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31 Essential Project Management Statistics of 2024

Project management offices may seem like an overhead to some, but most organizations understand the risks associated with running projects without project management.

Scroll down to discover how project management shapes project success, project failure, project teams, project managers, project cost, resources, and productivity with the help of 26 latest project management statistics.

Key Project Management Statistics

• Only 58% of organizations fully understand the value of project management.
• 77% of high-performing projects use project management software.
• Only 2.5% of companies complete their projects 100% successfully.
• 18% of projects fail because of outdated project management software
• 39% of projects fail due to lack of planning, inadequate resources, and insufficient work activities.
• 70% of project professionals in SMBs have no certification; most (small, medium, and large) organizations employ a project manager based on experience.
• 46% of project leaders say completing projects on time is their biggest challenge.

Project Management Statistics: Industry-Wide Assessment

1. 93% of organizations abide by standardized project management practices.

(Project Management Institute)

As much as 93% of organizations realize that embedding consistent, standardized project management practices reduces the risks and leads to better outcomes.

Still, almost 70% of them limit following any popular project management methodology. In fact, project management statistics indicate that only 58% of organizations fully understand the value of project management.

2. High-performing companies are more likely to establish project management processes than low-performing ones (95% versus 84%).

(PM Solutions)

High-performing companies successfully complete 80% or more of their projects. On the other hand, underperforming companies complete only 60% or less of their projects.

That said, compared to low performers, high performers are much more likely to have had project management processes in place for five years or more (24% versus 49%).

In terms of cost savings per project, on average — the high performers save US$ 125K/project, while low-performers save — on average — US$ 8K/project (same initial investment).

45% of high-performing organizations are involved in professional services and information industries, while low-performers are more likely to operate in finance & insurance (20%), manufacturing (16%), and healthcare (16%).

Moreover, high-performers show 4x more productivity than the low performers (32% versus 8%).

3. 56% of project managers are somewhat or very dissatisfied with the current level of PM maturity

(Wellington)

When it comes to the department’s project management maturity level, over 67% of respondents (300 subjects reviewed) say their current project management maturity is level 3 or higher (out of 5 levels).

On the other hand, in terms of organization-wide project management maturity level, only 40% believe the level of maturity in their organization is three or higher (out of 5).

Project Management Failure Statistics

4. if management takes five hours or more to make a decision, the project’s failure rate increases by 22%..

(Scrum Inc)

The Scrum project management failure statistics report 47% of Agile Transformations fail because of poor Scrum implementations (77% of all Agile Transformations are Scrum Transformations).

The reason: decision latency.

Companies could tackle decision latency with an effective Scrum tool and Executive Metascrum event that prioritizes all initiatives before doing anything useful.

Meanwhile, you will have to ensure that your organization has Agile leaders with certifications capable of making decisions quickly and confidently among the executive key stakeholders.

A report based on 10,000 agile projects indicates the decision latency to be directly proportional to the project success rate — independent of the process.

These time management statistics reveal that the project success rate is 68% when the decision latency is less than an hour. At the same time, there is an 82% likelihood of project failure if the decision latency is five hours or more.

And while these are the Scrum Transformations project fail rates, decision latency influences all types of projects . For example, according to ScrumInc, the project failure rate due to decision latency of five hours or more is 22%, while there is a 53% likelihood of the project producing unsatisfactory results.

5. More than 50% of all projects suffer from some scope creep.

A scoping document helps organizations with a defined methodology and risk management.

Nevertheless, only 60% of organizations mostly or always create a scoping document using reliable project management software . Conversely, almost 25% of project leaders sometimes or never create a scoping document.

Comparing these both — companies with scope management report 33% of their projects experience scope creep , while companies without project scope management experience scope creep with 66% of projects.

Moreover, as much as 39% of organizations sometimes or never create a baseline schedule. Given these project failure statistics, it is not difficult to see why 50% of them couldn’t follow the project objectives on time.

6. Only 1 in 3 organizations have high-benefits realization management maturity.

Another project management statistics report from PSI Solution estimates that only 1 in 10 organizations have high maturity with their value delivery capabilities.

Nevertheless, the Project Management Institute sets the bar high. It reports that almost 33% of organizations achieve their larger tangible goals with individual projects, while 67% still manage projects based on traditional outputs like time, scope, and budget.

Meaning roughly ⅔ companies do not track whether their individual projects are helping their organization achieve its strategic goals in the long run or not.

7. 9.9% of every dollar is wasted due to lacking project performance

Compared to 2013, it is a 27% decrease in terms of money organizations lose because of poor project management practices. Still, as of 2021, organizations with poor management (60% or fewer projects being completed on time and budget) lose $99 million for every $1 billion invested.

On the contrary, project management success statistics report from PMI shows that companies that complete 80% of their projects on budget and on-time waste only 1.4% of every dollar.

8. 18% of projects fail because of outdated project management software

An outdated, inflexible PM software increases the odds of project details being overlooked or misunderstood. This leads to bad project management and poor resource management — and thus project failure.

Today, even the free CRM tools can report generation capabilities, app integration features, and sheer customizability. And produce far more relevant details than outdated project management systems. Imagine what your organization can achieve with a reliable CRM tool or business management software .

Project Management Statistics: Benefits of Project Management Software

9. 77% of high performing projects use project management software.

Wellington’s project management software market statistics report that almost 97% of organizations believe that project management is critical to business performance and organizational success.

Yet, only 22% of organizations use PM software, although studies suggest that PM software increases performance and satisfaction commercially available.

Nevertheless, 66% of project managers say they would use PM software if they had approval from their organizations. At the same time, 44% of project managers are not likely to use project management software.

10. The project management software market is likely to register a CAGR of 10.67% during the forecast period (2020 – 2025).

(Research and Markets)

The project management software market was valued at US$5.37 billion in 2020.

And it is expected to grow at a CAGR of 10.67%, envisioned to reach US$9.81 billion by 2025, owing to the increased usage of PM software to manage resources and rising demand for risk management practices.

Additionally, the digital transformation has forced the industries to incorporate real-time dashboards to manage projects anywhere, anytime. Especially since the pandemic, most project professionals are adopting dependable web-based project management software , given the ever-demanding need for optimal functionality, remote team communication, productivity, and flexibility.

11. Jira leads the project management software market, with 41.96% of organizations utilizing it.

(Datanyze, Medium)

The global market size of the project management software industry is 118,477 companies.

Jira dominates the project management industry, with over 63,578 (41.96%) teams relying on Jira for successful project management.

Microsoft Project is the second most popular project management tool in the project management software industry, with over 22,940 (15.46%) companies using it. Kanban is employed by 8,152 (5.38%) teams across the world.

Airtable, Smartsheets, and Asana are used by 4.96%, 4.58%, and 2.98% of organizations respectively.

12. 75% of project managers believe their PM software will lead to bad project management

(Digital.ai)

The PM software project failure statistics report from Digital.ai indicates that 73% of project managers believe their PM software does not have reliability, ease of use, and ease of integration — and suggest looking for these three attributes while investing in project management software.

13. Over 100,000 companies across the world use Monday.com to manage their projects

(Monday.com)

Used by over 100,000 companies around the world, Monday.com is one of the best all-around project management tools that provide a visual and collaborative space for teams to plan, organize, and track project progress.

Its versatility, scalability, affordable prices , and impactful feature set are only some reasons why companies like Adidas, Samsung, Uber, and WeWork use Monday.com to manage their teams.

14. 4.96% of all organizations including Uber and Pinterest use Asana to manage their projects

Known for its ease of use, simplicity, and Kanban-style user interface, Asana is used by 4.96% of organizations worldwide. Its Agile and Scrum support, team communication markers, versatility, and ability to integrate over 100 third-party tools are the reason why 11,434 companies including Uber, Airbnb, and Pinterest use Asana to manage their projects and teams.

15. Over 200,000+ teams use ClickUp to stay on track.

(TechCrunch)

ClickUp is used by companies like Google, Nike, Uber, Airbnb, Netflix, and Ubisoft to keep track of all projects and manage their teams efficiently via its extensive lists of features.

16. 20,000+ companies spread across 140 different countries use Wrike for collaborative work management.

(FinanceOnline)

Tailored to help teams, agencies, and professional service providers, Wrike is used by 20,000+ companies.

Some of the notable companies like PayPal, AT&T, Amazon.com, MTV, Capgemini, Ecco, Hootsuite, HTC, Hawaiian Airlines, and Pure storage use Wrike as their project management systems because of its ability to deliver real-time analytics.

17. TeamWork is most often used by companies with 1-10 employees and 1-10 million dollars in annual revenue.

Regarded as one of the best services for managing projects by tech critics, Teamwork is used by 0.56% of all organizations. Computer Software (15%), Marketing and Advertising (11%), Information Technology and Services (10%), the Internet (10%), and Hospital & Health Care (9%) are the largest industries that use TeamWork for cloud-based project management.

Project Planning Statistics

18. 39% of projects fail due to lack of planning, inadequate resources, and insufficient work activities..

(Tem Gantt, nTaskManager)

Only 50% of project professionals create a baseline schedule to track the performance of their project team.

Even the ones that create a project baseline schedule rely on incompetent planning tools like Microsoft Excel, PowerPoint, and Word to manage project plans.

For instance, a Gantt chart made via advanced Gantt project management tools is more interactive than Gantt charts created in Excel.

19. 60% of project managers use hybrid methods to deliver their projects.

(Rebel’s guide to Project Management)

A mix of predictive (like the waterfall) and iterative (like Agile) methods, hybrid project management methodology is the most common delivery approach among project professionals.

And one of the primary factors contributing to hybrid’s rising popularity is the increase in uncertainty and complexity of projects.

The project management statistics from Pulse of Professional 2018 report indicate the proportion of projects with uncertainty and level of complexity has risen from 31% in 2013 to 41% in 2018.

20. Almost 40% of project teams are made of 6 to 10 people.

(Rebel’s Guide to Project Management)

30.5% of teams have five or fewer team members, while the rest 30% of teams have ten or more members.

So, the trend among project professionals is to have enough members to share responsibilities with, but not too many to lose the personal touch of engaging with the team.

However, managers prefer to keep their teams small. Nearly 60% of project managers run 2-5 projects simultaneously, while only 19% identify themselves as ’experienced’ to run more than one project.

Project Management Performance Statistics

21. only 2.5% of companies complete 100% of their projects successfully..

The project management stats based on over 10,000 projects from 150+ companies reveal that successfully completing your projects will rank you in the top 3% of best-performing organizations globally.

That is to say; most organizations do meet their initial business intent.

The significant drivers responsible for 97.5% of failed projects were change in organization priorities (39%), change in project objectives (37%), and lack of vision (29%).

22. 50% of projects fail because of communication breakdown.

(Project Management)

PM.com’s project management stats based on 102 companies in different industries found that 75% of teams do not report organizationally.

Given that most companies employ numerous teams on a single project, managers say that 59% work in separate groups. And 21% of teams are engaged by different companies.

In addition, only 15% of project professionals report that their projects are led by a team working in the same building; the other 85% of organizations outsource a part of a project to multiple project teams. As a result, 77% of teams work in different cities, while 49% collaborate from other countries.

Under such circumstances, it is not troublesome to see why most projects fail due to a lack of proper communication. For this reason, one of the proven project management practices is to have appropriate team collaboration tools in addition to incorporating reliable project management software.

Project Management Statistics on Project Timelines

23. project management software saves the average employee 498 hours per year..

(PMI’s Pulse of Profession)

The project management success statistics indicate that workflow management software saves the average employee 498 hours per year. In addition, almost 49% of organizations with project planning software say the tool helps them estimate project costs accurately.

Not only this, companies having a project management system complete 66% of their projects within the allocated project budget. On the contrary, organizations without a project management system complete only 47% of projects within the project budget.

24. Almost 50% of project professionals spend a day or more each month manually collating project KPI reports

Wellington’s project failure statistics report indicates 54% of organizations do not have access to real-time project KPIs and rely on manually collating project reports.

Today, almost any business intelligence software can help an organization stay on track by keeping the individuals accountable, providing additional training to underperformers, and giving insightful performance indicators.

Yet, most organizations do not have effective technology to collaborate and manage project resources.

25. 46% of project leaders say completing projects on time is their biggest challenge

(Wellington’s The State of Project Management Survey)

Setting clear deliverables, setting real deadlines, active involvement of team members and stakeholders is all it takes to meet project deadlines.

Yet, almost half of the project leaders say that time is the scarcest resource; in fact, time tracking is the second most-requested project management feature across organizations.

Wellington’s State of Project Management report states that only 40% of projects are completed on time. While only 36% of projects completed within the deadline mostly or always deliver full benefits.

Project Management Office (PMO) Statistics

26. 89% of organizations have at least one pmo (project management office), but only 45% of staffers have a project management professional (pmp)® certification..

Even 30% of organizations without a PMO are likely to implement one soon. So yes, considered a luxury a decade ago, PMO has become vital for organizations.

In fact, regarded as a strategic resource, most PMOs report to the Vice President or higher; 49% to the C-level executives.

There is also a direct correlation between the PMOs age and their capabilities, as high-performing companies are likely to have project management offices — on average — older than the underperformers (ten years to five years).

As of 2016, 45% of PMOs are five years old, while 20% of them are two years or less old.

27. 51% of PMOs say their biggest challenge is demonstrating the value-add a PMO represents

A project management statistics based on 212 respondents report that almost all PMOs face more than one challenge.

But processes seen as overhead was the most prominent challenge of PMOs; as much as 51% of organizations surveyed report processes seen as overhead as their biggest challenge.

At least half of the PMOs were challenged with inadequate resource management capability. Resistance to change was faced by 47% of project management offices, and evolving/changing to meet organization needs was faced by (43%).

Again, project management offices in low-performing companies face more challenges than the PMOs in high-performing organizations (57% vs. 18%).

28. 44% of PMOs agree that their roles and responsibilities are clearly defined

Whereas 25% of PMOs state their roles are not clearly defined. Out of the many roles and responsibilities, project status reporting is shared by 80% of PMOs.

Portfolio management is standard among 65% of PMOs. And facilitating the post-project benefit tracking is the least shared responsibility and is a common practice among only 18% of PMOs.

Project Management Training Statistics

29. 49% of organizations have a project management training program in place..

49% of organizations invest in accredited project management training. 20% sponsor non-accredited project management training, and the rest, 31% of organizations, do not have any project management training program in their organizations.

30. 70% of project managers in SMBs have no certification; plus, most (small, medium, and large) organizations employ a project manager based on experience.

As per another Capterra project management survey, only 56% of project managers have a PMI certification.

About 75% of organizations see PMI certification as an advantage but do not consider it essential. That is to say, only ¼ of firms employ a project manager who has a certification.

Even at the most reputable organizations like IBM — only 56% of project professionals hold a PMI certificate. Most organizations appoint a PM on the basis of experience.

Wellington’s project management stats based on 300 companies indicate that 60% of project managers have 11 years or more of experience, 21.4% have 6-10 years of project management experience, whereas 13% have five years or less experience.

It is consequential to realize that as much as 80% of successful projects involve project managers with formal training and a PMI certificate.

31. A poorly trained project manager is the largest project management challenge in organizations.

More than 30% of organizations report that having poorly trained project managers is one of the prominent project management challenges they face.

Consequently, the demand for project management skills and the availability of talent continues to persist. As much as 51% of organizations say they will hire project managers with a certificate only.

Furthermore, the global economy needs 25 million new skilled project professionals by 2030, meaning 2.5 million people will have to enter project management-oriented employment every year.

Use These Project Management Statistics to Future-Proof Your Projects

These are not just the latest project management statistics that a project manager should know. Instead, as a project manager, you should use these insights to polish your project management processes.

For instance, it must be clear to you that organizations that undervalue project management report more failed projects than organizations following standardized project management practices.

Plus, organizations using project management software have more successfully completed projects than ones that undervalue project management software.

But above all, these project management statistics reveal the relationship between project management processes and project success or project failure rate.

Meaning incorporating effective project management can avoid poor project performance and increase the project success rate in your organization.

• Wellington, 2020
• Project Management Institute
• PM Solutions, 2016
• PMI’s Pulse of Profession
• Wellington, 2018
• Research and Market
• Rebel’s Guide to Project Management
• nTaskManager
• Project Management
• PM Solutions, 2020

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

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Top project management statistics

Project management can often feel like trying to catch the wind.

As a project manager, you keep up with ever-changing goals. You manage a team with tasks and priorities that are constantly shifting. The availability of resources is always in flux.

Here at monday.com, we’ve put together a breath of fresh air for you: hard project management statistics. Our extensive surveys have turned up knowledge that’s as close to 100% reliable as you can get in the project management world.

In this article, you’ll learn what project management looks like across the economy, how people put it into practice, and what tools those people are using.

Without further ado: the ultimate list of project management statistics for 2023.

Don’t miss more quality content!

What’s the state of project management today.

This section will give you a 10,000-foot overview of what project management looks like at the beginning of this year.

Of course, there’s been a lot of change. But some things might be familiar. And some things came as a surprise, even to us.

Project management practices are catching on, but there’s more work to do

• The demands on project managers are increasing. A project manager today is asked to not only launch innovative products, but also take responsibility for updating internal processes. As a result, 4 out of 5 project managers report that they can’t get by without project portfolio management.
• Unfortunately, project management systems aren’t maturing at the same rate. Only 35% of project managers surveyed in 2020 were “somewhat or very satisfied” with the systems in place. Despite the importance of PPM, only 61% apply a defined project management methodology to each project.

