Each year, the Project Management Institute (PMI) releases its ‘Pulse of the Profession’ report – an annual global survey of project management professionals designed to chart the major trends in project management. The report covered numerous facets of successful project management, below are three takeaways that had us nodding our head in agreement.
 
As you may know, Active Risk strongly believes that strategic project risk management is the key to delivering projects on time and within budget, so it’s no surprise that this report draws a number of conclusions with which we strongly agree and have touched upon ourselves.
 
“The best performers standardize and mature their project, program and portfolio practices over time to drive organization-wide efficiencies.”
 
Using standardized processes and systems leads to a competitive advantage for best-in-class companies. Every project is unique, but if a business can draw on the best practices and lessons learned from similar projects and bring together teams of staff trained on a standard process, even during the bid phase, then more profitable business is sure to result. Employees can focus on delivering the project rather than establishing process and systems from scratch each time.
 
“High-performing organizations provide consistent and continuous training and development for project managers to enhance organizational success.”
 
Providing regular training and growth opportunities for project managers, alongside the standardized systems and processes, means staff have easily transferable skills and can move between the different projects run by an organization. This provides opportunities and a clearly identified path of success within the company.
 
“It is crucial for organizations to align projects with broader business strategies and position project, program and portfolio management as key business drivers for organizational success.”
 
With constant pressure on margins, for many businesses just one bad project can wipe out the profits made from several successes and make corporate strategies difficult to deliver. Increasingly Risk Managers who have visibility and responsibilities at project, program and portfolio levels, have a strategic role to play and can act as guardians for broader business strategies, ethics and standards. So it’s important that organizations know exactly what makes a great risk manager.
 
There’s no question that successful projects and programs need not only the right skilled professionals, but also the appropriate tools to manage the risks to their projects. Want to learn more? Click here to read about the award-winning Skanska M25 road widening mega-project – an example of a well-executed multi-faceted, billion dollar+ project that delivered ahead of schedule and received numerous accolades for its project and risk management strategy.

Leave a Response

*
*