PMI Management Just Got a Facelift

By Alexandra Levit's Water Cooler Wisdom

In 2016 Fast Track piece, I covered a disconcerting study conducted by The Project Management Institute (PMI). The research illustrated that organizations around the world waste an average of $122 million for every $1 billion spent on projects as a result of poor project management practices.

Called Pulse of the Profession®: The High Cost of Low Performance study, the study indicated that the amount of waste had increased 12 percent over the prior year. Featuring insights from nearly 2,500 project managers, nearly 200 senior executives, and nearly 300 Project Management Office (PMO) directors from a range of industries. Despite the fact that of the industries included in the study, government agencies had the lowest average monetary waste on spending projects ($108 per $1 billion spent, financial services was much higher), the feds were the first to take action.  Read more