( Image Source )

• Why? Project management maturity isn’t valued. Only 46% of organizations make project management a cultural priority — despite statistical proof that a mature project management process makes an organization far more likely to deliver on time and under budget.
• PM software offers untapped growth potential. Currently, just under 1 in 4 organizations use any kind of project management software. The rest are working with Excel, paper, or a patchwork of tools with sub-optimal integration. As a result, 54% of organizations lack the ability to track KPIs in real-time.
• And the stakes couldn’t be higher. Across all organizations, 11.4% of all resources are wasted due to inferior project management processes. Surveys suggest that organizations who fail to properly integrate project management into their strategies will see their outright project failure rate increase by a factor of 2/3 .
• But there are positive signs. 89% of organizations now have at least one project management office (PMO), and 50% have more than one. In addition, 71% of PMs surveyed believe the perceived value of their role is increasing, up from 55% in 2019 .
• These offices are busy. 59% of project managers run between 2 and 5 projects. 11% run 6 to 10 projects, and 15% run more than 10 at a time. Only 15% of project managers work on only one project at a time.

Hopefully, as more companies invest in project portfolio management, we won’t have to learn so many of these lessons the hard way.

Intelligent project management is needed more than ever

• Repetitive tasks are eating our productivity alive. A monday.com survey found that 54% of workers spend 5 or more hours per week on tedious tasks that require little or no creativity. For 16%, it’s 10 or more hours.

Data entry is the biggest culprit, with almost 1 in 4 describing data input tasks as their biggest time suck.

• Our co-workers also bear some of the blame. 41% of workers reported that message notifications from email, Slack, and other platforms were a major obstacle to getting work done. 20% described email overload as a serious problem.

All that tedium takes a toll. 57% of workers reported that they’ve begun to feel the symptoms of burnout. 30% report feeling less creative than they used to be, and a whopping 63% don’t think they’re getting enough chances to do their best work.

• Artificial intelligence will change the game — but not yet. Globally, 85% of CEOs believe that AI will “significantly” impact their business in the next five years. 63% agree or strongly agree that AI will make a bigger difference to business than the advent of the internet.

As we saw above, 54% of workers believe they could save at least 5 hours by automating their most menial tasks. In spite of this, however, 58% of CEOs have not implemented any kind of AI in their business, likely due to the difficulty of finding employees qualified to put it in place.

Project management is a growing career

• Companies are committing to training project managers. 61% of organizations provide some form of project management training, while 47% have gone the extra mile and established a clear path for developing PM careers
• As a PM, you’ll do a little bit of everything. The top 6 activities conducted by PMOs are project status reporting, maintaining portfolio lists, maintaining project management methodology & templates, facilitating project approval processes, providing project management expertise, and facilitating lessons learned.

• Certification remains extremely important. On average, a PM who’s received a project management professional (PMP) certificate of some form will make 22% more money than a PM who hasn’t been certified. Just over half of the companies surveyed said they require candidates to be PMP certified in order to fill PM roles.

How are projects being planned?

• Companies love Agile project management , but they adopt it piecemeal. Research suggests that the most popular Agile innovation among businesses today is the daily standup, used by 85% of respondents . Runners-up include retrospectives (81%), sprint planning (79%), sprint review (77%), and short iteration cycles (64%).

Across a range of organizations that are seen as innovators in PM technology and practices, 53% employ at least one Agile methodology technique.

• The trend is to keep teams small. 30.5% of project teams have 5 or fewer members. Another 39% have between 6 and 10 members, leaving only 30.5% with more than 10 employees.
• More PMs are seeing the value of baseline project schedules. Almost half of organizations stated that they “mostly or always” start each project with a baseline schedule. They use those schedules to assess the project’s performance, discovering where resources need to go and where improvements have to be made.
• But there’s also an increasing awareness of the importance of change. KPMG’s study of project management in Australia demonstrated that two-thirds of organizations engage in some form of project change management.

Change management provides teams and companies with a controlled way to execute changes to a project plan , make changes intelligently, and keep all stakeholders informed.

How do you create a project budget?

Surprisingly, the first step is empathy. 91% of CEOs — as clear a consensus as we found anywhere — believe that the ability to empathize with colleagues, subordinates, and customers directly influences a company’s financial performance. The more you view your problems as people-problems, the more baseline revenue you’ll have to budget with.

• Going over budget is an epidemic. Only 43% of companies reported that they “most of the time” or “always” complete their projects within the established budget.

Even worse, a substantial number of respondents reported that they don’t track their budgets at all. Can’t go over budget when you don’t have a budget, right?

• Higher budgets are correlated with a greater failure rate. Unfortunately, there are real consequences to going over budget or failing to track your spending.

Counter-intuitively, research reveals that spending more on a project can actually mean it’s more likely to fail. Projects where the company spends $1 million or more fail 50% more often than projects where $350,000 or less is spent.

Undoubtedly, some of this comes from lower-budget projects tending to be simpler and lower-effort than high-budget projects. However, it’s also true that heavy spending to fill serious gaps is the first sign that a project is headed for failure.

Speaking of project failure, let’s examine some other signs that a project might be doomed.

How many projects will fail?

If teams and leaders take an average of 1 hour to make any decision, projects succeed at a rate of 58% . When that time increases to 5 hours, the project success rate drops to 18%.

• Black swan events like COVID-19 play a role. 58% of organizations said that the coronavirus pandemic had a “moderate or significant” impact on their operations, forcing them to delay or cancel projects.
• In the end, though, it comes down to processes. Companies who build strong project practices enjoy a whole host of benefits.

Compared to companies without mature value-delivery processes, they’re more likely to meet their project goals (77% vs. 56%), stay within budget (67% vs. 46%), and deliver on time (63% vs. 39%), and less likely to suffer scope creep (30% vs. 47%) or outright project failure (11% vs. 21%).

What will happen to project management software?

• The best way to reap the benefits of project management is to use PM software to organize your processes. However, fully one-quarter of project managers report that they do not have access to software dedicated to project communication, despite that being one of the most important factors in keeping decision latency low — and chances of success high.

Remember how we said earlier that only about 23% of businesses were using a dedicated project management solution? They’re missing out on key benefits, of which communication tools are just one example.

• The software already exists to influence every aspect of work for a project manager. While building monday.com, we did extensive research to see what our customers were looking for.

We came away with some interesting data. 91% of our users said they listed their project tasks on a board. 88% said that their job frequently involved re-prioritizing and updating their tasks, while 70% spent a lot of time keeping track of deadlines and milestones. And 42% were trying to do all of this in a spreadsheet.

• As PMs ourselves, we felt the pain of that last part. So we built monday.com to be able to do all of those things and more. Check out any one of our 200+ templates — like our cross-department project tracker — to see how that works.

What’s next?

As we start 2022, the project management statistics reveal a vibrant, growing set of practices — but one that still has a long way to go.

We predict the gap between companies that establish project management practices and those that throw caution to the wind will only grow. If you’re looking to enhance your chances of project success by exploring project management software , the best time to start is right now.

Explore the monday.com Work OS today to see what it can do for your project management office.

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Project management statistics: 45 stats you can't ignore.

• Project management adoption statistics
• Project management office (PMO) statistics
• Project management practices statistics
• Project management performance statistics
• Project management training statistics

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Originally published February 2019, updated September 2022

As we step into 2022, what project management statistics should you be aware of? How is the PM field changing? We've compiled all the latest data in this article.

The field of project management is changing, and it’s changing fast. New tools, techniques, and frameworks are disrupting entrenched players and undoing long-held beliefs.

To prepare for these changes, you first need to arm yourself with hard facts. What is the exact rate of project failure? What are the underlying causes of failed projects? What makes for successful PMOs? And what kind of PM tools best fit your needs?

To answer these questions, we’ve compiled a comprehensive list of the latest project management statistics. With more than 50 data points culled from dozens of studies, this page is your de facto source for all things related to project management statistics.

Jump to one of the sections below to find relevant stats.

Project Management Adoption Statistics

What is the adoption rate of project management software across organizations? How do companies use formal training programs? What kind of PMOs do organizations employ?

Find answers to these questions, and more, below.

• Only 58% of organizations fully understand the value of project management. ( PMI )
• 93% of organizations report using standardized project management practices. ( PMI )
• 68% - more than 2/3rd - of organizations in PMI's annual survey said that they used outsourced or contract project managers in 2018. ( PMI )
• Only 23% of organizations use standardized project management practices across the entire organization. 33% use standardized practices, but not across all departments. While a small portion - 7% - of organizations don't use any standard practices at all. ( PMI )

Organizations are often guilty of not using standardized PM practices, especially across the whole organization

• PM software adoption remains low. As per Wellingtone's survey, only 22% of organizations use a PM software. Coincidentally, 55% of organizations don't have access to real-time KPIs. As a result, 50% of respondents said that they spend one or more days manually collating project reports - highlighting the immense productivity gains on offer by using project management software. ( Wellingtone )
• PM software adoption is changing, slowly but surely. Between 2017 and 2018, the percentage of organizations using spreadsheets to manage their agile projects dropped from 74% to 67%. Instead, these organizations moved to specialized PM tools. ( VersionOne )
• 77% of high-performing projects use project management software. Despite its impact, adoption rates for PM software remain low (22% - see above). 66% of project managers say that they would use PM software more extensively if they had adequate support from their organization. ( Hive )
• File sharing, time trackin g, email integration, Gantt Charts , and budget management are the top five most used and requested features in project management software. ( Capterra )

As this chart shows, social media and video chat are among the least-used PM features

• 56% of organizations have used only one project management system. On average, organizations spend $861/month on PM software. A majority - 54% - use on-premise PM software, though this is quickly changing. ( Capterra )

Project Management Office (PMO) Statistics

As we wrote earlier, creating a project management office (PMO) can drastically improve productivity and bring greater clarity to your PM processes.

As these project management statistics show, creating a PMO can have substantial real-world benefits:

• Only 41% of organizations with an enterprise-wide project management office (EPMO) report that it is highly aligned with the organization's strategy. ( PMI )
• PMO and EPMO: 80% of high-performance organizations - Champions - have a PMO. 72% say that there is a strong alignment of the EPMO to their organizational strategy. ( PMI )
• Project management offices remain more popular among larger firms. 95% of large firms (>$1B revenue) reported having dedicated PMOs, either in specific departments or across the entire organization. In contrast, only 75% of small firms (<$100M in revenue) had dedicated PMOs. ( PMSolutions )

• The value contributed by PMOs is on the up. In 2016, PMOs delivered a 33% improvement in projects delivered under budget, 27% improvement in customer satisfaction, 25% increase in productivity, and 25% reduction in failed projects. Altogether, PMOs led to $175k cost savings per project. ( PMSolutions )
• PMOs are growing in both sizes (by budget and staff) and importance. In 2016, the average PMO accounted for nearly 5% of the project budget and had a staff size of 9. 49% of project managers report to the PMO (up from 42% in 2012). Incidentally, high-performance organizations had a far higher percentage of project managers reporting to the PMO than low-performing organizations - 68% vs 53%. ( PMSolutions )
• It's not always a rosy picture for PMOs. 50% of respondents in a survey said that their biggest challenge is that PMO processes are seen as overhead. 42% said that their organizations are resistant to change and adopting new PM methodologies . 41% said that their biggest challenge is demonstrating the added value of the PMO. ( PMSolutions )

Project Management Practices Statistics

Project management practices are rarely uniform across organizations. Different practices also yield variable results for different businesses.

In these project management statistics, we’ll look at the adoption of different PM practices:

• Risk management practices are widely used across most organizations - 27% say they 'always' use them, while 35% use the 'sometimes'. Only 3% of surveyed organizations say they 'never' use risk management practices. ( PMI )
• Senior executives are often far more aware of the value of project management than rank and file members. Among senior leaders, 87% say that they "fully" understand the importance of PM practices. ( PMI )
• Only 32% of organizations say that they're satisfied with their current PM maturity level. 67% would rank their department's PM maturity level at 3 or more (out of 5 levels). However, only 47% would rank their organization-wide PM maturity at level 3 or higher. This shows that there is a significant divide between department-level PM maturity and organization-level maturity. ( Wellingtone )
• Strong support is a key ingredient of project success. In PMI's 2017 survey, 62% of successfully completed projects had sponsors who were actively supportive. 78% of respondents in a Geneca survey also said that they'd like business stakeholders to be more responsive and engaged in the project. Another study found that 33% of projects fail because of a lack of involvement from senior management. ( PMI , University of Ottawa )
• A whopping 97% of organizations believe that project management is critical to business performance and organizational success, according to a PwC study. The same study also found that 44% of project managers use no software, even though using any popular commercially available PM software has been known to improve performance and project satisfaction. ( PwC )
• Businesses say that the biggest impact of project management was on team communication (52%). 44% also said that it improved the quality of the final product, while 38% said that it improved customer satisfaction. 66% of respondents in Capterra's survey also said that they used project management software to communicate with clients. ( Capterra )
• As of February 2019, the average annual base salary for a project manager in the US is $75,474. PMs in the IT sector make substantially more - IT Project Managers take home an average of $97k in base pay. Additional cash components can vary a great deal, ranging from a low of $1,541/year to $19,755/year with an average of $6,473. At this average, the take-home pay for a project manager, on average, is in excess of $80k. ( Glassdoor )

• "Project Management" is a rather fluid role in most organizations. Only 42% of respondents in Wellingtone's survey that this role is occupied by a professional Project Manager in their organization. ( Wellingtone )

Project Management Performance Statistics

What is the average failure rate of a project? Does the failure rate vary by project and industry? Among successful projects, what factors have the biggest impact on success?

We’ll answer some of these questions in the project management statistics below.

• Change in the organization's priorities (39%)
• Change in project objectives (37%)
• Inaccurate requirements gathering (35%)
• Inadequate vision (29%)
• Poor communication (29%).

• Project performance has been rising globally. In 2018, nearly 70% of projects met their original goals or business intent, while nearly 60% were completed within the original budget. Both these figures are up from 62% and 50% respectively in 2016. ( PMI )

• Compared to 2017, 71% of organizations reported a lack of funding as their top project management challenge, while 49% more organizations reported an inconsistency in approach. ( Wellingtone )
• IT projects are notoriously difficult to manage. A survey published in HBR found that the average IT project overran its budget by 27%. Moreover, at least one in six IT projects turns into a "black swan" with a cost overrun of 200% and a schedule overrun of 70%. In other words, while most IT projects will fall short of their budget targets, a few might overshoot the targets so much as to cause catastrophic organization-wide problems. KMart's massive $1.2B failed IT modernization project, for instance, was a big contributor to its bankruptcy. ( HBR )
• Poorly training project managers, attempting too many projects, and a lack of project funding are the top three project management challenges in Wellingtone's survey. ( Wellingtone )

• Among IT projects, failure rate corresponds heavily to project size. An IT project with a budget over $1M is 50% more likely to fail than one with a budget below $350,000. For such large IT projects, functionality issues and schedule overruns are the top two causes of failure (at 22% and 28% respectively). ( Gartner )

• A PwC study of over 10,640 projects found that a tiny, tiny portion of companies - 2.5% - completed 100% of their projects successfully. The rest either failed to meet some of their original targets or missed the original budget or deadlines. These failures extract a heavy cost - failed IT projects alone cost the United States $50-$150B in lost revenue and productivity. ( Gallup )
• Investing in proven PM processes and methodologies pays off. According to CIO, organizations that use proven PM practices waste 28x less money than their more haphazard counterparts. ( CIO )
• Rework is a big cause of project failure and a significant source of delays. 80% of respondents in a Geneca survey said that they spend half their time on rework. ( Geneca )
• Poor stakeholder-project manager alignment is a big cause of project failure. Only 55% of people involved in projects - team leaders and project managers - feel that the project's business objectives are clear to them. More than 80% also feel that the requirements process doesn't articulate the needs of the business. And when the project is wrapped up, only 23% of respondents say that project managers and stakeholders are in agreement when a project is done. ( Geneca )
• To give you an idea of the abysmal success rate of most projects, only 40% of projects at IBM meet the company's three key goals - schedule, budget, and quality. ( IBM )
• Among IT projects, project performance varies significantly. While software projects have an average cost overrun of 66%, the same figure for non-software projects is 43%. However, 133% of non-software projects fail to meet their stated benefits, compared to just 17% for software projects. ( McKinsey )

• 17% of IT projects can go so bad that they can threaten the very existence of the company. ( McKinsey )
• Overall, 76% of users say they are either "very satisfied" or "satisfied" with their decision to use project management software. The biggest reason for any dissatisfaction remains price (56%), followed by a lack of features (33%). ( Capterra )
• 64% and 67% of projects with high maturity of PM processes are delivered on time and within budget, respectively. The equivalent figures for low-maturity organizations are just 36% and 43%. ( PMI )

• 83% of high-performance organizations (i.e. 'Champions') make an ongoing investment in project management training. 77% of such organizations have formal processes to develop PM competency. In contrast, only 34% of underperformers offer similar training. ( PMI )

Project Management Training Statistics

A sure shot way to improve project performance is to invest in intensive training. This includes training for PM fundamentals as well as ancillary skills related to project management - leadership, communication, soft skills, etc.

