Project management is an essential part of every organization.
Whether you are overseeing a team or leading major projects and their execution process, it is essential to keep everything in line to ensure project success.
In the long run, it is the project management techniques adopted by managers that either make or break the organization.
But, how do you know which technique works?
How will you know what is the best way to manage your teams?
Why do projects fail even if your PM technique is usually full-proof?
Well, it is best to know the latest PM stats and trends to know what works and what doesn’t.
And, that’s exactly what we cover in this blog. We bring to you 100+ project management stats you must know to streamline workflow, manage teams efficiently, and ensure successful project execution.
“Reasons for Project Failure” Statistics
1. 37% of projects fail due to the lack of defined project objectives and milestones. (Source: PMI)Tweet this
2. 55% of organizations do not have access to real-time project KPIs. (Source: Wellington)Tweet this
3. 70% of projects are prone to failure. (Source: 4pm)Tweet this
4. 44% of projects fail due to a lack of alignment between business and project objectives. (Source: PMI)Tweet this
5. 80% of organizations report that they spend at least half their time on rework. (Source: Geneca)Tweet this
6. 50% of projects that fail have a budget of over a million US dollars. (Source: Gartner)Tweet this
7. 27% of projects usually run over-budget. (Source: PMI)Tweet this
8. Only 36% of projects are completed when they are executed by low-performing companies. (Source: PMI)Tweet this
9. 46% of companies have come forward to accept that they do not understand the need or importance of project management. (Source: PMI)Tweet this
10. 31% of companies claim a lack of a common vision is the most common reason why projects fail. (Source: Geneca)Tweet this
11. One-third projects fail due to lack of senior management involvement in crucial project decisions. (Source: University of Missouri-St. Louis)Tweet this
12. 41% of underperformers and 17% of champions state that the main reason why projects fail is inadequate sponsor support. (Source: PMI)Tweet this
13. 47% of projects fail to meet their goals due to poor management of requirements. (Source: PMI)Tweet this
14. Attempting to run too many projects is the biggest reason for project failure among 37% of organizations. (Source: Wellingtone)Tweet this
15. 50% of organizations say they do have a track record of project success. (Source: Wellingtone)Tweet this
16. 75% of companies say that they lack confidence when it comes to project success. (Source: Geneca)Tweet this
17. The 3 root causes of project failure are inconsistent execution, lack of continuous team improvement and poor scalability. (Source: Enkillc)Tweet this
18. 56% of companies are dissatisfied with their current level of PM maturity. (Source: Wellingtone)Tweet this
19. 38% of companies believe that the greatest barriers to success are the confusion about team roles and responsibilities. (Source: Geneca)Tweet this
20. 23% of organizations reported that they are always in agreement when a project is complete. (Source: Geneca)Tweet this
21. 20% of companies say that their IT requirements process is not the articulation of business need. (Source: Geneca)Tweet this
There is not one reason why projects fail, and with the above mentioned project failure statistics, it is important to understand the need for a well-defined and streamlined project management system that helps in streamlining workflow and ensuring proper project execution.
“Reasons for Project Success” Statistics
22. 87% of high-performing managers believe that mature delivery capabilities can minimize risks, control costs, and increase value. (Source: PMI)Tweet this
23. 45% of PMOs have clearly defined roles and responsibilities. (Source: Wellington)Tweet this
24. 89% of high-performing companies tend to complete projects successfully. (Source: PMI)Tweet this
25. 76% of high-performing organizations use strategic initiatives to meet business intent and original project goals. (Source: PMI)Tweet this
26. 37% of projects are almost always delivered in time. (Source: Wellingtone)Tweet this
27. 58% of organizations report more defined processes and practices as their key step to project success. (Source: PMI)Tweet this
28. 45% of high-performers recognize and develop their employees’ skills as required. (Source: PMI)Tweet this
29. 35% of projects almost always deliver full benefits. (Source: Wellingtone)Tweet this
30. 56% of projects (on an average) are bound to succeed with proper talent and change management. (Source: PMI) Tweet this
31. 94% of companies agreed that project management is crucial for business growth. (Source: Capterra)Tweet this
Understanding the importance and value of project management is the key ways to ensure project success. Other than that, with well-defined processes and practices, the chances of project success automatically increases.
Adopting Project Management as a Practise
32. Kaizen, a lean project management technique, has shown immense growth in employee social satisfaction and well-being. (Source: SAGE Journals)
33. Employee retention is expected to increase by 10% by 2020 due to organizations giving their employees the option to choose their own work style. (Source: Gartner)Tweet this
34. 21% of organizations use a set of standardized project management practices. (Source: PMI)Tweet this
35. 55% of project managers tend to create a scope document before executing projects. (Source: Wellingtone)Tweet this
36. 28% of companies have reported using project performance techniques. (Source: PMI)Tweet this
37. The global project management industry is projected to grow by $6.61 trillion. (Source: PMI)Tweet this
38. Process maturity is more prevalent among high-performing organizations. (Source: PMI)Tweet this
There is a big difference between understanding the importance of project management and actually implementing it efficiently. In today’s world, project managers have started adopting advanced project management practices in their organization as they understand why it is important and how it needs to be implemented.
