Making project management indispensable for business results.®

PMI’s 2015 Pulse of the Profession® “Capturing the Value of Project Management”

Stephen Edwards and Mike Blakeney

Cardiff, September 2015

Summary

Business environment continues to be challenging in public and private sectors

But project success is static – need to go back to basics

Number of key fundamentals at the heart of this – Culture

– Talent

– Process

…but knowledge transfer and lessons learned absolutely critical

2

Business Environment

Source, World Bank

Business Environment

As PMI looks at the state of project, programme and portfolio management in 2015,

we see that a number of global dynamics are forcing organisations to take a more critical look at how they operate.

Project Success Trend

PMI’s 2015 Pulse of the Profession® 5

Business Environment

That leads us to ask “why,” but also suggests it’s time for organisations to revisit the fundamentals and, essentially, go back to the basics of project management.

Why?

A Return to Basics

80% On Time

On Budget

On Goal

High-performing organisations achieve 80% or more of projects on time, on budget and meeting original goals

Low-performing organisations achieve 60% or fewer projects on time, on budget and meeting original goals

A Return to Basics

High-performing organisations also waste about

than low performers

Less Money

13x

12%

But we have not seen an increase in the number of high-performing organisations since 2012. This number remains steady at 12 percent.

Process

Talent

Culture

The 2015 Pulse findings detail and demonstrate a clear path forward through a focus on the following fundamentals:

Focus on Fundamentals

Focus on Fundamentals Culture

PMI’s 2015 Pulse of the Profession® 10

High Performing Organizations Create a Culture of Project Management

Focus on Fundamentals Talent

PMI’s 2015 Pulse of the Profession® 11

High Performing Organizations Focus on Talent Management

Focus on Fundamentals Process

PMI’s 2015 Pulse of the Profession® 12

High Performing Organizations Focus on Process

Foundational Practices

Knowledge Transfer

Risk Management

Agility

Higher Benefits Realisation Maturity

Our 2015 Pulse research shows high performers are more likely to focus on the following compared to their lower-performing counterparts:

PMI Thought Leadership: Knowledge Transfer

When organisations value knowledge transfer and implement good practices to support it, they improve project outcomes by nearly 35%

Key Findings: The Knowledge Transfer Life Cycle

1. Identifying: Determine what knowledge needs to be transferred

2. Accumulating: Capture the essential knowledge that needs to be transferred

3. Sharing: Establish methods for transferring the knowledge

4. Applying: Use that knowledge that is transferred

5. Assessing: Evaluate the benefits of the knowledge that is transferred

Knowledge is NOT Information or Data

Culture People Leadership

Extremely or very valued

18%

96% Most Effective

Least Effective

Organisations effective at knowledge transfer have a culture that values it.

Culture drives everything. - Ed Hoffman, Chief Knowledge Officer, NASA

Frictions

Lack of Trust

Different Cultures

Intolerance for

mistakes

Knowledge is NOT Information or Data

Culture People Leadership

Leadership Sets the Tone

95% of effective organisations identify someone who has ultimate responsibility for knowledge transfer

Knowledge is NOT Information or Data

Culture People Leadership

Project Managers Specify the Critical Knowledge

The value of a formal knowledge transfer process

90% of employees are willing to share

knowledge

82% of employees

adhere to the knowledge transfer process

Five Steps

❶ Identify relevant and valuable knowledge

❷ Capture and retain that knowledge

❸ Share it with others

❹ Apply transferred knowledge

❺ Assess the value/benefits of specific knowledge

How can PMI help?

Research and resources

Experts

Case studies

www.pmi.org/pulse

www.pmi.org/pulse

www.pmi.org/pulse

Some things you might want to consider:

1. What does excellent knowledge transfer look like?

2. Does your organisation fall short? Why?

3. How do you get people involved?

4. How do you create a culture of knowledge transfer?

5. What can sponsors do to support you?