Organisations additionally seek best practices for the implementation of • Cost Management - As budget improvements in human resource organisational strategy through successful assumptions and financial management. Human resource projects. Our analysis showed that as performance are leading indicators management and succession planning respondents are demonstrating higher of project success, organisations seek remains an area to be developed as 30.7% PM maturity, the three main areas where to establish formalized processes to of respondents believe their organisations organisations have formalized processes manage project costs. do not have suitable succession plans and in place to manage performance are the – 54.9% of respondents agree that contingency plans in place for key project following: the underlying budget assumptions resources. Less than half of respondents • Scope Management - The largest have been clearly documented and agreed that the approach to quality percentage of survey respondents assessed, and these are considered assurance is risk-based, and is consistent indicated formal processes in place for to be reasonable. with organisational standards. Scope Management. This statistic is – 57.5% of respondents agree that “Poor estimates during project planning” a clear indicator of high maturity as funds are appropriately allocated is the largest contributor to project organisations have grown to anticipate to the project, consistent with the failure. Furthermore, less than half needed changes throughout the project stage, and are only released (46.5%) of survey respondents agree project lifecycle, supporting changes when board approval has been that an effective, formal process is in within a project, and promoting given. place to manage changes to baseline traceability. As projects anticipate Organisations are focusing on quality plans. This statistic indicates that changes within the project lifecycle, and cost while managing the scope of organisations may underestimate they are better prepared to deliver on the engagement in order to reach higher project requirements and have difficulty time, within scope, and within budget levels of performance. Internal controls efficiently and effectively adapting to without hindrance. and processes allow organisations to changes throughout the project lifecycle. – 66.6% of participants agree that better respond to changing project Changes in scope may have ramifications additional change control processes demands, decreasing the time spent in each performance indicator and PM and deliverable controls are in place adapting to change, and increasing processes, organisational structure, throughout the project lifecycle to project success. people, and systems and tools must be in assure quality of project delivery. place in order to adapt to these changes. • Quality Management - Survey Key Finding: Organisation Without the implementation of these responses indicate that organisations maturity is directly correlated core elements, projects run the risk of not have established organisational with organisational success. meeting schedule, scope, budget, quality, enablers for developing capabilities to and business benefits. aggregate best practices, and methods Organisations that operate at higher Performance indicators allow for evaluating best practices and levels of maturity are on average more organisations to track and record project capabilities. These practices monitor, successful than those operating at lower success. As PM tools are adapted, track, and record quality throughout maturity levels. Organisations that are organisations can better track these core the project lifecycle to indicate where able to implement and optimize effective elements. the project is successful, and where PM tools will receive greater benefits Key Finding: Higher maturity the project seeks to improve. This realisation. When an organisation, which yields higher performance. measurement allows the organisation has a methodology in place to improve to pinpoint areas to focus on, project performance and management Over 62% of organisations are in the encouraging a higher quality of and focuses on continuous improvement, Level 4 or 5 of PM maturity and have performance. it will have a competitive advantage increased standards for PM. We analyzed – 62% of participants agree that strategy in place to remain successful in the data to determine if organisations adoption of quality assurance the marketplace. Successful organisations and their leadership are putting emphasis strategy effectively addresses scope identify the four core elements on sustainable project and programme of testing, timing, responsibility, (processes, organisational structure, management processes, and aiming for approach, pass/fail criteria, people, systems and tools) needed to higher levels of maturity to realise higher corrective action processes, and achieve benefits realisation. Elements performance and other benefits. sign-off. are in place to adapt to performance As project maturity strives to produce – 62.9% agree that document control needs in the areas of time, scope, budget, sustained outcomes in a predictable, processes are in place, including quality, and business benefits. These controllable, and reliable manner, it appropriate identifiers (naming organisations will be better suited to is essential for most organisations to conventions), version control, meet changing environmental factors and establish formal, effective processes to audit trails, reviews, approvals, business needs, as well as to cut costs and promote high performance through the referencing, and confidentiality maximize efficiency and effectiveness. project lifecycle. High maturity identifies labels/controls. 14 Insights and trends: Current Portfolio, Programme and Project Management Practices