We’ll look at some project management statistics related to training below.

• Soft skills are increasing in importance for project managers. 51% of respondents in PMI's 2018 survey said that soft skills are more important today, while only 19% said that this skill requirement is unchanged. ( PMI )
• Technical and leadership skills remain the most important priorities for top-performing organizations. 81% of these organizations prioritize the development of technical skills (vs 13% of underperformers), 79% prioritize leadership skills, and 70% focus on developing strategic and business management skills. ( PMI )

• Despite low maturity levels, only 48% of organizations have invested in accredited project management training. 15% use non-accredited training or courses, while more than 25% don't invest in any training at all. ( Wellingtone )
• The success of the PMO often lies in its approach to training. 60% of PMOs now have a formal project management training program, up from 11% in 2014. Incidentally, high-performing organizations are far more likely to have a training program than low-performers (85% vs 38%). On average, these organizations spent 5 days per year in training. ( PMSolutions )
• Most PMOs (79%) offer onsite, classroom-based training using in-house trainers. However, a significant - and growing - number (51%) are now relying on external trainers for onsite classes as well. Larger organizations are also more likely to use on-demand, online training. ( PMSolutions )
• High-performing organizations use a variety of PM training strategies. 79% use PM software tool training, 76% offer training on PM basics, 67% offer advanced PM skills development, and 61% offer leadership training. ( PMSolutions )

 Sources:

• State of the PMO in 2016, PM Solutions
• PMI: Pulse of the Profession 2018, Project Management Institute
• Delivering large-scale IT projects on time, on budget, and on value, McKinsey
• Why up to 75% of software projects will fail, Geneca
• Project manager salary, Glassdoor
• Survey shows why projects fail, Gartner
• Project management guide: Tips, strategies, best practices, CIO
• Project management user research report, Capterra
• The cost of bad project management, Gallup
• Why your IT project may be riskier than you think, Harvard Business Review
• 11th annual State of agile report, VersionOne
• The state of project management: Annual survey 2018, Wellingtone
• Making change work, IBM
• PwC global project management report 2012, PwC
• PMI: Pulse of the Profession 2017, Project Management Institute
• A replicated survey of IT software project failures, University of Ottawa

Over to you

There you have it - the complete list of the latest project management statistics, updated for 2022. Use it to understand the project management landscape, benchmark your own success rate, and understand how others are using project management practices and tools.

If you’re ready to standardize your own approach to project management, try using PM software like Workamajig. See how it can benefit you by taking a free demo.

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Project Management Statistics: Trends and Common Mistakes in 2024

Top project management statistics: editor’s choice, general project management stats & facts , project failure statistics, project management statistics & trends, project management performance statistics, frequently asked questions.

Project management doesn’t come cheap—it takes up to 20% of the overall project budget. Running a project without solid management, or bad project management , however, will do more harm than good. 

That’s why we’ve put together the most important project management statistics to help you paint a clearer picture of the PM performance rate but also understand why projects fail, what factors are crucial to success, and more. So, read on to learn all about project management , and most importantly, why you can’t afford to overlook this process.

• 70% of all projects fail. 
• 42% of companies don’t understand the need or importance of project management.
• 55% of project managers cite budget overrun as a reason for project failure.
• The project management industry is set to grow by $6.6 trillion by the end of 2020.
• Stakeholder engagement is the most valuable PM process.
• 62% of successfully completed projects had supportive sponsors.

1. 70% of projects fail. 

The percentage of projects that fail is fairly high—a whopping 70% of all projects fail to deliver what was promised to customers. The implementation of a management process, however, is shown to reduce the failure rate to 20% or below.

2.  Organizations that undervalue project management see 50% more of their projects failing. 

Project management statistics show that in 2018 organizations that overlooked the PM process reported failure of half or more of their projects. This means huge financial losses, along with potential missed business opportunities and lost clients. 

3. 9.9% of every dollar is wasted due to poor performance. 

Nearly every 10 seconds, $1 million is wasted by companies worldwide as a result of the ineffective implementation of business strategy. This results in approximately $2 trillion a year. 

4.  42% of companies don’t understand the need or importance of project management.

The latest project management stats show that 58% of organizations fully understand the value of implementing project management as a way to achieve better performance. This means that 42% of companies undervalue the importance of project management as a crucial component for project success.

5. Projects are 2.5 times more successful when PM practices are implemented.

Undoubtedly, robust project management improves the chances for success, drives cost-saving, and risk reduction. The Pulse project management statistics show that high-performing organizations with proven PM practices in place have met their original goals 2.5 times more often (89% vs. 34%). 

6. Organizations that invest in PM practices waste 28 times less money.

Investing in proven project management practices reduces wasted financial resources by 28 times. This reduction comes as a result of successfully completing a larger proportion of their strategic initiatives.

7. A lack of clear goals is the most common factor (37%) for project failure.  

Setting clear goals helps you to track the milestones and the progress, giving you a clear picture of where you are at the moment. Thanks to this data you can make some tweaks or reinforce the practices that benefit your end goal. 

8. 75% of respondents in the IT industry lack confidence in project success.

IT project failure statistics show that 75% of respondents think their projects are always or usually doomed to fail from the start. Out of this 75%, 27% constantly feel this way. At the same time, the majority of respondents (80%) have admitted to spending half their time reshaping the projects. 

9. 44% of projects fail due to a lack of alignment between business and project objectives.

As software project failure statistics show, the lack of alignment of projects with the business objectives is the reason why nearly half of the strategic initiatives fail. The lack of alignment results in less organizational agility which leaves businesses unable to reach strategic shifts in customer demands, leverage the expected economic growth, and mitigate losses. 

10. 55% of project managers cite budget overruns as a reason for project failure.

Over half of project managers consider budget overruns the main reason for project failure. This is often due to unforeseen events that go beyond human control. Reducing cost overruns systematically, therefore, should be a priority for project managers. Proper planning and good software can help with this.

11. More than half of construction project owners have experienced at least one underperforming project. 

Construction project failure statistics show that over 50% of construction project owners worldwide (and 61% in the US) have seen their projects failing despite the confidence in project planning and controls. They have further reported that only 31% of their projects were delivered within 10% of the budget and 25% within 10% of the original timeframe. 

12. 41% of underperformers say inadequate sponsor support is the main reason for project failure. 

Effective project sponsors provide consistent engagement and support which is crucial to project success. 41% of underperformers and 17% of high performers report inadequate sponsor support as the main reason for failure, according to project management failure statistics .

Organizations with a higher percentage (more than 80%) actively engaged sponsors to have 40% more successful projects than organizations with a lower percentage of projects (less than 50%) with sponsors.

13. Coca-Cola wasted $4 million in development and another $30 million in back stocked products after releasing New Coke. 

The attempt of Coca-Cola to introduce New Coke in 1985 is one of the most popular poor project management examples . Instead of conducting in-depth marketing research, the team administered more than 200,000 taste tests to confirm that the subjects liked the taste of New Coke more than the classic one and Pepsi. As it turned out, consumers hated it and Coca-Cola learned a very important lesson — every project needs proper management. 

14. The project management industry is set to grow by $6.6 trillion by the end of 2020.

By the end of 2020, approximately 15.7 million new project management roles will be created. Along with the job growth, the demand for PM skills will grow significantly and the project management industry size is slated to grow by $6.61 trillion. 

15. Only 22% of organizations use PM software. 

Project management facts show that the adoption of PM software remains low despite the fact that 77% of high-performing projects use it. At the same time, 55% of organizations don’t have access to real-time KPIs. The result is spending more time manually assembling project reports. These stats highlight the huge productivity gains offered by the best project management software.

16. The percentage of organizations using spreadsheets to manage their agile projects dropped from 74% to 67%.

Between 2017 and 2018, the number of organizations that use spreadsheets for project management has significantly dropped. These companies have moved to specialized PM tools and software, as indicated by management statistics.

17. The PM software market is poised to register a CAGR of 10.17% between 2020 and 2025. 

Despite the relatively low usage of project management software, these systems will become indispensable as corporations increase in size and complexity, simplifying the management of workload, resources, and budget. The growing trend of the PMS market will continue to grow, reaching 10.17% CAGR between 2020 and 2025. 

18. Microsoft Project is the leading project management technology. 

Current project management stats put Microsoft Project on the throne. With a 22.74% market share, this project management software product is the absolute industry leader. Jira follows with 19.50%, while Trello comes in third with 5.51%.  

19. 93% of organizations use standardized project management practices.

The only way that goals can be met is through the use of effective processes and techniques. Consistent practices reduce the risk and lead to better results which is why the majority (93%) of organizations use standardized PM practices throughout. 

20. Formal project management brings better results. 

Project management statistics show that 73% of organizations that use formal project management approach always or often have met the goal or intent. 63% have completed the projects within budget and 59% have delivered the projects on time.

By comparison, only 58% of organizations that rarely/never use formal PM methods have met the initial goals, 48% complete the projects within budget, and 43% have delivered the projects on time. 

21. 44% of high-performing organizations use predictive approaches.

Project management facts show how good high performers are at choosing the approach that fits best their needs. 44% of the high performers use predictive approaches, 30% use agile methods, while 23% leverage hybrid approaches. Only 4% of high-performing organizations use other methods. 

22. Multitasking causes a 40% productivity drop. 

According to time management statistics , project managers are crucial to project success. If you try to do everything by yourself, you could see a productivity drop by 40%. 

23. 83% of high-performing organizations have ongoing project management training.

High-performing organizations recognize the benefits of project management training . 81% further prioritize the development of project management technical skills and 79% prioritize the development of project management leadership skills. The project management statistics for low performers in these areas are 34%, 13%, and 11%, respectively. 

24. By 2027, employers will need 87.7 million specialists working on PM-related roles. 

Firms will continue to focus on PM performance improvement to stay competitive and relevant. Accordingly, the need for skilled, trained individuals will continue to grow and by 2027, 87.7 million experts will be working in PM-oriented roles.

25. Nearly 70% of projects met their original goals or business intent.

According to project management success statistics , the project success rate has been improving over the years. In 2016, 62% of projects met the original business goals and only 50% were completed within the set budget. In 2018, these numbers went up to 70% and 60%, respectively. 

26. Poor resource management was the biggest PM challenge in 2019. 

60% of respondents point to poor resource management as their biggest challenge. Other issues included poorly trained project sponsors (33%) ineffective PPM solution deployment (30%), and lack of governance (26%). 

27. Stakeholder engagement is the most valuable PM process. 

Management statistics show that the most critical process to project success is stakeholder engagement. Roughly 50% of the respondents say so. Risk management comes in second with 40%, followed by planning with 35%, and resource management with 25%. 

28. 68% of projects don’t have an effective project sponsor.

A sponsor is an important factor for project success. They aim to provide direction, address specific issues, secure project resources, ensure that the project is on time and on budget, and more. Without such guidelines in place, projects are much likelier to fail. 

29. Risk management practices are widely used across most organizations.

Risk management is one of the most widely adopted practices. Project management statistics show that almost a third of organizations (27%) always use it while 35% use it occasionally. Only 3% of the respondents have said they never use risk management practices. 

30. 62% of successfully completed projects had supportive sponsors.

This stat further emphasizes the importance of having sponsors who are actively supportive. Also, 78% of respondents in the Geneca project management survey have said they would like the business stakeholders to be more engaged in the project.

31. 87% of senior project managers fully understand the importance of PM practices.

Project management statistics show that senior managers are more aware of the value of project management than other members. Among them, 87% have said they completely understand the importance of PM practices. On the other hand, the lack of involvement from senior management is the main reason why 33% of projects fail. 

How does project management improve the success rate of IT projects ?

Project management helps organizations complete projects within budget and on time, and meet the original goals and business intent. Additionally, this practice has a proven track record of positively influencing project realization maturity. 80% of high-performing organizations have reported using project management practices which further highlights this notion. 

How many projects can a project manager manage ?

This can largely vary. Project management time is not done in straight average numbers of hours. There can be an ebb and flow of time requirements—a manager can be occupied full-time during the planning phase and then clock in fewer hours as the project advances. While the number of projects a manager can handle at once can’t be set in stone, the realistic projections would say it’s 4. 

What is the most common cause for the failure of development projects ?

Inadequate project planning is the number one reason for project failure. Project planning is one of the most important responsibilities of a project manager.  This process is vital because without a clear vision the team won’t be able to properly execute tasks and reach the project goal. The Denver International Airport’s Automated Baggage System is one of the best-known examples of failed projects due to poor planning .

What percentage of projects fail ?

70% of projects globally fail. This can be due to many reasons: inaccurate requirements, uninvolved project sponsors, inaccurate estimates, shifting project objectives, and more.

What is the average age of a project manager ?

A survey has found out that the average age of PMs is 42.4. The study also showed there is a peak at 27.4 and 54.6 years of age, pointing out the generational gap in the industry. 

What percent of a project should be project management ?

The estimates show that the project management costs range between 7% and 11% of the project’s total cost. When adding project control support, this figure might jump to 9-15%.

What are the five stages of project management ?

Dividing the project management process into phases can help you structure and simplify it into more logical steps; therefore giving you better chances of succeeding. The five crucial stages of the PM lifecycle are project initiation, project planning, project execution, project monitoring and control, and project closure.  

Customers and stakeholders’ expectations will continuously change during the project completion process, making it difficult to achieve project goals. These project management statistics have hopefully helped you understand that proper management is the key to decreasing the failure rate — make some notes and get ready to nail your next project.

4PM ,  PMI 2018 ,  PMI 2016 ,  CIO ,  G2 ,  Geneca ,  PMI 2014 ,  PMI 2017 ,  KPMG ,  Business2Community ,  PMI ,  Wellingtone ,  Agile247 ,  Mordor Intelligence ,  Datanyze ,  Business First Family ,  PMI ,  Wellingtone ,  Wrike ,  Business2Community ,  Workamajig

Top Project Management Statistics for 2023: Trends and Insights

Project management is a crucial discipline for businesses and organizations of all sizes. With the right project management statistics, we can gain valuable insights into the current state of the field and identify trends that will shape project management in 2023 and beyond.

In this comprehensive 4000-word article, we will examine the latest project management stats and survey results to uncover key trends in methodologies, software, workforce dynamics, and project success rates. We’ll also explore insightful data on project budgets, risks, planning, and more.

These top project management statistics for 2023 will help project managers, executives, and professionals gauge the present landscape and make informed decisions. Whether you’re looking to advance your career, improve project outcomes, or invest in new solutions, these stats and trends will provide perspective. Read on for a data-driven look at the present and future of project management.

What is the Project Management Software Market Share Expected to Be in 2023?

The global project management software market is expected to reach $9.2 billion by 2023, growing at a compound annual growth rate (CAGR) of 11%. This continued growth reflects the expanding role and value of project management across industries. In particular, agile project management software and software-as-a-service (SaaS) solutions are driving market expansion. As businesses emphasize digital transformation initiatives, demand for robust but user-friendly project management platforms will increase.

According to the Project Management Institute's Pulse of the Profession report, 65% of companies reported using some form of project management software in 2022, up from 59% in 2021. The increased adoption shows businesses recognize the value of solutions that centralize project planning, collaboration, work management, and provide real-time insights through analytics. As the market expands, competition will drive more innovation in artificial intelligence (AI) and analytics capabilities to help users improve productivity and data-driven decision-making.

Leading providers like Microsoft, Oracle, SAP, and Asana continue to add new features for enhanced workflow automation, resource management, and enterprise-wide visibility. Meanwhile, smaller agile-centric tools like Monday.com, Wrike, Smartsheet, and Basecamp are gaining ground with their flexibility and ease of use. With so many options now available, organizations are evaluating their unique needs and use cases to determine the best-fit platforms.

The SaaS model is also enabling easier scalability and accessibility for project management software across devices. According to researchers, the market shift towards SaaS will continue growing at a 12% CAGR through 2025. This transition dovetails with the broader move towards cloud computing and subscription models in business technology.

Overall, as more companies invest in digital transformation and decentralized work, the demand for purpose-built project management software will increase at double-digit rates. The data shows this market segment will top $9 billion within two years.

How Many Project Management Jobs Will There Be by 2028?

According to the US Bureau of Labor Statistics, employment of project management professionals is projected to grow by 12% from 2018 to 2028. This will result in over 225,000 new project management jobs opening up over the decade as businesses invest more resources into strategic projects. The data indicates strong and growing demand for qualified project managers across industries.

Specifically, the number of available project management roles in the US is forecast to increase from 741,400 in 2018 to 832,500 by 2028. That translates to approximately 91,000 new positions. The Bureau of Labor Statistics states project management will be among the fastest growing occupations over that period.

When accounting for replacements on top of new job openings, the total number of projected hires for project managers and specialists across the US will reach 225,100 by 2028.

Several factors are fueling this robust job growth for project management professionals in the decade ahead:

Increased organizational investment into strategic initiatives and capital projects as competition intensifies across sectors

Ongoing demand for project management skills across IT, construction, consulting, and business services

New project opportunities related to sustainability, digital transformation, emerging technologies

Retirements of baby boomers leading to replacement hiring

Desire for certified project managers as organizations seek to professionalize capabilities

Rising demand for project coordinators, analysts, schedulers, and other entry-level roles

The data underscores that project management talent will be in high demand across the board, from executive leadership to support staff. Individuals with proven project experience, business acumen, and credentials will have abundant career opportunities on the horizon. Companies that invest in project management training and mentoring will also gain a competitive edge.