Industry-Based Project Management Facts
39. In the US, there was a 17% increase in project-oriented jobs in the health sector. (Source: PMI)Tweet this
40. 80% of federal IT projects were self-described as ‘iterative’ or ‘Agile’ in 2017. (Source: Deloitte) Tweet this
41. 25% of participating managers feel the business team is almost “always out of sync”. (Source: Geneca)Tweet this
42. 93% of communication service providers are using agile project management methodologies. (Source: Gartner)Tweet this
43. 55% of IT managers reported they have an understanding of the business objectives of their IT projects. (Source: Geneca)Tweet this
44. 5% of businesses claimed that project cost is the main issue faced by project managers while handling manufacturing projects. (Source: Foreign Policy)Tweet this
45. IT project failure rates range between 5% to 15%. (Source: Gallup)Tweet this
46. 75% of business executives who implement software projects believe their projects will fail. (Source: Geneca)Tweet this
47. IBM has three goals for project success – a check on the project schedule, quality, and budget. (Source: IBM) Tweet this
48. 17% of IT projects fail so miserably that they could threaten the company’s existence. (Source: Calleam)Tweet this
49. 75% of IT executives believe their projects are doomed right from the start. (Source: Geneca)Tweet this
50. Only 4% of physicians have reported that they have extensive, fully functional Electronic Health Records (EHR) systems. (Source: PMI)Tweet this
51. IT projects with a budget of about $1 million is 50% more likely to fail as compared to projects with a budget of $350,000 or below. (Source: Gartner)Tweet this
52. IT projects need to be less complex, not to have more focus on governance. (Source: Gartner)Tweet this
Lack of project management affects different industries in different ways. Similarly, the opposite is also true. Perfect project management will affect different industries in different ways. The main outcome remains the same – no matter what industry a manager belongs to, perfect project management will always be the key factor of making or breaking a project.
Project Management Methodologies Statistics
53. Nearly 56% of companies have used only one project management methodology. (Source: Capterra)Tweet this
54. Only 11% of companies use the Agile project management methodology. (Source: PMI)Tweet this
55. 71% of respondents use the Agile project management methodology more frequently than in previous years. (Source: PMI)Tweet this
56. PRINCE2 is the least popular project management methodology. (Source: PMI)Tweet this
57. 76% of organizations believe the agile methodology will be preferred over the waterfall methodology by 2020. (Source: KPMG)Tweet this
58. Organizations that adopt a particular PM methodology are 28% less likely to foresee budget overruns. (Source: CIO)Tweet this
59. 97% of companies believe that adopting the right project management methodology is crucial to enhance business performance. (Source: PWC)Tweet this
60. 60% of project managers report they usually apply a predefined project methodology. (Source: Wellingtone)Tweet this
There are so many project management methodologies that managers can adopt to streamline workflow in their organization. But, with the above stats, it is safe to say that the most popular and “here-to-stay” project management methodology is Agile.
Project Management Performance Statistics
61. 12% of organizations invested in projects found their decision to be flawed as these projects failed due to poor performance. (Source: PMI, 2020)Tweet this
62. For every $1 billion invested in projects in the US, $122 million was wasted due to poor project performance. (Source: PMI)Tweet this
63. Moving into green buildings can enhance the decision-making capabilities of employees and managers by 8%. (Source: EHP)Tweet this
64. 5% of employee performance is directly proportional to technological, political, or economical changes in an organization. (Source: HealthKnowledge)Tweet this
65. A well-aligned Enterprise Project Management Office (EPMO) can boost performance. (Source: PMI)Tweet this
66. 31% of organizations never completely realize the anticipated benefits from their projects. (Source: Wellingtone)Tweet this
67. There are six project performance metrics that every project must achieve to be successful. It includes whether the project was completed in the set deadline, and in the set budget, and in the allocated time. Other factors include scope creep, budget overruns, and other failure reasons. (Source: PMI)Tweet this
68. 83% of high-performance organizations always invest in project management training to boost performance. (Source: PMI)Tweet this
69. Project Management Technology Quotient (PMTQ) is going to play a major role in project performance in the coming years. (Source: PMI)Tweet this
Project performance is dependant on a number of factors, but all these factors depend solely on the project manager. When a project manager understands all the roles, definitions, strategies, and teams involved in a project execution, only then can a project be completed successfully.
