2018-03-01t14:49:02","date_gmt":"2018-03-01t19:49:02","guid":{"rendered":"\/\/www.deco-dalles.com\/?p=41091"},"modified":"2019-10-18t11:52:19","modified_gmt":"2019-10-18t15:52:19","slug":"drivers-of-project-success-pmi","status":"publish","type":"post","link":"\/\/www.deco-dalles.com\/drivers-of-project-success-pmi\/","title":{"rendered":"these top 3 drivers ensure project success according to pmi"},"content":{"rendered":"
the latest pulse of the profession\u00ae report<\/a>\u00a0from pmi reveals that too much money is being wasted on poor project performance.<\/p>\n in today’s world when an average of 9.9% of every project dollar<\/strong> is lost to lousy performance, it’s time for project professionals to achieve higher results by learning to adapt, adjust and innovate.<\/p>\n however, before you become a champion performer, you’ve got to understand what truly drives a project to success.<\/p>\n a champion organization is built around the idea that through the right projects, programs, and management styles a competitive edge can be achieve. in order to save money, eliminate wasted funds, and enhance project success rates, the following three drivers must be embraced.<\/p>\n pmi’s 2018 pulse report<\/a>\u00a0showcases the importance of engaged project sponsors to help bridge the gaps in communications, while simultaneously increasing support, enhancing collaboration, and reducing risks.<\/p>\n the data shows that when executive sponsors are actively engaged on 80% of projects there is a 40% higher success rate.<\/p>\n additionally, 41%<\/strong> of under-performers stated that inadequate sponsor support<\/span> was the primary cause for project failure.<\/p>\n these stats highlight the importance of not only encouraging a high level of executive sponsor support, but also the value of providing support in the face of under performance.<\/p>\n in other words, it is not enough to simply offer support on projects that seem to be performing in the “champion” category.<\/p>\n instead, a culture must be created where the relationship between project managers and sponsors is robust to encourage the right-level of communications needed for success.<\/p>\n no easy feat, right?<\/p>\n ever try to create a new culture at your company recently?<\/p>\n any seasoned project manager knows when scope is creeping about. their spidey-sense starts tingling.<\/p>\n it’s no secret that scope creep<\/a>\u00a0leads to the following:<\/p>\n when an average of 33% of projects<\/strong> experience scope creep, and 41% of projects are deemed “highly complex,” project managers need to say no and recognize the importance of controlling scope throughout the entire project.<\/p>\n by controlling changes relating to scope, project managers can more effectively meet project deadlines, reduce risks<\/a>, save funds, and exceed expectations.<\/p>\n when a company starts to get better and matures at project delivery, then they can start to establish an environment of continuous improvement that adapts to changing market conditions.<\/p>\n unfortunately, pmi reports that today\u00a0fewer than 1 in 10 organizations<\/strong> report a high level of maturity within their value delivery capabilities.<\/p>\n additionally, only 31 percent of organizations have effectively prioritized the development of mature value delivery capabilities. if you fail to establish mature value delivery capabilities, then the following benefits won’t be achieved:<\/p>\n there are a few key report takeaways that project managers would do well to heed in the upcoming year.<\/p>\n the 2018 pulse of the profession report<\/em> reinforces the belief that effective project management can dramatically impact the bottom line. by reducing the monetary waste associated with poor project performance, organizations can reinvest savings to subsequently produce more, achieve greater successes, and increase growth margins.<\/p>\n champion organizations must embrace the three drivers (executive sponsor support, minimized scope creep, and mature value delivery capabilities) if they want to achieve 92 percent higher project success rates<\/strong>. finally, through proven project management tactics<\/a> organizations can reduce the amount of every dollar wasted from 29.1 percent to 1.4 percent. in short, effective project management leads to reduce spend, higher project success rates, and a competitive edge.<\/p>\n as a project management professional, what do you think about these changes? leave your comments below.<\/p>\n","protected":false},"excerpt":{"rendered":" the latest pulse of the profession\u00ae report\u00a0from pmi reveals that too much money is being wasted on poor project performance….<\/p>\n","protected":false},"author":5,"featured_media":41129,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[202],"tags":[],"content-topics":[],"class_list":["post-41091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-project-management"],"acf":[],"yoast_head":"\ntop 3 drivers for project success<\/h2>\n
# 1. invest in the support of executive sponsors<\/h3>\n
#2. control scope creep<\/h3>\n
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#3. establish mature value delivery capabilities<\/h3>\n
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key takeaway insights from 2018 pulse of the profession<\/a><\/h3>\n
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effective project management leads to a dramatic impact on the bottom line<\/h3>\n