What Percentage of Projects Fail?

Industry surveys reveal that the rate of project failure remains high, with around 20-60% of projects considered unsuccessful based on criteria like budget overruns, missed deadlines, or failure to meet goals. While definitions of failure vary, it’s clear that a significant number of projects continue to underperform despite use of project management practices. This underscores the need for better risk management, planning, and execution.

For example, research by Project Management Institute shows 28% of projects are deemed failures based on them exceeding budget, timeline, or failing to meet goals. Standish Group’s yearly Chaos Report found only 29% of IT projects in 2021 were completed successfully, meaning on time and on budget. The remaining 71% were either failures or challenged, highlighting continued struggle in IT project delivery.

According to PricewaterhouseCooper’s annual survey, 20% of the 10,000 projects reviewed delivered less than half of the expected benefits. Gartner found in their research that 51% of projects miss their benefit targets. Another report from KPMG put the failure rate for projects at 50-60%, similar to other analyses.

So while the exact failure percentage fluctuates across studies, the consensus is that a sizeable fraction of projects continue to face barriers to success. This indicates significant room for improvement through adoption of best practices around goal-setting, stakeholder alignment, change management, risk planning, resource allocation, monitoring, and governance.

As project management methodologies and software improve, organizations will be better equipped to minimize misalignment, maximize transparency, and hit targets. But the data shows project failure remains a common phenomenon due to underlying factors like unclear objectives, poor change control, lack of executive support, and ineffective forecasting. Tackling these systemic issues will be key to boosting project and business outcomes.

Do Project Management Certifications Lead to Higher Salaries?

Yes, popular project management certifications like PMP and PRINCE2 correspond to higher salaries. According to the Project Management Institute’s 2021 salary survey of over 32,000 project professionals worldwide, credentialed project managers report a 20% higher median salary than those without any certification ($112,000 vs $92,000).

Additionally, survey respondents with 3 or more project management certifications earned 35% more than non-certified peers. The data clearly shows that investing time and resources to obtain industry-recognized certifications signals to employers that you have mastered essential project management knowledge, skills, and practices.

Specifically, project managers holding credentials like PMP, PRINCE2, CPM, CAPM, and PfMP reported higher compensation:

PMP: $120,000 median salary

PRINCE2: $110,000 median salary 

CPM: $109,000 median salary

CAPM: $105,000 median salary

PfMP: $132,000 median salary

Regionally, the highest salaries were associated with credentials in North America ($115,000 median), Europe ($90,000 median), and the Middle East ($92,000 median).

However, certifications must be coupled with hands-on experience managing projects to maximize value. Respondents with over 10 years experience earned 53% more than those with under 2 years experience. The combination of proven expertise and credentials produces optimal compensation.

But regardless of experience level, the data shows credentialed professionals consistently earn higher wages. Given that salaries for certified individuals skew 20-35% above non-certified peers, obtaining respected certifications can provide major financial upside for project managers throughout their careers.

What Percentage of Projects Are Completed within Budget?

A survey of over 12,000 project management professionals across industries found that only 37% of projects are completed within the initial approved budget. Furthermore, for larger companies with over $1 billion in revenue, projects were even more likely to face cost overruns, with only 33% completed as budgeted.

This indicates there is substantial room for improvement in project budgeting, cost estimation, and financial management practices across organizations and verticals.

According to the research by Project Management Institute, roughly 80% of projects bust their original budget targets. For larger enterprises, a full two-thirds miss their initial budget estimates.

The top causes cited for budget overruns include:

Changing scope and objectives mid-project (56%)

Unanticipated risks and dependencies (46%) 

Inaccurate cost projections (39%)

Stakeholder requested changes (35%)

Lack of financial tracking and controls (31%)

These factors reveal why many projects end up costing significantly more than anticipated. Without proper change control processes, risk management, forecasting, governance, and visibility into spending, projects easily veer off budget.

For organizations struggling with budget overruns, implementing formal project management and governance frameworks can help. This involves defined processes for scope change approvals, resource monitoring, budget contingency tracking, and managing stakeholder expectations.

Training project managers and sponsors on skills like cost-benefit analysis and earned value management also improves budget outcomes. But the data indicates over 60% of projects still exceed their budgets, highlighting large gaps in financial planning and controls.

Do Agile Projects Have Higher Success Rates Than Waterfall?

Agile methodologies like Scrum, Kanban, and XP have higher success rates than traditional waterfall approaches according to recent industry surveys. One report by the Project Management Institute found that 71% of projects using agile project management are successful, versus only 62% for waterfall projects.

The 9% higher success rate underscores why agile adoption continues rising rapidly. The iterative, incremental nature of agile provides greater flexibility, transparency, and stakeholder collaboration throughout the project lifecycle. This allows teams to inspect and adapt quickly at regular intervals, reducing risk and misalignment.

For example, VersionOne’s annual State of Agile survey found that agile practices had the following positive outcomes:

Improved ability to manage changing priorities – 88%

Increased team productivity – 83%

Enhanced software quality – 77%

Faster time-to-market – 75%

Improved business alignment – 73%

Meanwhile, waterfall was correlated to higher failure rates and deficiencies across these metrics in other analyses. waterfall’s linear sequence makes change more difficult once execution begins.

However, agile success still depends on disciplined planning, communication, and integration of practices like retrospectives, daily standups, user testing, and iterative improvements. When implemented skillfully, these techniques translate to better delivery and value.

As more executives recognize these advantages, over 70% of organizations now report using agile approaches for software development and business projects according to recent surveys. The data shows properly leveraged agile methods consistently yield superior project outcomes in today’s fast-paced, competitive environments.

What Percentage of Companies Use Project Management Software?

According to Project Management Institute’s 2022 survey of project professionals, 65% of companies now use some form of project management software tool, up from 59% in 2021. The increased adoption shows that more businesses recognize the value of solutions that centralize and connect planning, collaboration, resource management, and work execution.

Market research by Statista similarly found 65% of worldwide companies utilized project management software in 2022. Their survey included over 600 respondents from companies of all sizes spanning multiple industries.

For enterprises with over 1000 employees, usage surpasses 75% according to the research. Nearly all major corporations now leverage dedicated project management platforms to harness workflows, productivity, and insights across the project lifecycle.

The top platforms used overall based on market share are Microsoft Project and Project Online, Oracle Primavera, SAP, Planview, Workfront, Asana, Monday.com, Teamwork, Wrike, Smartsheet, and Basecamp.

Microsoft dominates with its longstanding Project and Project Server tools widely adopted for on-premise deployments. But nimble SaaS tools like Asana and Monday.com are rising in popularity for their ease of use and support for agile workflows.

As virtual and hybrid work expands post-pandemic, cloud-based project software will likely overtake legacy solutions. Organizations are prioritizing mobility, real-time data, and seamless collaboration across geographic boundaries.

The survey data indicates project management software has crossed the chasm from niche to mainstream, as companies target efficiency and visibility gains across project portfolios. Further growth seems inevitable as enabling technologies like artificial intelligence and predictive analytics are incorporated to unlock additional productivity benefits.

What Are the Main Causes of Project Failure?

Industry research and surveys of project management professionals reveal the leading causes behind project failures are:

Lack of clearly defined goals and scope (64%)

Inadequate planning and forecasting (57%)

Poor communication/misalignment with stakeholders (56%) 

Insufficient resources assigned (52%)

Weak change management processes (49%) 

Lack of executive support (48%)

Ineffective risk management (47%)

Unrealistic timelines (45%)

Scope creep (45%)

These top factors underscore how problems around alignment, planning, resources, and adaptability derail project outcomes. Ambiguous goals, siloed teams, missed risks, tight deadlines, uncontrolled changes, and detached sponsors all set the stage for failure.

Examining the root causes more closely:

Unclear Goals: Fuzzy objectives make it impossible to define measurable success or align tasks and expectations. Outcomes suffer without concrete goals against which to evaluate progress and completeness.

Inadequate Planning: Insufficient planning around resources, budgets, timelines, risks, and requirements leave teams unprepared to execute predictably. Gaps inevitably appear once work begins.

Poor Communication: Limiting cross-functional collaboration and transparency contributes to misalignment. People are disconnected from outcomes and changes, causing ripple effects.

Inadequate Resources: Unrealistic resourcing plans strain teams and hamper productivity. Work takes longer or quality suffers from unsustainable workloads.

Weak Change Control: Scope changes are not proactively managed. Instead, uncontrolled scope creep derails budgets, schedules, resources, and quality.

Lack of Sponsor Support: Disengaged executives do not champion critical projects or provide air cover, leaving teams undersupported.

Ineffective Risk Planning: Teams reactive versus proactive to emerging issues. Unidentified risks become major threats.

Unrealistic Timelines: Aggressive schedules overload teams and leave no room for contingencies when the inevitable issues emerge.

Collectively, these missteps prevent organizations from maximizing project success rates. But the data also provides a clear roadmap for improvement. Defining goals, planning rigorously, communicating proactively, securing resources, controlling changes, gaining sponsor buy-in, mitigating risks, and realistic scheduling are all within management’s control.

Targeting these areas through training, refined processes, and governance will unlock higher success rates over time. Project outcomes are directly determined by the practices and culture built by leadership.

How Many Project Managers Are PMP Certified?

According to the Project Management Institute (PMI), there are now over 1 million active Project Management Professional (PMP) credential holders worldwide. This makes PMP easily the most widely held and recognized certification for project managers globally.

Specifically, as of March 2022, PMI reports a total of 1,132,041 professionals currently hold an active PMP certification. This represents growth of over 13% from the prior year, showing demand continues rising for this gold standard credential.

PMP certifies that individuals have demonstrated knowledge, experience, and skills to lead project teams and deliver outcomes across domains. The designation is often required or highly preferred by employers seeking proven project management expertise.

Candidates must meet eligibility requirements around education and experience before sitting for the PMP exam. The rigorous 200-question, computer-based test assesses competency across 5 performance domains:

Scope management 

Schedule management

Cost management

Quality management

Resource management

Those that pass both the eligibility review and exam can use the globally recognized PMP designation. However, maintaining active status requires accruing 60 professional development units (PDUs) every 3 years through learning activities.

The accelerating growth trajectory for PMP, now exceeding over 1 million certificants, demonstrates the value organizations place on standardized project management competencies and practices. As employers demand greater accountability around strategic results, this independent 3rd-party validation becomes more crucial for project leaders’ credibility and employability.

Do Most Projects Meet Their Initial Goals and Business Intent?

Unfortunately, research indicates many projects still fail to fully meet their original goals and business case even when they are not outright failures. Per PMI’s 2022 survey, only 50% of respondents said projects met their intended business goals and intent either always or most of the time. 15% said projects rarely or never fulfilled their expected business value.

These results indicate there are large shortfalls between projects being completed technically yet not always delivering their planned financial and strategic benefits. Some goals inevitably change over a project’s duration. But a 50% success rate for realizing the upfront goals and ROI indicates room for improvement.

A recurrent issue is lack of concrete traceability between project outputs and business priorities like cost savings, revenue gains, risk reduction, customer satisfaction, and productivity. Project changes may not align back to value drivers.

Successfully linking projects to strategic value creation requires several best practices:

Making sure project selection and chartering is driven by specific business objectives, not just ad hoc needs

Assigning project sponsors that represent business interests and can course-correct alignment

Monitoring progress regularly against both technical metrics and benefit targets

Updating cost-benefit projections as changes occur

Conducting stage gate reviews to validate continued business justification

Measuring realization of forecasted benefits post-project 

Frequently revalidating the business case, not just tactical execution, is key to driving strategic benefit achievement. While plans change, the business intent should remain the clear focus for all involved.

There is significant room to increase outcomes by instilling business value–centric frameworks, governance, and culture into project delivery. Results will hinge on purposeful linkage between projects and business value at every step.

What Are Key Skills for Project Managers?

When asked to rank the most important skills for project managers, survey respondents highlight:

Communication - ability to communicate effectively across all levels and functions. Project managers spend 90% of time communicating.

Leadership - capacity to set vision, motivate teams, boost morale, manage conflicts, influence stakeholders.

Organization/planning - proficiency at task sequencing, resource planning, budgeting, scheduling tools, traffic control.

Stakeholder management - foster engagement with sponsors, team, customers, vendors, and all players.

Budgeting/cost management - prepare accurate cost estimates and manage project expenses.

Risk management - identify potential issues and mitigate through contingency plans.

Strategic thinking - alignment with business objectives, evaluation of tradeoffs.

Additionally, soft skills like emotional intelligence, collaboration, negotiation, conflict resolution, and coaching are rising in importance for enabling high-performing teams.

Technical skills around systems, applications, and tools used in specific industries remain relevant. But versatile communication and leadership capacities are most critical to project success across fields.

With the proliferation of distributed teams post-COVID, project managers must master virtual facilitation, empathy, and team building to keep collaboration seamless. Adaptable learning and resilience also grow as essentials for navigating uncertainty.

How Many Projects Are Facing Delays and Overruns?

According to PMI’s 2022 Pulse of the Project Manager global survey, 60% of projects face schedule delays and 59% exceed their budgets. Complexity, lack of visibility, interdependencies, and inadequate planning all contribute to delayed timelines and cost overruns.

For example:

81% of oil and gas projects face average delays of 33 months.

50% of engineering projects run over initial timelines.

Up to 30% of IT projects run over budget by 189% on average.

66% of construction projects bust their original schedules.

These overruns have significant business consequences, including missed market opportunities, lower ROI, strained resources, and opportunity costs from delayed benefits.

To help curb delays and overruns, project managers should focus on:

Realistic scheduling with padded timelines

Continuous risk monitoring

Frequent status meetings and communication

Change control processes

Upfront planning with contingencies

Proactive issue escalation

Building in buffers through phasing, fast tracking, signoff gates, and modular designs also helps maintain schedule. But the data shows chronic tardiness and budget busts continue hampering over half of all projects. Adopting more agile iterative approaches can make timelines more adaptable.

Do Organizations With Project Management Offices Have Higher Success Rates?

Yes, project management offices (PMOs) correspond to greater project success according to 68% of respondents in PMI’s 2022 Pulse of the Project Manager survey.

By centralizing direction, best practices, templates, training, mentoring, and tools, PMOs enable organizations to scale project management more effectively across portfolios. They also provide invaluable continuous improvement through metrics, benchmarking, and knowledge transfer.

PMOs drive success through:

Standardizing processes, governance, and PM language

Building PM competencies and training

Providing oversight and expert guidance

Managing resources and dependencies

Monitoring project risks and health

Promoting collaboration and shared learning

The data indicates properly leveraged PMOs lead to repeatable, sustainable results over the long-term. They reduce variability and fragmentation that undermine performance. According to Project Management Institute, PMOs lead to:

92% greater maturity in PM practices

33% less failed projects

15% higher ROI

However, PMOs must stay aligned to business strategy and maintain a customer-focused mindset. They act as project delivery enablers, not gatekeepers. The numbers confirm formalized PMO structures boost project success, making them a high-value investment as organizations strategically expand PM capabilities.

How Much Time Do Project Managers Spend on Rework?

In PMI’s 2022 pulse survey, project managers reported spending an average of 21% of their time on project rework, equating to about one day a week. This rework most often relates to:

Poor requirements gathering upfront (46% of respondents)

Inadequate resource planning/management (36%) 

Ineffective stakeholder communications (32%)

Insufficient risk identification (31%)

Last-minute change requests (27%)

These inefficient activities disrupt workflow and divert effort from value-add work. With disciplined processes for requirements, planning, stakeholder engagement, risk management, and change control, managers can significantly reduce firefighting mode.

On complex projects, an astounding 50% of capacity can be consumed by rework according to research by the Boston Consulting Group. This rework churn saps productivity, budget, quality, and morale.

By investing more time upfront in deliberate planning, cross-functional collaboration, and addressing risks early, teams can decrease downstream rework. For example, completely redoing deliverables like designs or functional specs can often be avoided through incremental peer reviews versus big bang handoffs.

Progressive organizations are also using lean techniques like Kanban to limit work in progress and visual controls to expose bottlenecks quickly before they impede flow. The data shows sizable gains in team productivity and output are achievable by reducing avoidable project rework and complexity.

What Are Key Project Management Trends for 2023?

Based on recent industry surveys, research reports, and expert projections, the top project management trends for 2023 include:

Hybrid/Remote Work: Blending remote and onsite staff. More virtual collaboration, mobile tools, and asynchronous workflows.

AI-Enhanced Tools: Artificial intelligence for improved forecasts, automation, optimization of schedules, costs, resources.

Customer-Centricity: Early user feedback, design thinking, customer journey alignment, user experience focus. 

Sustainability: Green project selection criteria, ESG consciousness, carbon-neutral practices.

Data Centralization: Integrated platforms and real-time dashboards for full project visibility.

Agile Proliferation: Scaling lean, iterative techniques across the enterprise beyond IT and software.

Skills Development: Soft skills training, virtual facilitation, strategic thinking, resilience.

Portfolio Focus: Tighter enterprise portfolio management, decision-making frameworks for project investments.