Project Management Certification Statistics
70. Project management is an in-demand certification, wherein the salaries vary on the basis of the technology area. (Source: Business News Daily)Tweet this
71. The most important job profiles that gain an edge over others by pursuing a PM certification include IT Project Managers, IT Senior Project Managers, Program Managers, Software Development Managers, and Engineering Operations Managers. (Source: Knowledgehunt)Tweet this
72. 90% of institutions and organizations see project management certifications as the key to ensure quality performance. (Source: SimpliLearn)Tweet this
73. Certified Associate in Project Management (CAPM) is considered to be an essential project management certification for those who wish to attain PMP status by stages, in contrast to gaining it in a single leap. (Source: Business News Daily)Tweet this
74. The median salary of project managers in Canada with and without a PMP certification are $63,746 and $74,995 respectively. (Source: WPConsulting)Tweet this
Another aspect that is gaining importance at a fast rate among managers is project management certification. Every manager needs to pursue a specific course to have all the needed knowledge to manage their team and implement the right strategies for efficient project planning and execution.
Project Management Software Statistics
75. 40% of manager choose project management software on the basis of their functionality. (Source: Statistica)Tweet this
76. 44% of project managers do not use any project management software. (Source: PWC)Tweet this
77. 90% of companies have reported that using an open source software enhanced their teams’ efficiency and innovation. (Source: Foreign Policy)Tweet this
78. 67% of companies use project management software to communicate easily with their clients. (Source: Capterra)Tweet this
79. The biggest roadblocks for implementing Agile are the lack of company vision, projects per team member, and unclear project scope. (Source: Target Process)Tweet this
80. 42% of companies reported that they received most or all benefits from their software investment. (Source: Wellington)Tweet this
81. Project management software enhances team communication to the maximum. (Source: Capterra)Tweet this
82. 56% of organizations reported that the main reason why they don’t prefer using project management software is because it is too expensive. (Source: Capterra)Tweet this
83. 85% of organizations believe that AI or project management software will significantly change the way they do business in the next five years. (Source: PMI)Tweet this
84. The median spent on implementing a project management software in an organization is $1,200 on an average. (Source: Capterra)Tweet this
85. 56% of organizations reported they have only used one project management system. (Source: Capterra) Tweet this
86. 16% of companies are making use of an appropriate software solution. (Source: Wellington)Tweet this
87. 24% of companies use Scrum or Agile project management software. (Source: Capterra)Tweet this
88. Organizations typically spend $10,329 a year ($861 a month) on project management software. (Source: Capterra)Tweet this
89. Nearly 2/3rd of companies communicate with their clients using project management software. (Source: Capterra)Tweet this
90. 56% of companies stated the software they are using is too expensive. (Source: Capterra)Tweet this
91. The one tool that has the greatest impact on team communication is project management software. (Source: Capterra)Tweet this
92. By 2025, the market of global online project management software is pegged at $6 billion. (Source: Transparency Market Research) Tweet this
93. The top 4 requested features in any project management software include file sharing, time tracking, email integration, and budget management. (Source: Capterra)Tweet this
The value of project management has been realized over the last few years and many people have started adopting PM software to streamline their workflow. Another reason why managers have started adopting PM tools is to boost team collaboration and performance.
Project Management Training Statistics
96. 77% of organizations have defined formal processes to develop PM competency. On the other hand, only 34% of underperformers offer similar training. (Source: PMI)Tweet this
97. Leadership and technical skills still remain the most important skills for top-performing organizations. (Source: Forbes)Tweet this
98. 48% of organizations have invested in accredited project management training programs. (Source: Wellington)Tweet this
99. 59% of organizations have invested in ongoing training for their employees on the use of project management tools and techniques. (Source: PMI)Tweet this
100. Only 2% of organizations said their primary focus in the organization is on training employees. (Source: PMI)Tweet this
101. 28% of organizations reported that they don’t invest in project management training. (Source: Wellington)Tweet this
102. 49% of organizations have a PM training program in place. (Source: Capterra)Tweet this
103. 57% of PMOs are hugely responsible for PM training. (Source: PM Solutions)Tweet this
Project training is now being recognized as one of the most important metrics that help in optimizing and improving organizational workflow. Managers also adopt robust project management tools to monitor their team performance, analyze their pain points, and improve overall productivity easily.
The Need for Project Management Stats
Project management is one aspect that can make or break an organization.
In an attempt to assist organizations to value project management and understand how important it is in business, we’ve listed 100+ statistics covered by major brands in the market like PMI, Capterra, Wellington, Business News Daily, PM Solutions, and others. The project management facts covered by these companies imply on various industries and majorly discuss how managers have a way to improve their team performance and project execution.
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