Now, with increased scrutiny over budgets • Employing an organisation’s • The adoption of Portfolio Management and “doing more with less,” efficiency and typical PM approach leads to (PfM) has not increased amongst effectiveness are key factors of successful accomplishments in achieving project organisations, but its use leads to organisations. We have reviewed the data scope, quality, and business benefits; increases in the key performance from the 2012 third edition of the survey however, lower performance levels indicators of quality, scope, budget, to help identify correlations between PM were noted in meeting schedule time, and business benefits. When and organisational success within our five and budget objectives. Survey data implementing PfM, we have found key performance indicators (delivering showed that organisations employing that the three largest ways to be projects on time, within budget, to their typical PM approach would more successful include aligning scope, to quality standards, and with meet or exceed the organisation’s the portfolio with the organisation’s the intended business benefits). In the quality standards 93% of the time; strategy; using an enterprise PM 2012 survey, we continued our analysis deliver within the project’s scope 92% Office (PMO) to manage the portfolio; to determine the current state of PM of the time; and result in meeting and conducting monthly reviews. maturity and the characteristics of higher- or exceeding the projected business Organisations employing these performing projects. The survey also set benefits of the project 89% of the time. approaches should expect to see an out to find out more about current trends While these results are encouraging, increased likelihood of portfolios that and best practices in PM. We evaluated the data also showed lower meet schedule, scope, quality, budget, what was working well, and where areas performance levels in the project’s time, and business benefits. for improvement were needed within schedule and budget. In these areas, • Leveraging efficient and effective the PM discipline. We also observed we find you would miss your project’s communication methodologies the following trends and common schedule and budget objectives positively impacted a project’s quality, practices, based on the survey results and approximately 30% of the time. scope, and business benefits, but subsequent detailed analysis: • Poor estimation during the planning showed a negative correlation with • As many as 97% of respondents phase continues to be the largest budget and schedule. This is the same agreed that PM is critical to business (32%) contributor to project failures. trend noted in the use of employing an performance and organisational • The percent of organisations that organisation’s “typical” PM approach. success, and 94% agreed that PM use established PM methodologies is Data further suggests that Executive enables business growth. stable, and employees are obtaining Management agrees that the use • We found that although PM the applicable certifications. Using of communication methods have a maturity levels are on the rise, these methodologies increases success higher positive effect on success of most organisations desire a higher in the key performance indicators projects than the other respondents maturity level. Approximately 32.1% of quality, scope, budget, time, and within the survey population. Based of organisations are continually business benefits. on their responses, there was a 7% striving to reach higher maturity levels • Private sector organisations with increase in delivering of scope, 4% by seeking to strengthen effective certified Agile practitioners are increase in meeting quality standards, team-building and skill development leading the current adoption and use 4% increase in delivering intended activities to improve team performance of Agile PM methodologies. However, business benefits, and 8% increase and promote high productivity, work organisations have not yet achieved a in finishing within or ahead of quality, and good morale. However, high level of maturity in implementing schedule. The largest increase (17%) most organisations also require Agile values and principles. We in the use of effective communication improvement in organisational found that 34% of respondents methodologies was found in finishing structure, human resource use an Agile PM methodology within budget. management, and quality assurance. within their organisations. Most • A combined total of 65% of our Nearly 30.7% of respondents organisations which employ an Agile respondents reported international believe their organisations do not PM methodology contribute the use of and national level involvement in their have suitable succession plans and Agile toward project success (59%), project which echoes the importance contingency plans in place for key project efficiency (59%), and enabling of organisational inclusion and project resources. We also found business performance goals (49%). collaboration, spanning departmental that higher maturity yielded higher and geographical boundaries. More performance within the five key than 80% of respondents reported that performance indicators. senior management supports their respective project; however, lack of executive sponsorship was the second largest factor that contributed to poor project performance. While a majority of the projects are supported by senior management, it appears that executive sponsorship should be improved in order to help projects achieve success. 4 Insights and trends: Current Portfolio, Programme and Project Management Practices