Project management continues evolving beyond tactical functions to drive strategy execution, culture, and competitive advantage. In 2023 and beyond, leading organizations will capitalize on these trends through new workforce models, enabling technologies, customer alignment, sustainability, data insight, and revamped skillsets.

Summary and Key Takeaways

The volume of illuminating project management statistics and research continues growing rapidly. Key insights for 2023 include:

Booming demand for qualified project managers, with over 200,000 new openings projected by 2028

High project failure rates (~50%) point to ongoing needs for improvement in planning, alignment, execution.

Credentials lead to 20% higher salaries while agile methodologies boost success rates.

Cost and time overruns plague 50-60% of projects, emphasizing gaps in budgeting and forecasting practices.

AI, data centralization, soft skills development, portfolio management rising as critical capabilities.

These data-driven insights help project professionals and organizations benchmark progress while identifying high-impact opportunities to optimize project outcomes moving forward. By leveraging the latest stats and trends, leaders can make strategic decisions on training, tools, methodologies, portfolio governance, and culture needed to fulfill rising stakeholder expectations.

Project management success ultimately hinges on translating insights into action. The research provides an invaluable knowledge foundation. Progress depends on building competencies and infrastructure to enable disciplined, value-driven project execution at scale. With growing business complexity and uncertainty, statistics-driven agility and resilience will separate leading programs from the laggards. Data plus decisiveness is the recipe for extracting the full value from project investments now and into the future.

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95 Essential Project Management Statistics: 2024 Market Share & Data Analysis

A new version of this article, featuring the latest data and statistics, is available. Check out our report on Project Management Software Statistics for 2022 .

Project management software constantly evolves with the emerging technologies and approaches to planning, budgeting, resourcing, data mining, time tracking, and delivering projects. For example, look at how organizations have ceased choosing either agile or Waterfall project management methodologies and instead take the best of both worlds for a hybrid approach, a development that not many would have foreseen just a few years ago. Actual business needs demanded that project managers take a different route, and the results of extensive project management software research among developers yielded what we see now being implemented by project management practitioners.

These are just a few examples. Here, we present the most pressing project management software statistics to keep you abreast of industry best practices without having to expend your own precious time and resources. Take a look at how the industry and the practice have been shaping up these past few years and into the next few ones with this collation of project management software data and statistics.

Essential Project Management Statistics Table of Contents

• State of the Industry Statistics
• Project Planning Statistics
• Project Budget Statistics
• Project Performance Statistics
• Project Failure Statistics
• Project Management Software Key Developments

1. State of the Industry Statistics

Looking at the state of the project management software industry, what would strike most analysts is how it has taken off slowly relative to other business tools. This, despite the proven efficacy of these applications in solving project management problems, when implemented the right way. While many project managers in the past were justified to see project management software as way too complicated with steep learning curves, recent strides have largely addressed this, with most project management software dashboards now getting as intuitive and easier to use as other software categories. The figures below suggest how you could put project management software to good use in your own business.

• Organizations that use proven PM practices waste 28 times less money than their counterparts who do not have PM practices in place. (CIO, 2019)
• Only 46% of organizations place a high priority on a culture that values project management (PMI, 2020)
• 8 out of 10 project managers believe that project portfolio management is becoming a critical factor in influencing business success. (Axelos, 2019)
• However, 52% of respondents are somewhat or very dissatisfied with the current level of PM maturity in their organization, more than the 45% rating in 2016 (Wellingtone, 2020).
• Only 6% of organizations in Australia received more projects and worked on more programs during the COVID-19 pandemic (KPMG, 2020).
• In addition, 48% of organizations in Australia always or often report project benefit tracking variations (KPMG, 2019)
• 61% of projects have highly involved sponsors (KPMG, 2020).
• 40% of the project and program governance activities of organizations are considered very effective (KPMG, 2020).

Project Management Software Adoption

• Only 23% of organizations use a project management software (Wellingtone, 2020).
• The project management software market is expected to register a CAGR of 10.67% from 2020-2025. (Mordor Intelligence, 2020)
• Currently, the project management software market share is led by Jira at 36.57%, Microsoft Project at 19.78%, and Smartsheet at 5.17%. (Datanyze, 2021)44% of managers do not believe in the use of software in managing projects (Hive, 2020).
• 35% of project managers use MS Excel to build resource plans (Wellingtone, 2020).
• The percentage of organizations using spreadsheets to manage projects dropped from 66% in 2018 to 64% in 2019 (Digital.ai, 2020).
• Around 67% of projects of organizations that undervalue project management as an essential element for driving change result in failure (PMI, 2020)
• On average, 11.4% of investment is wasted due to poor project performance (PMI, 2020).
• 73% of businesses believe that reliability, ease of use, and ease of integration are the top three requirements to look for when investing in digital PM software, yet they believe that the solutions out there today do not have these three factors. (Hive, 2020)
• 66% of project professionals admitted that their decision to invest in project management software was supported by the organization (Hive, 2020).

Project Management as a Career

• 61% of organizations provide project management training while 47% have a clear career path for project professionals (PMI, 2020).
• An estimated 1,279,390 project management specialists and business operations specialists are employed in the United States (US Bureau of Labor Statistics, 2021).
• Project management Professional (PMP) certificate holders earn salaries that are 22% than those without PMP certification (PMI, 2020)
• As of January 2021, the average base pay for a project manager was $66,137 per year (Glassdoor, 2021).
• Approximately, there were 6% more organizations with a project management office (PMO) in 2020 (89%) than in 2019 (83%) (Wellingtone, 2020; Wellingtone, 2019).
• 74% of project professionals believe that more employees will work from home (Wellingtone, 2020).

2. Project Planning Statistics

Most projects live and die at the design and planning stage. Just the inability to make the most of project management big data could have you start with the wrong sourcing partners, undermining the success of your project early on. You could be using one methodology in one department, while the other departments use their own. These information silos will cost your business in the short and long run unless you begin to gather your teams and work your way to a standard methodology throughout the organization. A choice of dedicated software can also go a long way in this direction. There are project management solutions for developers and project management apps for small business , so get one that is designed for your case scenario.

• 54% do not have access to real-time project KPIs (Wellingtone, 2020).
• 60% of project managers report that they always apply a defined project methodology (Wellingtone, 2020).
• 39% of project teams are composed of 6-10 people; 30.5% have more than 10 people; another 30.5% are composed of 1-5 people (Girl’s Guide to Project Management, 2021).
• Also, 50% of organizations mostly or always baseline their project schedules (Wellingtone, 2020).
• 67% of organizations include project change management in their initiatives (KPMG, 2020). 
• 72% of PMOs are projected to increase in scope and responsibilities, up from 61% in 2019 (Wellingtone, 2020).
• 53% of organizations that are considered project management technology innovators apply agile techniques (PMI, 2019)
• Project professionals manage 23% of the company’s initiatives by incorporating AI (PMI, 2020).
• The top agile methods employed by organizations are daily standup (85%), retrospectives (81%), sprint planning (79%), sprint review (77%), and short iterations (64%). (Digital.ai, 2020)
• 69% of project professionals state that their senior leaders value project management. (PMI, 2020)
• 67% of project managers believe that the complexity of programs and projects has increased over the past decade. (KPMG, 2020)
• Additionally, 84% of CEOs have accelerated the development of a next-generation operating model and the digitization of operations (KPMG, 2020).
• Surprisingly, 23% of projects do not undertake change management initiatives. However, of the projects that do, 32% deem them extremely effective (KPMG, 2020).
• 59% of organizations conduct independent project performance reviews (KPMG, 2020). 
• 63% of organizations work on projects that incorporate change management capability (KPMG, 2019). 
•  Meanwhile, in Australia, 57% of organizations use a centralized PMO to streamline project activities (KPMG, 2020). 
• 28% of organizations believe that the adoption of agile methods has improved their project success rates (KPMG, 2020).
• 51% of organizations require project professionals to have certification for their role (PMI, 2020).
• Organizations that are highly mature in project management capabilities outperformed those that aren’t, as they met their goals 77% of the time (PMI, 2020).

10 Biggest Challenges in Adopting Agile Project Management in 2020

The organization's resistance to change

Lack of leadership participation

Inconsistent practices and processes across teams

Organizational culture doesn't align with agile values

Inadequate management support and sponsorship

Lack of skills or experience with agile practices

Lack of training

Lack of business/customer/product owner availability

Continued use of traditional methods

Fragmented project-related data

Source: VersionOne 2020

Most Popular Project Management Software

• monday.com is an award-winning project management platform that provides a visual and collaborative space for teams to plan, organize, and track project progress. It has a simple and intuitive interface for an easier onboarding and faster adoption of your team. To know more of its full features, you can check out our monday.com review .
• Wrike is a cloud-based collaboration and project management software. It provides real-time reports and status updates on your projects. You can find out more about its features in our Wrike review .
• Smartsheet is a flexible project management software suited for organizations of all sizes. It has planning, automating, and reporting tools to give your team a more effective workflow. Know more about its features in our Smartsheet review .
• Asana allows you to track and manage all your projects on a single platform. It streamlines communication across your organization and lets you plan and set goals with your team. More details about its features can be found in our Asana review .
• Jira is perfect for developer teams for planning, tracking, and releasing a software. It lets you create a custom workflow that best suits your team. You can learn more about its tools in our Jira review .

3. Project Budget Statistics

One of the most prominent project failures, that of KMart’s colossal $1.2 billion IT modernization project , is a stark reminder for every business to keep a tight watch and control of project budgets. Take heed of how the best project management performers do it, something that you could also do with the help of the leading budget management tools out there.

• 91% of US CEOs believe that skill directly affects a company’s financial performance. (PMI, 2020)
• 43% of companies mostly or always accomplish projects within the budget. (Wellingtone, 2020)
• Meanwhile, 27% of projects go over budget. ( Wellingtone , 2020)
• Failed IT projects cost the United States $50–$150 billion in lost revenue and productivity. ( Axelos , 2019)
• Also, IT projects with budgets exceeding $1 million have a 50% higher failure rate than projects with budgets below $350,000. ( Axelos , 2019)
• 24% of project professionals believe that projects are hampered by unrealistic budgets. (Axelos, 2019)
• 20% of project professionals believe that adopting agile techniques can lower project costs. (Axelos, 2019)
• 47% of project managers believe that they are expected to deliver more value with a reduced budget and timeline. (Axelos, 2019).
• Organizations with high maturity value delivery capability accomplish 67% of their projects within the allotted budget. On the other hand, organizations with low maturity value delivery capability do the same for only 46% of their projects (PMI, 2020).

4. Project Performance Statistics

Key factors to the best performing projects include well-trained professionals, the widespread adoption of PMOs, and doing your homework over project risk management . If your business finds it hard to implement effective training courses for your project managers, consider getting the help of outside professionals. If doing it in-house appeals more to you, consider investing in the most capable learning management systems instead.

• 77% of high-performing projects use project management software (Hive, 2020).
• 40% of projects mostly or always deliver their full benefits (Wellingtone, 2020).
• 35% of organizations are somewhat or very satisfied with their level of project management maturity (Wellingtone, 2020).
• About 60% always or mostly engage in risk management (Wellingtone, 2020).
• 29% of projects are mostly or always completed on time (Wellingtone, 2020).
• To improve performance, 68% of organizations emphasize developing leadership while 65% focus on developing the technical skills of their personnel (PMI, 2020).
• About 36% spend one or more days annually collating project reports (Wellingtone, 2020).
• 89% of organizations have one or more PMOs; 26% of these are less than two years old (Wellingtone, 2020).
• Interestingly, 54% of organizations do not have access to real-time KPIs (Wellingtone, 2020).   
• The Scaled Agile Framework is the most popular scaling method with 35% of organizations applying it. (Digital.ai, 2020)
• Four in 10 project professionals believe that the projects they worked on are a complete success (Axelos, 2019).
• 59% of project managers run two to five projects, 15% work on one, 15% take on more than 10, and 11% do six to 10 (Girl’s Guide to Project Management, 2021).   
• The top three benefits of agile project techniques include the ability to handle changing priorities (70%), project visibility (65%), and business/IT alignment (65%) (Digital.ai, 2020).
• Business value delivered (46%), customer satisfaction (45%), and velocity (37%) are the top three measures of individual agile project success (Digital.ai, 2020).
• Agile transformations have a success rate of 41% (Scrum, 2021). 
• 47% of project managers believe that their companies have built a track record of project success (Wellingtone, 2020)  
• 58% of organizations say that project success rates have improved over the last two years (KPMG, 2019).
• Approximately 51% of organizations deliver projects that meet the business objective or original goal. Meanwhile, 52% of organizations deliver projects that satisfy stakeholders (KPMG, 2020).
• In 2018, 35% of organizations in Australia completed more than 50 projects (KPMG, 2019). 
• On average, organizations with high-value delivery maturity complete 63% of their projects on time (PMI, 2020).

Source: Wellingtone 2020

5. Project Failure Statistics

If project reworks, out-of-sync project teams and executives, and haphazard business objectives are taking their toll on your business projects, it’s time to rethink and overhaul your overall implementation of project management across your organization. Perhaps your project managers and executives hold conflicting KPIs from the start, or are not using the right time tracking software to manage how workers handle their time and individual tasks.

• If management takes five hours or longer to make decisions, the failure rate of agile projects is 22% while the likelihood of projects producing unsatisfactory results is 53% (Scrum, 2021).
• 58% of organizations admitted that the impact of COVID-19 has been moderate or significant, causing project delays and cancellations (KPMG, 2020).
• 25% of organizations sometimes or never create scoping documents for projects (Wellingtone, 2020).
• Organizations with low-value delivery maturity have a project failure rate of 21%, much higher than those of organizations with high-value delivery maturity, which have a failure rate of 11% (PMI, 2020) 
• Organizations that do not leverage or have outdated project management technology have a project failure rate of 18% (PMI, 2019).
• The number of project professionals who believe that poor resource management is a significant problem in project management increased by 60% in 2019 (Wellingtone, 2019).
• A more recent report shows that 25% of organizations do not leverage technology suitable for team collaborations on informal projects despite this consuming 20% of their productive times at work (Wellingtone, 2020).
• The biggest challenges to adopting agile techniques to an organization are the resistance to change (48%), lack of leadership participation (46%), and inconsistent practices across teams (45%) (Digital.ai, 2020). 
• Almost one in five project managers have thought of leaving their jobs (Girl’s Guide to Project Management, 2021).
• Organizations that have low maturity on project management technology lose the budget from failed projects 42% of the time (PMI, 2019). 
• 54% of the projects of companies with low project management technology maturity go over budget (PMI, 2020).
• 47% of agile projects are late, have budget overruns, or result in unhappy customers (Scrum, 2021). 
• Furthermore, 11% of agile projects fail outright and end up delivering nothing (Scrum, 2021). 

6. Project Management Software Key Developments

The future belongs to AI, machine learning, and the Internet of Things. If you are not watching the latest project management statistics and developments, then don’t be surprised to see a startup or an old competition jump ahead of your business in the pecking order of customers. AI is encroaching on every facet of businesses and shows no sign of stopping soon. Businesses are accumulating big data left and right, and only the best artificial intelligence software could make any sense of them, for example.

• 56% of organizations have already developed a digital transformation strategy that incorporates AI (IPMA, 2020).
• Organizations believe that the main roles of AI would be as PM assistant (52%), PM advisor (42%), and PM substitute (3%) (IPMA, 2020).
• 54% of organizations leverage agile practices but are still maturing in that regard (Digital.ai, 2020).
• 75% of project professionals believe that the usage of collaboration tools for teams will increase (Wellingtone, 2020). 
• When asked which factors are the most critical to achieving success in the future, 35% of executive leaders identified organizational agility as the top factor. (PMI, 2020)
• 32% of executive leaders believe that investing in the right technologies is the biggest factor in future success (PMI, 2020).
• 31% of executive leaders believe that learning relevant skills is the biggest factor in future success (PMI, 2020)
• As of 2020, 59% of organizations were using Microsoft Project Online compared to 57% in 2019 (Wellingtone, 2020; Wellingtone, 2019)
• Interestingly, of the organizations that have implemented project management solutions, more than 45% have received some, most, or all the intended benefits (Wellingtone, 2019).  
• 22% of organizations used the appropriate resource management solution in 2020 (Wellingtone, 2020). 
• 71% of project professionals believe that the perceived value of PMOs will increase, up from 55% in 2019 (Wellingtone, 2020).
• The top tools used for agile project management include Atlassian Jira (67%), Microsoft Excel (40%), Microsoft Azure DevOps (23%), Google Docs (19%), VersionOne (12%), and Microsoft Project (9%) (Digital.ai, 2020). 
• 70% of companies prioritize the creation of a culture that focuses on delivering customer value (PMI, 2020).

Future-Proof Your Business with these Industry Insights

With your own business to mind and projects to attend to, use these critical project management software statistics to polish your project processes or, if you have been seeing drastic results from them, to commit sweeping changes completely. Project teams that use their own methodologies and go about with their own objectives hurt your ROI, and if your resources are limited, you might as well say goodbye to your business soon.

Knowing how to make project management software more efficient and getting it used by your key personnel should help you arrest some of the negative practices of your workers in the past. Many project management tools are specially designed to work with distributed groups, making it easy to share information and collaborate on tasks. You can even replace email communication with project management software to keep everyone in the loop. Moreover, many vendors allow you to test-drive their platform so you know whether it agrees with your own working patterns. Once you have decided on a specific solution, you can follow these 10 steps on how to successfully implement project management software .

