It’s easy to get caught up in project management and feel as if you’re trying to catch the wind.
As a project manager, you must stay on top of ever-changing objectives. You’re in charge of a team with continuously shifting duties and priorities. The availability of resources is constantly changing.
Project management software and technologies assist organisations in project management by providing a central repository for all project documentation, promoting team collaboration, and tracking project progress.
We’ve shared the most up-to-date statistics about the project management sector in this post.
Content Outline
Top Project Management Statistics & Trends 2024
1. PM is 28 times more productive in organisations that use it than in organisations that don’t. (CIO)
Organizations that use PM strategies have a 28 percent higher chance of meeting their business goals.
This emphasises the need of project managers putting in place the required steps to boost project productivity.
2. Poor project management planning results in a waste of 11.4 percent of corporate resources. (PMI)
It’s no longer acceptable to treat project management as an afterthought.
To maximise resource management and cut costs, project managers must plan for every possible outcome.
The appropriate strategy will result in a more ordered and efficient working approach, helping project managers to prevent waste.
3. Ease of integration, usability, and reliability are the top three critical aspects for PM software success. Despite this, 73 percent of firms believe that present solutions are insufficient to meet these requirements. (Hive)
Many people are aware that project management software can boost efficiency in various project management duties.
The three most important aspects for PM software success are integrations, ease of use, and reliability.
Unfortunately, for 73 percent of firms, current solutions do not match these requirements.
To put it another way, there is still a lot of room for growth in the PM software industry.
4. Only 46% of the firms questioned believe that a culture that prioritises project management is critical. (PMI)
In business, there are numerous priorities, and PM is not yet one of them.
Only 46% of the firms polled believe that creating a culture that prioritises the PM is critical.
Other factors that come before project management for these businesses include organisational structure, leadership, and business strategy.
5. The percentage of companies that use project management software is 5.23 percent. (Wellingtone)
It’s alarming to see that only 23% of businesses employ project management software.
“How many firms grasp the benefits of having strong PM software and use the proper software,” this raises the issue.
6. As many as 67 percent of businesses that claim PM isn’t necessary fail. (PMI)
This is a fascinating statistic that shows the long-term consequences of individuals who do not use project management.
According to recent research, as many as 67 percent of businesses who claim project management is unnecessary fail.
7. 52 percent of survey respondents are dissatisfied with their company’s present project management arrangements. (Wellingtone)
Those responsible for the day-to-day management of software projects may face a variety of difficulties.
According to the latest poll results, 52 percent of respondents are dissatisfied with their company’s present project management arrangements.
Many employees are aware of the advantages of using project management approaches, but they are unable to do so due to a variety of obstacles.
8. Up to 33% of project management professionals did not have their organization’s (full) approval to purchase project management software. (Hive)
It can be difficult for project managers to pick which tools to utilise, especially when the project budget is a worry.
According to the findings of a recent survey, up to 33% of project management professionals faced numerous objections while making the decision to invest in project management software.
It’s difficult to do your work without the necessary tools, yet that’s exactly what a third of project managers are facing.
9. According to 80 percent of project managers, having good project management portfolio management is critical to influence important decision-makers. (Axelos)
One of the most important factors influencing key decision-makers is a PM portfolio.
Having a project management portfolio, according to 80% of those polled, is critical to influencing the people who matter.
PMs must be able to display their work and the outcomes in a clear and intelligible manner.
This makes it easy for higher management to make better decisions about the PM and the benefits of giving various initiatives the green light.
10. Project management software is viewed with scepticism by up to 44% of managers. (Hive)
When it comes to the advantages of PM, not everyone is convinced.
In fact, according to a Hive poll, as much as 44 percent of managers believe that PM software is unnecessary.
This lack of belief might impede a company from adopting and reaping the benefits of a project management system.
11. When it comes to resource planning, 11.35 percent of project managers still utilise Microsoft Excel. (Wellingtone)
Microsoft Excel, the ubiquitous spreadsheet programme, is still in use as a project management tool.
According to the findings of a recent poll, up to 35% of project managers still use Microsoft Excel to plan the resources they’ll require for their projects.
While it is a useful tool, it was not designed with project managers in mind and is frequently insufficient to meet all of the project manager’s demands.
This is particularly true when it comes to larger initiatives.
12. In the United States, there are 1,279,290 project managers. (Source: Bureau of Labor Statistics of the United States of America)
In the United States, more than a million people work as project managers.
This indicates that project management specialists are in high demand, which is a strong motivator if you’re thinking about pursuing this career path.
13. In January 2021, a project manager earned somewhat more than $66,000 per year. (Glassdoor)
In January 2021, a project manager’s average compensation was roughly $66,000.
Whether the pay is too much, too little, or just right is a matter of personal judgement.
Some argue that this is a lot of money for a profession that doesn’t always necessitate a bachelor’s or master’s degree.
Others, on the other hand, argue that the PM wage is inadequate in comparison to the amount of work they must complete.
This value varies depending on where you live, the size of your business, and the industry you work in.
14. A career roadmap is provided by 61 percent of all firms that employ project managers, with 47 percent of them having a clearly defined and unambiguous path to advancement. (PMI)
Project managers, like any other employees, need to advance their careers.
According to a recent poll performed by PMI, 61% of firms that employ project managers provide a career roadmap for their PMs, with 47% of them providing a clear path ahead in the roadmap.
This is wonderful news because it indicates that there is room for advancement in this role.
15. Project management professionals make 22% more than those without the credential. (PMI)
If you want to succeed in the field, you’ll need to be a PMP (project management professional).
Professionals with project management certifications make 22% more than those without any credentials, according to PMI.
The proper professional will often add great value to the organisation and will be able to handle larger tasks with better results.
Conclusion
Project management is a skill that may be improved through training and certification in a variety of businesses.
While there are both success and failure statistics for project management, it usually comes down to firms making the correct option when it comes to hiring.
