Study: Global Business Performance Significantly Improved Through Project Management

The study, "Researching the Value of Project Management," is "unequivocal in its findings and independently validates what we've believed all along," said Edwin J. Andrews, Ph.D., director of Academic and Educational Programs & Services at the Project Management Institute.

"Project management is critical in today's urgent and volatile economic environment. Business, government and non-governmental organizations can maximize performance and results when project management is properly implemented within the context of their organization."

Principal investigators Janice Thomas, Ph.D. and Mark Mullaly, PMP led this study throughAthabasca University inAlberta, Canada. Their team of nearly 50 researchers on 17 global teams completed more than 18 months of data collection including interviews with 450 managers and executives.

The researchers' preliminary findings have been archived and can be viewed online at www.pmi.org/value. Due to publish in October 2008, the study will analyze project management from a detailed matrix of geography, industry and organizational type.

"This study is the first statistically significant look at project management from an organizational perspective," Andrews said. "It clearly shows that everyone from top executives and project managers to subcontractors, suppliers and other vendors recognize the value of project management in achieving business results and meeting stakeholder expectations.

"While project managers have always recognized the value and role of project management, executives and organizational leaders are often unaware of the role formal project management can play in securing business results and providing competitive advantage.

"Project Management is particularly important today as energy and commodity prices spike and access to capital is squeezed," Andrews continued.

"As this study clearly demonstrates, project management provides critical business solutions that can help any company or organization achieve tangible business results and be more competitive in today's global marketplace."

Project Management Institute (www.pmi.org) is the leading advocate for the project management profession globally. Founded in 1969, PMI has more than 400,000 members and credential holders in 174 countries. PMI's Project Management Professional (PMP) credential is globally recognized as the gold standard credential in project management.

SOURCE Project Management Institute

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