References:

• Alexander, M. (2021, February 19). Project management guide: Tips, strategies, best practices. CIO
• Axelos (2019). The PPM Benchmarking Report 2019. Axelos
• Datanyze (2021). Project Management Market Share. Datanyze
• Digital.ai (2020, May 26). 14th Annual State of Agile Report. Digital.ai
• Glassdoor (2021, March 23). Project Manager Salaries. Glassdoor
• IPMA (2020, October). Artificial Intelligence impact in Project Management. IPMA
• KPMG (2020). Project Delivery Performance in Australia. KPMG
• KPMG (2019). The Future of Project Management: Global Outlook 2019. KPMG
• KPMG (2018). The State of Play in Project Management. KPMG
• Harrin, E. (2021, March 22). The 2021 Project Management Report. Girl’s Guide to Project Management
• Lim, R. (2020, October 9). 15 Fascinating Project Management Statistics. Hive
• Mordor Intelligence (2020, December). Project Management Software Market – Growth, Trends, Forecasts (2020 – 2025). Mordor Intelligence
• PMI (2020, January). PMI 2020 Signposts Report. PMI
• PMI (2019). Pulse of the Profession 2019 The Future of Work. PMI
• PMI (2020). Pulse of the Profession® 2020 Ahead of the Curve: Forging a FutureFocused Culture. PMI
• PMI (2020, January 21). Summary of ‘Earning Power: Project Management Salary—Eleventh Edition.’ PMI
• Scrum Inc. (2021, January 29). Why do 47% of Agile Transformations Fail? Scrum
• US Bureau of Labor Statistics (2019, May). Occupational Employment and Wages, May 2019. US Bureau of Labot Statistics
• Wellingtone (2019). The State of Project Management Annual Report 2019. Wellingtone
• Wellingtone (2020). THE STATE OF PROJECT MANAGEMENT 2020. Wellingtone

By James Anthony

A senior FinancesOnline writer on SaaS and B2B topics, James Anthony passion is keeping abreast of the industry’s cutting-edge practices (other than writing personal blog posts on why Firefly needs to be renewed). He has written extensively on these two subjects, being a firm believer in SaaS to PaaS migration and how this inevitable transition would impact economies of scale. With reviews and analyses spanning a breadth of topics from software to learning models, James is one of FinancesOnline’s most creative resources on and off the office.

Top Project Management Software of 2024

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Beneficial article indeed, I wonder whether 2020-2021 FY will turn out to be in favour of the project management-focused software technology, given C19 and its effects on remote working. Should less face-to-face interaction prove to accelerate the use of project management methods, or will this factor be a deterrent for relationship building?

James, Very helpful and educative article which I will quote in my research on accountability in SME Project planning. Thank you Andrew

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Project Management Statistics: Everything You Need to Know (2024)

Written by samantha ferguson.

Last updated on 19th April 2024

General project management stats

Does project management result in success, is project portfolio management important, what percentage of agile projects are successful, what percentage of waterfall projects are successful, what is the most popular agile delivery framework, how popular is hybrid project management, does every project have a project sponsor, how big are most project teams.

Most project teams (39%) are made up of 6-10 people .

Project management industry stats

What are the best industries for project managers.

Project management job growth is expected to increase the most in the following sectors:

Is project management a growing industry?

Is project management in high demand, how many companies provide project management training, how many companies use risk management, pmo (project management office) stats, how many companies have a pmo, what does a pmo do day to day.

The top 5 activities carried out by a PMO are:

• Project status reporting
• Maintaining portfolio lists
• Maintaining the project management methodology
• Facilitating project approval processes
• Providing project management expertise

Project manager stats

How many people work in project management, how many project managers are there in the world, how many project managers are there in the us, how many project management professionals are there in the uk, how many projects do project managers run.

59% of project managers run 2-5 projects . 11% run 6-10 projects, 15% run more than 10 projects and 15% run a single project.

PMP (Project Management Professional) certification stats

How many project managers are pmp certified, what is the pmp pass rate, what is the pmp passing score, how much does pmp certification cost, how much more do pmp holders earn, project performance stats, how many projects fail, what are the biggest causes of project failure, how many projects go over budget, what is the average project cost overrun, how much money is wasted on projects, how many projects are late, how many companies complete projects on time, how do organisations prioritise projects, project communication stats, how do internal teams communicate with each other, how do businesses communicate with clients, does project management software improve communication, project management software stats, how many organisations use project management software, how big is the project management software industry, what is the biggest market for project management software, how much time does project management software save.

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25 Astounding Project Management Statistics [2023 Update]

Ana Djurovic

March 07, 2023

The world of project management is primed, prepped, and practically begging for disruption. 

So what’s the hold-up?   

Whether you’re a newbie who is considering a career as a project manager, a seasoned project manager looking to find out more about your industry, or a business owner eager to discover why your projects aren’t as successful as they need to be-- our stunning project management statistics have a little something of value for everyone. 

Perhaps you’re wondering:

 What percentage of projects are successful? What is the percentage of projects that fail? 

Is the investment into project management software worth it? What are the benefits of project management software use? Is a certificate even worth the paper it’s printed on? 

If you’ve found yourself asking any of the above questions, you’ve come to the right place. 

Let’s dive right in.

Productive Project Management Statistics - 2022

• 22% of organizations make use of PM software. 
• 9.9% of every dollar is squandered due to poor project performance.
• The market for cloud-based project management tools is expected to surpass $6.88 billion by 2026.
• PM software usage saves project managers an average of 10 minutes per day.
• There are approximately 16.5 million project managers in the world.
• 44% of project managers do not use any PM software. 
• In the IT sector, 17% of IT projects fail so significantly that they could threaten the company’s entire existence.
• The shortage of project managers could result in a $207.9 billion GDP loss by 2027.

PM Adoption Rate Statistics 

To help get you into the swing of things, we’ll start off with a look at the current PM adoption rate statistics and what this means for the industry at a glance. 

1. The adoption rate for PM software is 22%.

Despite the obvious benefits of project management software use, which we’ll fill you in on a little later, only about one-fifth of organizations currently make use of PM software. 

2. 77% of all high performing projects use project management software.

You know those stunningly successful projects you hear about? Chances are, project management software was a key ingredient in their recipe for success, seeing as more than three-quarters of high performing projects make use of such software. 

3. In 2018, more than two-thirds of organizations outsourced project managers.

Surprisingly, 68% of organizations use outsourced or contracted project managers to manage their projects. So, instead of hiring in-house project managers or making use of PM software, more organizations choose to dole those responsibilities out to external third parties.  

Wondering what the consequences of such an action could be? Well...

4. 9.9% of every dollar is squandered due to poor project performance.

The released project management statistics pmi show that almost 10% of every dollar spent on a project is wasted due to poor project performance. 

To put that into perspective: 

If $1 billion is invested, $99 million is wasted. 

That’s a LOT of money, in our humble opinion. 

5. 44% of project managers do not use any PM software.

As you can tell, it’s no surprise that organizations don’t use PM software. What IS surprising is that close to half of external project managers use no PM software. 

The question is: 

How do they manage projects and stuff? 

Project Management Software Market Share 

The PM adoption rate statistics you just read have likely left you wondering what the market share looks like, right? 

Fret not: 

We’ve got your back. 

6. The current global project management market is valued at $4 billion. 

Project management statistics 2019 revealed that the global project management market was valued at a cushy $4 billion. The current CAGR is 6.9%, which is impressive by anyone’s standards. 

As if this weren’t remarkable enough:

7. The market for cloud-based project management tools is expected to surpass $6.88 billion by 2026.

In just six short years, the market for online project management tools is expected to skyrocket.That means that the project management software market share will be growing at a CAGR of 9.4%.  

8. The project management software market share is led by Jira at 39.35%.

While Jira gobbles up a large portion of the project management software market share, others still lagging behind. Microsoft Project has 18.66% of the market, and Smartsheet has 9.26%. 

9. More than half of all organizations rank cost as the reason why they choose not to use PM software.

56% of organizations find the cost of PM software to be way too high, which is why the majority don’t invest in it. 

Let’s be honest, though: 

When isn’t cost a prohibitive factor? 

10. According to pm practices statistics, organizations spend an average of $861 per month on project management software.

Those that are currently making use of project management software spend a tidy sum on a regular basis. 

Is this cost worth it? Keep reading to find out.   

• Project Management Jobs Statistics

For an insight into what life as a project manager is like, how much they earn, if having a PMP certificate is worth it and more, read these astonishing stats.

11. An estimated 234,883 project management jobs open each year in the US.

In the US alone, a total of 234,883 project management jobs open each year. On a global scale, there are upwards of 1.57 million jobs. 

12. In just seven years, employers will need 87.7 million employees to work in the PM field.

At the rate things are going, by 2027 employers will require 87.7 million employees to work in roles associated with project management. 

13. The shortage of project managers could result in a $207.9 billion GDP loss by 2027.

Project management talent statistics reveal many things, but one thing is incredibly worrying: 

There is a severe talent shortage. So severe, in fact, that if it isn’t rectified soon, a potential mind-boggling GDP loss is on the cards. 

14. US project managers earn an average base pay of $90,139 per year.

Additionally, project management jobs statistics show that the average base pay for entry-level PMs is $89,286. IT project managers earn a base pay of $100,000, and Directors of PMOs earn an impressive $134,791 on average every year.  

Does anyone else want to open up their own PMO after reading that last stat? Nope? Just us? Alrighty then. 

15. Those with a PMP certificate earn 23% more than those without.

PM Certifications Statistics highlight the power of furthering your education. On average, project managers who are in possession of a certificate earn salaries that are considerably higher than those who don’t have one. 

Benefits of Project Management Software Use 

Why are Pm software adoption statistics so low? Are there any benefits of project management software use? And do project management and business performance statistics go hand in hand?

We’ll let you decide for yourself. 

16. Agile organizations grow revenue 37% faster than non-agile ones.

Agile adoption statistics 2019 revealed some incredibly interesting project management statistics. 

Firstly, businesses that adopted an agile project management system grew revenue 37% faster than their non-agile counterpart. Secondly, this translates to 30% higher profit generation.  

17. 90% of businesses that use open source PM software experience benefited from efficiency and innovation.

What company doesn’t want to foster a spirit of innovation and operate at maximum efficiency? Well, for nine out of ten businesses that use open source PM software both of these areas are thriving.  

18. Team communication is improved by 52% with the usage of PM software.

It’s a well-established fact that team communication has the potential to make or break a project. In teams that use PM software to manage their projects, communication gets a massive boost.   

19. 44% of businesses that use project management report that the quality of the final product was higher.

Project Management impact statistics show that just shy of half of the businesses that implement project management report that the final product was of a higher quality. 

20. PM software saves project managers an average of 10 minutes per day.

While 10 minutes doesn’t sound like a lot, it is. In fact, it amounts to an astonishing 153 hours per year! And that’s just for the project managers themselves! 

Check this out:

Team members who work with these managers save up to 20 minutes per day, which equals to around 498 hours per year. 

That’s right! We told you PM software is impressive--now we’ve proven it. 

Fun Project Management Facts and Stats 

Before we wrap these project management statistics up, here are a few fun facts and stats that everyone should know. 

21. There are approximately 16.5 million project managers in the world.

Yep, that’s right. Approximately more than 16 million people around the world are employed as project managers. 

What are the most used project management methodologies?

22. Agile, Waterfall, Six Sigma, and Muri are amongst the most popular project management methodologies.

While Agile, Waterfall, Six Sigma, and Muri are the most popular, other methodologies are used, too. These include Scrum, Lean, Kanban, and PMBOK. On the other hand, PRINCE2 is the least popular project management methodology.  

23. More than 50% of projects fail.

The pmi project failure statistics are eye-openers, to say the least. More than half of all projects fail. In the IT sector, 17% of IT projects fail so significantly that they could bankrupt the whole company. 

24. Agile projects are 28% more successful than traditional projects.

Project management success statistics reveal that projects employing the Agile methodology are significantly more successful than non-Agile projects.

 25. Project Management trends in 2020 include AI, hybrid project management, better data management and remote working.

By now, we all know what 2019’s trends were thanks to the project management statistics 2019 brought with it. But what are the 2020 trends so far? AI, hybrid project management, better data management, and a rise in remote working are all things to keep your eye on this year. 

Project management is an industry that needs to get with the times in order to keep up with the growing list of demands that the digital-centric world brings with it.

The benefits of project management software use are clear for everyone to see. And in the hyper-competitive landscape of business today, they simply cannot be ignored.  

Have these project management statistics helped you realize that it’s finally time to take the plunge and invest in project management software?

Table of Contents

• PM Adoption Rate Statistics 
• Project Management Software Market Share 
• Benefits of Project Management Software Use 
• Fun Project Management Facts and Stats 

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The Difference Between Traditional and Agile Statistics

Traditional project management statistics, agile project management statistics, project management statistics: summary and what’s to consider.

Before starting a new project, building a strategy is an important part of overall preparation. And it’s better to learn from the mistakes of others rather than make your own mistakes.

Project management changes year by year, and it’s hard to go toe-to-toe with all the novelties without raw facts and numbers. What if your initiative is going to fail? How much does failure cost? Are agile methodologies better than traditional ones?

In this article, we’ll uncover the must-have statistics to consider while planning and running your project. Among other things, we’ll also take up the Agile statistics for all those who are fans of flexible ways of managing.

Primarily, Agile differs from traditional in its values. Agile is focused on flexibility and customer feedback, so as the project grows, priorities can significantly change.

Nowadays, Agile is becoming more popular, and it’d be a mistake to rate traditional methodologies and flexible ones together because the way they work is completely different and the result of these two approaches is different as well. In that case, these approaches lead to different results and statistics, which is why we analyze them separately.

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1. Less than half of project management solutions give the expected results .

Among all businesses using PM tools, only 45% achieved all or most of the expected results.

2. Stakeholders’ feedback is important.

78% of respondents claimed that they’d like to see stakeholders more involved in the development process.

3. More than half of projects fail.

According to statistics, 70% of projects tend not to achieve the expected results .

4. Not even half of companies use PM tools and practices in their day-to-day operations .

42% of companies don't understand the need to implement PM solutions.

5. Money is not a guarantee of success.

55% of managers state that when the team overruns its budget, it’s the way to failure.

6. Documents are twice as important as personal meetings .

According to the survey, file sharing is the most important feature for managers, while video chat is less important.

7. A few projects are able to succeed without sponsorship.

Before starting a new activity and planning its budget, it’s important to consider if your team can handle it without support from the outside, because 62% of successful initiatives had sponsors.

8. Modern companies understand how important it is to manage projects properly.

89% of all companies have at least one PMO, and 50% have even more than one.

9. The minority of managers are running only one project.

59% of project managers run up to five projects at the same time, while only about 15% of all managers work on only one.

10. Only one manager can run up to 10 projects at once.

11% run 6 to 10 projects at a time, and 15% run more than 10 at a time.

11. Not every project can deliver the intended result .

More than half of initiatives can’t reach the results that were set, and about 40% of them mostly or never deliver their full benefits.

12. Sponsorship is vital to boosting your activities .

Indeed, sponsors are not only people who provide you with funds but can also show you the right direction and strategy. Anyway, 68% of all projects don't have an effective sponsor who can guide them.

13. Microsoft is the leader of the PM industry .

They cover almost 23% of the whole project management software market . The second place comes with Jira (about 20%), and the third is Trello at 5.5%.

14. Many companies are keen to cut risks by implementing risk management practices .

27% of all organizations regularly use practices to reduce risks, while 35% of all companies do it from time to time.

15. Seniors completely understand the value of PM methodologies .

Above that, 87% of managers with a senior grade completely understand the importance of PM practices and methodologies.

16. It’s vital to find a balance between business and project objectives.

Among all projects, 44% fail due to a lack of alignment between business objectives.

17. While setting deadlines,don’t forget to include the time for reworks .

80% of organizations report that they spend at least half their time on rework.

18. Even though money is important, it’s not always a guarantee of success .

50% of projects that fail have a budget of over $1,000,000.

19. Be prepared for unexpected expenses .

27% of projects exceed the budget that was set at the beginning.

20. Poorly performing businesses are facing more struggles when running a project .

Among all low-performing companies, only 36% of teams are successfully completing the project. Tip: Gain comprehensive knowledge about launching an online business at imminentbusiness.com.

21. High performance is equivalent to the adoption of PM practices .

77% of all high-performing companies are currently using PM practices, while for low-performing companies, it’s only 44%.

22. The bigger a company is, the more likely its projects are to fail .

Large companies are more likely to experience failure than small ones. For SMEs, the success rate is 80%, while for large companies, it is only 72%.

23. Middle-level project managers can earn up to $108,000 a year .

For the middle manager position, the average salary in the US is between $66,000 and $108,000 a year.

24. Soft skills are above hard skills for all, from junior to senior .

The most in-demand skills are communication, leadership, and problem solving.

25. Middle-sized teams are more common than small and large ones.

About 40% of teams consist of 6–10 people , while small (1–5 people) and large (more than 10) teams are about 30% each.

26. Only 14% of Waterfall projects end successfully without experiencing challenges, while for agile, it’s 42% .

Despite the fact that the traditional Waterfall is still popular, Agile has a higher success rate. Only 9% of Agile-based projects have failed, while for waterfall, it’s 29%.

27. Agile methodologies help maintain changing priorities and significantly increase visibility .

The top three benefits of agile project techniques include the ability to handle changing priorities (70%), visibility for stakeholders (65%), and business alignment (65%).

28. Scrum is the most popular PPM among all the Agile frameworks .

71% of US companies have implemented Agile as the main method of their project management, and 61% of them decided to mostly focus on Scrum.

29. Full-scrum teams are more than twice as successful .

The success rate of full Scrum teams and the quality of the final product are increasing by up to 250%.

30. Though Agile helps many companies grow, proper implementation and experience are necessary .

Among all failures while using Agile, 44% failed because of a lack of experience with flexible methodologies.

31. Agile practices help increase profit by up to 60% .

It’s important to note that Agile hardly brings any benefits when used partially. The best Agile practice is to implement it fully.

32. Starting in 2002, the Agile usage rate increased by 88% .

This number also depends on the industry, but in general, this rate for companies across different industries is 80–88%.

33. Jira is the most popular software for flexible project management .

If Microsoft takes its place among traditional project management software. Jira remains the most popular among Agile-based teams .

Project management surveys provide us with many statistics, and only you can choose what to consider. In today’s article, we outline the most vital numbers and rates that every manager should be aware of.

To squeeze out exactly the information that you need, focus on your role in the team and also consider your methodology: is it mostly Agile or Waterfall-related?

Based on the statistics above, we can totally say that Agile has become popular, but traditional PMM is still popular and effective, so only you can choose which one to pick.

According to the Project Management Institute (PMI), the most common reasons for project failure are:

• Lack of clear goals and objectives
• Poor communication
• Lack of stakeholder buy-in
• Unrealistic timelines
• Inadequate resources
• Changes to the project scope
• Unforeseen risks

Project management tools can help organizations to improve their project success rates by providing a number of benefits, including:

• Increased visibility and transparency
• Improved communication and collaboration
• Reduced risk and uncertainty
• Improved efficiency and productivity
• Increased ROI

There are a number of different project management methodologies, each with its own strengths and weaknesses. Some of the most common methodologies include:

Note, that some methodologies are just a part of another one. For example, Scrum is a part of the Agile methodology.

A successful project manager needs to have a number of skills and qualities, including:

• Strong leadership skills
• Excellent communication skills
• Problem-solving skills
• Risk management skills
• Time management skills
• Organizational skills
• Flexibility
• Adaptability

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The Ultimate List of Project Management Statistics (2024)

Updated September 6, 2022

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Project management statistics demonstrate a rapidly changing demand for better technology, talent, and opportunities in the PM world.

Lately, project management tools have become increasingly appealing for companies dealing with distributed, remote, and hybrid teams. At the same time, we’re seeing a rising need for project management professionals to oversee outcomes.

According to Mordor Intelligence, project management software will reach a value of $9.81 billion by 2026. Today, we’ll look at some of the most important statistics you should know about project management tools.

Key Project Management Statistics – Editor’s choice

• Project management software will be worth $9.81 billion by 2026
• Jira holds the largest market share for project management technology ( c.42%) .
• Only around 35% of project managers are happy with the technology and PM maturity in their organizations.
• 11.4% of resources are regularly wasted due to poor project management.
• 54% of project managers don’t have access to real-time data and KPIs.
• Less than half of all projects ( 43% ) are completed on budget, and only 29% are completed on time.
• Around 25 million new project management professionals will be needed in the talent landscape by 2030.

Project Management Statistics: Market Growth

1. project management software is growing by 10.6%.

( Mordor Intelligence )

Project management software demand is growing faster than ever. Valued at around $5.37 billion in 2020, the market is set to reach $9.81 billion by 2026. According to Mordor Intelligence, this represents a CAGR of around 10.67%.

Mordor Intelligence believes a significant reason for the increased demand for Project Management tools is the increasing size and complexity of the modern workplace. The pandemic and the rise of hybrid work requires a more advanced strategy for project management.

2. Large enterprises are the biggest market for project management tools

( ReportLinker )

A ReportLinker review of the Global Online Project Management landscape reveals a slightly slower growth rate for the marketplace compared to Mordor Intelligence, at around 7.9%. The report found some companies are embracing this technology faster than others.

SMEs are expected to increase their acquisition of project management tools by around 7.9% over the next 7 years. At the same time, large enterprises are set to increase their investment by 9.1%. The large enterprise segment currently accounts for around 49.2% of the market.

3. Jira currently holds the highest market share among project management tools

( Datanyze )

Following an analysis of the current project management software market, Datanyze found there are around 197 companies producing bespoke project management tools. Currently, Jira holds the top spot for market share, with c. 42% of the market.

Microsoft Project follows in second place with around 15.4% of market share, and Kanban is in third place with only 5.52% of market share, as of 2023.

4. The US Accounts for 29.2% of the market share

The ReportLinker review on project management software adoption indicates the US is one of the most significant markets for this technology, accounting for around 29.6% in 2020. However, China represents a significant growth area, with a projected growth of 7.4% in the next 7 years.

The “online” project management software market in the US is particularly significant, as companies drive more of their technology into the cloud, to manage the agile requirements of a post-pandemic environment.

Notably, ReportLinker also revealed that government groups are some of the biggest adopters of project management technology. Government groups are responsible for 25.3% of the market.

5. Only 35% of project managers are happy with their technology

( Wellingtone )

A Wellington study on the state of project management solutions in 2020 found only around 35% of marketers said they were either somewhat or very satisfied with the current level of project management tools in the market. Around 52% of the respondents in the study felt dissatisfied.

Despite this, Wellingtone also found that around 70% of companies believe their project management tools is at a level of 3 or more on a scale where 1 is the least mature, and 5 is the most mature.

6. 11.4% of resources are wasted due to poor project management

A study by the Project Management Institute in 2020 found approximately 11.4% of all resources in the modern business landscape are wasted due to inferior processes for project management. According to surveys conducted by the researchers, organizations are struggling with finding the right strategies.

The surveys conducted by PMI revealed that organizations who failed to properly integrate project management tools into their strategies will see their project failure rate increase by a rate of around 2/3. Unfortunately, the same survey also revealed only around 46% of companies say their organization values project management.

7. 89% of organizations have at least one PMO

According to the Wellingtone state of project management report, around 89% of all organizations now have at least one project management office in place, and 50% have more than one solution available.

A further 71% of the people surveyed in this report said they believe the perceived value of “Project Management” in their business is increasing, up from 55% in 2019.

Project Management Statistics: Project Management Trends

8. repetitive tasks are increasing demand for project management.

( Monday.com )

According to Monday.com, project management tools could be the key to improving their efficiency at work. Around 54% of the workforce currently believes they would save around 5 hours or more from tools which allows them to automate tasks like tracking progress of a project.

Around 24% of respondents in the study said they consider the repetitive management and input of data to be their biggest time drain when at work. Around 32% said they would love an opportunity to eliminate repetitive admin tasks completely. Over 70% of those surveyed said they would like to access automation tools to help with projects.

9. 54% of companies don’t have access to real-time project KPIs

Though pressure on companies to manage projects on a greater scale is increasing, many organizations say they still don’t have the right technology in place. Around 54% of respondents in the Wellingtone report said they don’t have access to real-time project KPIs.

1/3 of respondents said they spend a day or more to manually collate project reports. Around 25% of the respondents in this report also said they don’t have the right technology to collaborate on information projects in their business.

10. 77% of high-performing teams us project management software

A study conducted by PWC found that the companies using software to manage and improve the processes of their projects generally achieve better results. 77% of the high-performing companies in the study said they used project management software regularly.

According to the respondents in the study, these project management tools are essential for tracking and monitoring the outcomes of projects.

11. Events like COVID-19 have a huge impact on project management

According to analysts like KPMG, events like COVID-19 have a huge impact on the approach companies take to project management and investing in new talent or technology. The report revealed 58% of respondents believed the pandemic had a moderate or significant impact on their projects.

The survey also highlighted an overwhelming number of project leaders were now investing in digital collaboration tools and systems to keep teams engaged and capable of working remotely.

12. Hybrid project management strategies are the most common

( Rebel’s Guide to PM )

According to the Rebel’s Guide to Project Management, around 60% of project managers use hybrid methods to deliver their projects. Hybrid methodologies use a blend of predictive (waterfall) methods, and iterative (agile) strategies.

Typically, according to the Rebel’s Guide, a project will be initially established using the predictive planning method to mark key deadlines for the whole piece of work. However, sprints and agile iterations usually take place within that structure.

13. Only around 43% of projects are completed on-budget

The Wellington State of Project Management report indicates only around 43% of organisations mostly, or always complete their projects within their designated budget. An even lower number of companies (29%) mostly or always complete their projects on time.

To make matters worse, less than half of respondents (47%) say their organizations have a track record of project success, and only 40% say their projects always fully deliver on benefits.

14. 48% of people believe their organization manages projects effectively

As of 2020, the KPMG report on project delivery performance found less than half of all teams feel their organisation manages programs and projects effectively. The report also showed only around 25% of all projects were delivered successfully. What’s more, only 52% of companies think their projects are delivered to the satisfaction of stakeholders.

There are a number of reasons for the potential issues with project success rates, according to KPMG, including the fact only around 40% of organizations say their project governance strategies are effective.

Project Management Statistics: Careers

15. 61% of organizations provide project management training.

According to the PMI report from 2021, project management is a growing career. Around 61% of companies commit to providing some kind of training for project management. Around 47% of companies also say they’ve defined specific career paths for project managers.

Increasingly, it’s becoming important for business leaders to have a dedicated individual in place responsible for dealing with project management. Around 51% of companies now say they need a project professional to hold a certification for their role.

16. There’s a growing demand for around 25 million new project management professionals

( PMI Talent Gap Study )

A recent report released by the Project Management Institute on the talent situation for project management professionals reveals some shocking results. According to the report, there will be a need for around 25 million new project management professionals by 2030.

The impact of the increasing skill gap could be felt on a global scale if it isn’t rectified, according to PMI. Lack of project management talent could create a possible loss of around $345 billion in global GDP by 2030.

17. Project professionals spend majority of their time reporting

According to the Wellingtone Project Management report, there are numerous tasks a project management professional needs to manage on a daily basis. The main focus for project managers seems to be on project status reporting.

The second most common task is simply maintaining the project list or portfolio, followed by maintaining the PM methodology and document templates. PMs must also deal with facilitating project approval processes and providing project management expertise.

18. Project Management skills are the most sought after proficiencies among new hires

( BTG Skills Index )

A study conducted by the Business Talent Group, an online marketplace for independent talent, found project management was the most in-demand skill in 2021. Project management capabilities have been ranked among the most crucial skills for new hires for a number of years now.

Following Project Management, some of the other most crucial skills required by today’s business leaders included the ability to conduct market landscape research and deliver organizational design and workforce planning. Business leaders are also looking for experts in growth strategy, process optimization and transformation, and strategic planning.

19. Salaries for Project Managers are rising

The 2022 PMI talent gap study found the increasing demand for project managers is also leading to a higher salary potential for those with the right skills. According to the report, salaries for project management related roles were far higher than wages not related to project management – by a range of around 78%.

The average project-management oriented salary is around $111,399. Having project management related skills could increase the income of a manager by more than $30,000, according to the PMI Talent Gap Study. The software development landscape is particularly well-suited to offering high income opportunities.

The Transformation of Project Management

Companies are increasingly seeing a rising demand for project management strategies, tools, and professionals capable of driving a more efficient set of business processes. As the workplace continues to change and project stakeholder expectations evolve, companies will need to invest more time and money into perfecting project management.

It’s fair to say project management will continue to be a major focus point for business leaders in the years ahead. What remains to be seen is how companies stay ahead of the competition with their project management investments.

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Rebekah Carter is an experienced content creator, news reporter, and blogger specializing in marketing, business development, and technology. Her expertise covers everything from artificial intelligence to email marketing software and extended reality devices. When she’s not writing, Rebekah spends most of her time reading, exploring the great outdoors, and gaming.

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55 Project Management Statistics of 2024

by Juan Posada | 7 Feb. 2024

In the delicate dance that is project management, the skill of planning, executing, and closing projects on time guarantees greater employment satisfaction, overall consistency, and those all-important results. The business landscape continues to evolve, and therefore, having a plan in place is critical to the very fabric of business success. Whether it’s launching a new project, implementing a cutting-edge system, or executing strategic initiatives, the right approach to project management is that all-important structure. It helps to streamline processes and ensures that resources are allocated appropriately, budgets are adhered to, and deadlines are met.

Therefore, project management strategies need to continually adapt and be forward-thinking. This is why every project management professional should stay informed regarding setting benchmarks, measuring performance against industry standards, and making decisions driven by data.

Industry professionals must keep on top of the current statistics to inform their decision-making and navigate the complexities of project management successfully. Let’s discuss some key insights backed by the most important project management statistics.

10 Key Project Management Stats

Discover the most essential 2024 project management trends with these highlighted statistics:

• Organizations that use project management practices have a 92% success rate in meeting project objectives. ( 1 )
• 85% of project managers tend to run multiple projects at the same time. ( 3 )
• Only 46% of companies place a high priority on a culture that values project management. ( 29 )
• An estimated 1,279,390 project management and business operations specialists are employed throughout the United States. ( 28 )
• Approximately 80% of project managers believe that project portfolio management is a critical factor in influencing business success. ( 30 )
• 44% of project managers say lack of resources is one of the top challenges. ( 3 )
• 37% of project managers have considered leaving the role due to various reasons. ( 3 )
• 43% of project management professionals feel that project teams are generally understaffed. ( 7 )
• 89% of organizations now have at least one project management office (PMO). ( 14 )
• Documentation is the most common task project managers wish to remove from their workload. ( 3 )

15 Industry Facts About Project Management

The project management industry has undergone a profound change in recent times. The COVID-19 pandemic has affected us all, and as the shift to remote work occurred, and there was less of a need for office spaces, project management has gone beyond the traditional physical boundaries, and teams can now collaborate from remote locations. In fact, the shift to remote work has redefined the essence of project management and demands a departure from conventional practices.

Many organizations are still quite centralized in their mindsets, and this can be very detrimental for project managers as they will invariably need to navigate virtual communication as a key component, in addition to other modern challenges such as differences in time zones and diverse working environments.

Physical proximity becomes less important, and the right project management software and collaboration tools can help industry professionals alter their approaches, prioritizing adaptability and integrating technology, rather than leading a team in a typical office environment. These project management facts highlight just how the industry has altered:

• Organizations that use proven project management practices waste 28 times less money than those that do not have practices in place. ( 31 )
• At least 71% of U.S. companies are now using Agile project management methodologies.( 32 )
• 5% of businesses claim that the cost of a project is the main issue project managers face while handling manufacturing projects. ( 11 )
• IT project failure rates range between 5% to 15%. ( 12 )
• 17% of IT projects can fail to the point that it may threaten a company’s existence. ( 33 )
• 5% of project teams have 5 or fewer members. ( 23 )
• 52% of respondents are “somewhat or very dissatisfied” with the current level of project manager maturity in their organization. ( 14 )
• Globally, 85% of CEOs believe that AI will “significantly” impact their business in the next five years. ( 34 )
• There are 90 million employees worldwide working in industries that focus on project management. ( 15 )
• Software development will see the most growth (14%) in jobs related to project management between the years 2019 and 2030. ( 15 )
• More than 89% of companies have a Project Management Office (PMO) to support project management procedures. ( 14 )
• The money made by industries that use project management extensively will go up from $24.7 trillion in 2019 to $34.5 trillion in 2030. ( 15 )
• By 2030, there will be a need for approximately 2.3 million new project managers every year. ( 16 )
• 82% of people believe project managers are important for making projects successful. ( 17 )
• Most people expect their Project Management Offices to get bigger and offer more services. ( 26 )

The state of the project management industry has forced project managers to make significant changes and emphasize agility and dynamism more than ever. As the industry continues to evolve, rising from those lessons learned through the COVID-19 pandemic, the future of project management is an exciting blend of the traditional and the contemporary. With the traditional expertise project managers possess and the constant evolution of contemporary tools, project management will very well transform into something completely different, and as the demand continues to spike, this is where the right tools will become invaluable.

10 Project Management Software Statistics

The key to effective project management used to be in the planning, which was very much an analog method. Now, there is an abundance of advanced tools that improve productivity in so many ways by enhancing collaboration and streamlining workflows.

The shift towards AI-assisted tools has helped project managers get to the core points of their workload and learn to work smarter rather than harder. Technology is an indispensable companion for this reason as project managers can navigate the complexity of an entire project from beginning to end with greater efficiency.

Some of these facts about project management software and the current state of a project manager’s day can highlight how software can improve project success rates, utilize resources effectively, and increase satisfaction:

• 36% of project management software users in the United States identified its functionality as a major factor affecting their choices. ( 1 )
• Approximately 13 hours per week of workers’ daily time is spent on dealing with emails instead of project management. ( 1 )
• Shifting default communication methods to social platforms may potentially repurpose 25% to 30% of the time spent on emails. ( 1 )
• 66% of project professionals admitted that investing in project management software was supported by their organization. ( 2 )
• 73% of businesses believe reliability, ease of integration, and ease of use are the top three requirements to look for when investing in digital project management software, but believe solutions out there do not have these factors. ( 2 )
• Only 23% of organizations use project management software. ( 2 )
• 77% of high-performing projects utilize project management software. ( 2 )
• The project management software market is expected to reach $15.08 billion by the year 2030. ( 18 )
• 25% of project management professionals state that they lack effective collaboration technology to achieve their goals. ( 14 )
• 71% of project management professionals say collaboration software has increased in their organization over the past 12 months ( 17 )

These statistics on project management software highlight growth. The rise of intuitive project management software, such as Visual Planning , is a testament to not just how a project manager can streamline their working processes, but the industry as a whole can see the benefits if it commits to greater efficiency and innovation through tools that guarantee successful project outcomes by increasing efficiency, efficacy, and collaboration.

10 Project Management Failure Statistics

The most essential component to guarantee the effectiveness of the project is the project managers themselves. A project manager is a strategist undertaking the test of organizing various strands like timelines, resources, and budgets to achieve the project objectives. Failure to navigate this balance can result in a range of problems, from missed deadlines to running over budget and an ineffective outcome.

A project manager bears the responsibility of planning the resources in the right ways to steer clear of failure. Executing a project demands wise management of every element. Effective resource planning, identifying potential bottlenecks, considering the overall budget without overstretching and under-delivering, as well as optimizing efficiency, ensuring stakeholder satisfaction, and achieving project success can all hinge on the success or failure of a project.

Ultimately, in project management, failure is not an option, but some of these project management stats can illustrate the potential for failure rates in project management and the various factors that contribute to project failure:

• If management takes five hours or more to make decisions, Agile projects’ failure rates are 22%. ( 19 )
• 25% of organizations sometimes or never create scoping documents for their projects. ( 14 )
• Organizations with a low-value delivery maturity have a project failure rate of 21%, which is incrementally higher than organizations with a high-value delivery maturity, which will have a failure rate of 11%. ( 20 )
• There are six performance metrics every project must achieve to be successful. These include if the project was completed in the set deadline, within budget, and in the allocated time. Other factors can include budget overruns and scope creep. ( 21 )
• 25% of organizations do not utilize technology suitable for team collaborations on informal projects, even though this consumes 20% of their productive time. ( 14 )
• 50% of all Project Management Offices (PMOs) close within just three years. ( 35 )
• 47% of Agile projects have budget overruns, are late, or can result in unhappy customers ( 19 )
• Almost one in five project managers have considered leaving their jobs at some point. ( 23 )
• 54% of company projects with low project management technology maturity go over their budgets. ( 36 )
• 11% of Agile projects end up failing without delivering anything. ( 19 )

In project management, it is the project manager where the buck stops. Project failures could result from several different reasons: wastage of resources, inefficient people, poor methodologies, running over budget, or a lack of communication and/or planning. This is why strategic approaches to project management can make a massive difference between success and failure.

Utilizing the right tools that can ensure the project manager has a greater understanding and control over the project is invaluable to the overall project arc, as well as its outcome, greatly minimizing the potential for project management failures.

10 Project Management Job Stats

Project management is a distinguished profession. It is a combination of so many different skills that it is a career benchmark for so many. In a world where businesses are defined by their abilities to adapt and innovate, project managers emerge as the glue between so many different company components.

A project manager must steer the initiative from the initial conception to completion and beyond, ensuring every aspect aligns, not just with the rigors of the task, but also with the organization’s goals and industry standards.

The thing that sets project management apart is its dynamic nature. Year over year, the project management industry continues to experience substantial growth, reflecting its role in shaping the success of enterprises worldwide. As organizations recognize the importance of effective project management in achieving objectives, there becomes a greater demand for skilled project managers. These facts about project management in relation to being a project manager highlight the demand, growth, salary, and so much more:

• On average, an experienced project manager in the US can earn around $100,000 per year. ( 25 )
• 74% of project professionals think that more employees will continue to work from home. ( 14 )
• There are approximately 843,910 project management specialists employed in the United States ( 6 )
• Project Management Professional (PMP) certificate holders can earn salaries up to are 22% more than those without the certification. ( 24 )
• The average salary of an entry-level project manager in the United States is $53,923. ( 25 )
• The employment of project management specialists is expected to grow 6% from 2022 to 2032, faster than the average for all other occupations. ( 6 )
• By 2030, the world will require 25 million new project professionals. ( 26 )
• Over 61% of companies train employees in project management. ( 26 )
• 14% of people believe AI will reduce job opportunities. ( 26 )
• The demand for experienced project managers is growing faster than the demand in any other occupation, with approximately 88 million workers expected to be staffed in roles related to project management by the year 2027. ( 27 )

These statistics show project management is such a broad canvas professionally. Project managers have a diverse skill set covering so much, from communications, strategic thinking, and leadership. A project manager plays an indispensable role in any modern business’s strategy, and the demand is currently growing faster than any other discipline in any other occupation.

The role of a project manager is not just someone overseeing the project in question, but needs to be a leader, confidante, team member, and showcase so many more approaches to work that they do not just become a key cog in the business, but are clearly the most indispensable part.

Optimize Project Management Performance with Visual Planning

Seeing a project through from beginning to end requires many skill sets. As project managers look for solutions to streamline their processes and achieve the desired results, staying ahead of the curve is not just an advantage, but an absolute necessity to guarantee success. The latest project management statistics and current trends can ensure professionals navigate their projects with greater precision, preparation, and prevention. However, being knowledgeable is not enough, and the right tools have become critical to ensure project managers can keep on top of every aspect of a project.

Visual Planning can be invaluable for your project management needs. A powerful, robust, and easy-to-use collaborative project management software solution that can allow you to build schedules, assign resources, generate reports, and visualize every aspect of the project in a timeline can help improve your decision-making at every turn.

By using Visual Planning software, you will not only be able to make better decisions that do not just help you keep track of workloads and resources but can improve business productivity in so many different ways. If you want to harness the power of an effective project management tool, ask for a demo of our Visual Planning platform, and you can see how it will revolutionize your approach to project management. Request a demo today to learn more about our platform and start your business on a journey toward greater project success.

1 Rushton, J. (2023). 50+ Project Management Statistics You Need to Know – Success, Failure, and the Market. [online] Techopedia. Available at: https://www.techopedia.com/project-management-statistics  

2 Gilbert, N. (2019). Project management software constantly evolves with the emerging technologies and approaches to planning, budg. [online] Financesonline.com. Available at: https://financesonline.com/35-essential-project-management-statistics-analysis-of-trends-data-and-market-share/ .

3 Harrin, E. (2023, December 6). Project Management Survey results. Rebel’s Guide to Project Management. https://rebelsguidetopm.com/project-management-survey-results/  

4 Ambassador, A. T. a. P. P. (2019, July 9). AXELOS PPM Benchmark Report 2019. Axelos. https://www.axelos.com/resource-hub/blog/axelos-ppm-benchmark-report-2019

5 PMI (2020, January). PMI 2020 Signposts Report. 

6 Tables created by BLS : U.S. Bureau of Labor Statistics. (2023, April 25). https://www.bls.gov/oes/current/oes131198.htm#(1)

7 Smartsheet. (n.d.). SmartSheet Future of Work Management Report 2023. https://www.smartsheet.com/future-work-management-report

8 PMI (2023). Pulse of the Profession® 2023: Power Skills, Redefining Project Success PMI

9 Alexander, M. (2019). Project management guide: Tips, strategies, best practices. [online] CIO. Available at: https://www.cio.com/article/3243005/project-management-tips-strategies-best-practices.html . 

10 How to scale Agile and DevOps to the enterprise level in CSPs. (n.d.). Gartner. https://www.gartner.com/en/documents/3790268  

11 Minesotor, R. (2019, February 18). 9 Incredible Agile Project Management Statistics for 2018 You Need-To-Know – Foreign policy. Foreign Policy. https://foreignpolicyi.org/9-incredible-agile-project-management-statistics-for-2018-you-need-to-know/  

12 Hardy-Vallee, B. B. (2022, December 13). The cost of bad project management. Gallup.com. https://news.gallup.com/businessjournal/152429/cost-bad-project-management.aspx  

13 Calleam. (n.d.). What Makes a Good Project Manager? Retrieved from http://calleam.com/WTPF/wp-content/uploads/articles/Whatmakes.pdf  

14 Wellingtone. (2020, June). The State of Project Management Report 2020. Retrieved from https://wellingtone.co.uk/wp-content/uploads/2020/06/The-State-of-Project-Management-Report-2020-Wellingtone.pdf   

15 Project Management Institute (PMI). (2021). Talent Gap Report 2021. Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/career-central/talent-gap-report-2021-finalfinal.pdf?rev=a7ff58552b8645789b7f3dbe26d0402d&sc_lang_temp=en  

16 Project Management Institute (PMI). (2023). Global Job Trends 2023. Retrieved from https://www.pmi.org/learning/careers/global-job-trends-2023  

17 KPMG. (2022). KPMG PMI Project Management Survey 2022. Retrieved from https://assets.kpmg.com/content/dam/kpmg/cy/pdf/2023/kpmg_pmi_project_management_survey_2022.pdf

18 GlobeNewswire. (2023, February 15). Global Project Management Software Market Size to Exceed USD 15.08 Billion by 2030 with 10.68% CAGR. Retrieved from https://www.globenewswire.com/en/news-release/2023/02/15/2609119/0/en/Global-Project-Management-Software-Market-Size-to-Exceed-USD-15-08-Billion-by-2030-with-10-68-CAGR-By-Software-Services.html  

19 S crum Inc. (n.d.). Why 47% of Agile Transformations Fail. Retrieved from https://www.scruminc.com/why-47-of-agile-transformations-fail/  

20 Project Management Institute (PMI). (2020). PMI Pulse of the Profession 2020. Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/pulse/pmi-pulse-2020-final.pdf?v=2a5fedd3-671a-44e1-9582-c31001b37b61&sc_lang_temp=en  

21 Project Management Institute (PMI). (2016). Pulse of the Profession 2016. Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/pulse/pulse-of-the-profession-2016.pdf  

22 Digital.ai. (n.d.). 14th Annual State of Agile Report. Retrieved from https://explore.digital.ai/state-of-agile/14th-annual-state-of-agile-report  

23 Harrin, E. (2022, January 6). The 2021 Project Management Report. Rebel’s Guide to Project Management. https://www.girlsguidetopm.com/project-management-statistics/  

24 Project Management Institute (PMI). (2020). 2020 Salary Survey. Retrieved from https://www.pmi.org/learning/library/2020-salary-survey-11883  

25 Aston, B. (2023, November 28). Project Manager Salary Guide: Average By Country & Role 2023. The Digital Project Manager. https://thedigitalprojectmanager.com/personal/new-pm/project-manager-salary-guide/  

26 Suslov, E. (2023, October 19). Top 65+ Project Management Statistics for 2023. PPM Express. https://ppm.express/blog/project-management-statistics/  

27 Johnivan, J. (2023, October 23). Best Project Management Careers in 2023. Project-management.com. https://project-management.com/project-management-careers/  

28 U.S. Bureau of Labor Statistics. (2019, May). Occupational Employment Statistics. Retrieved from https://www.bls.gov/oes/2019/may/oes131198.htm  

29 PMI (2020). Ahead of the Curve: Forging a Future-Focused Culture. Pulse of the Profession. Retrieved from https://www.pmi.org/learning/library/forging-future-focused-culture-11908

30 Software AG. Guide to IT Investment Portfolio Management. Retrieved from https://www.softwareag.com/content/dam/softwareag/global/resource-library/alfabet/guide/it-portfolio-investment-management/guide-it-investment-portfolio-management-en.pdf.sagdownload.inline.pdf   

31 PM360 Consulting. (2023). Project Management Statistics, Trends, and Common Mistakes in 2023. Retrieved from https://pm360consulting.ie/project-management-statistics-trends-and-common-mistakes-in-2023/  

32 Zippia. Agile Statistics: Facts and Figures About Agile Project Management. Retrieved from https://www.zippia.com/advice/agile-statistics/  

33 McKinsey & Company. (2013). Large-Scale IT Project Management. Retrieved from https://www.mckinsey.com/~/media/McKinsey/dotcom/client_service/Corporate%20Finance/MoF/PDF%20issues/PDFs%20Issue%2045/Final/MoF45_LargeScaleIT.ashx  

34 PricewaterhouseCoopers (PwC). (2019). 22nd Annual Global CEO Survey. Retrieved from https://www.pwc.com/mu/pwc-22nd-annual-global-ceo-survey-mu.pdf  

35 KeyedIn. Why PMOs Fail: 5 Shocking PMO Statistics. Retrieved from https://www.keyedin.com/pmo-software/mastering-pmo-project-management/articles/why-pmos-fail-5-shocking-pmo-statistics  

36 Fine Media Botswana. (2024). Project Management Statistics. Retrieved from https://www.finemediabw.com/blog/project-management-statistics

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25+ Must-Know Project Management Statistics [2023]

Project management research summary. Project management is continually evolving to meet the demands of new technology. For this reason, project managers need to keep up with current trends to meet company goals.

If you’re a project manager who wants to know where the industry currently stands and where it might be heading, you’re in luck. We’ve gathered all of the most interesting trends and statistics about project management, and according to our extensive research:

77% of high-performing projects use project management software.

11.4% of resources are wasted due to inferior project management processes.

70% of global project management projects fail.

23% of organizations use project management software.

Companies’ relationships with project management

Project management should be a priority for companies, but this isn’t always the case. To find out more about the average company’s relationship with PM, we’ve gathered some of the latest insights:

46% of organizations make project management a cultural priority.

Despite the many signs that project management benefits companies, many still aren’t prioritizing it. For the less-than-half who do, meeting goals, staying within budget, and finishing projects on time is much easier.

86% of organizations can’t track KPIs in real-time.

Only 14% of organizations can track KPIs in real-time, with less than 9% of executives choosing to track them.

89% of organizations have at least one project management office (PMO).

The majority of companies do have at least one PMO, with the three types of PMO including:

Supportive PMO. This office assists companies needing minimal supervision for project management initiatives.

Controlling PMO. On top of offering all the features of a supportive PMO, this office also includes additional services.

Directive PMO. A single authority structure for consistency across many projects.

2.5% of companies report 100% project success.

With 70% of projects failing, the share of companies with a 100% success rate is incredibly low. In fact, companies are 27x more likely to have a project fail than be in the share that reports 100% success.

42% of companies don’t value the importance of project management.

While projects are complex, the significant failure rate can also be attributed to the over two-fifths of companies that don’t value PM.

61% of organizations provide project management training.

Going further, an additional 47% of companies establish a clear path for developing PM careers, putting them ahead of the pack.

52% of organizations apply at least one Agile methodology for most projects.

And there’s a reason why, as 64% of Agile projects are successful, compared to the 49% of Waterfall projects.

Project manager statistics

Project management software and success wouldn’t be possible without the project managers who toil away. To find out more about what it’s like on the job, here are some key facts and statistics:

59% of project managers work on 2-5 projects at a time.

This is by far the most common number of projects being run at one time, as only 15% of project managers work on only one project at a time, and only 15% work on 10+ projects at a time.

Average number of running projects at companies

80% of project managers report that they can’t get by without project portfolio management.

Being able to analyze and collectively manage projects according to a variety of key characteristics is vital for project managers working on many current and potential projects at once.

PMP certification increases PM salary by 16% on average.

While this is the average, some can expect a salary growth as high as 20% after project managers receive their certification.

81% of project managers use spreadsheets.

This is despite the risk associated with doing so, as 94% of project management spreadsheets contain errors.

Only 35% of project managers are at least somewhat happy with the systems they have in place.

The lack of making project management a cultural priority has led many in the field to be unsatisfied with the systems in place. Overall, half of all project managers are not happy with these systems.

61% of project managers apply defined project management methods to each project.

Lack of organization can cause significant issues for project managers on the job, but the majority don’t apply defined methods.

There are over 426,000 project managers employed in the US.

Of this large number, 31.1% are women, and 68.9% are men, meaning that male employees outnumber their female counterparts by over 2 to 1.

Benefits of project management

Effective project management comes with many benefits, from cost-saving error reductions to more profitable ideas. To learn more about the benefits of project management, here are some key facts:

54% of workers who spend up to 5 hours on automatable tasks.

That’s bad enough, but a further 16% waste a shocking 10+ hours on tasks that could be automated.

73% of organizations that use a formal project management approach meet their goals.

Companies that pursue formal project management methods are more likely to meet their goals, whether completing projects on time or within budget.

Project statistics

Every project is different, with some being more successful than others. Here are some essential project statistics:

63% of those with formally managed projects completed them within budget.

Formally managed projects are far more likely to be completed successfully, with 59% delivered on time. Conversely, only 48% of non-managed projects are completed within budget, and 43% are delivered on time.

45% of projects have active sponsors.

It’s essential for projects to have active sponsors, as 62% of successes had actively supportive sponsors.

Only 40% of projects deliver their full benefits.

Even after a time-consuming process, the majority of projects fail to deliver their full benefits. In fact, only 35% of projects are considered successful when completed.

Project failure statistics

Project failure is unavailable, especially when most projects aren’t successful. However, that doesn’t mean companies can’t learn from their mistakes. Here are some examples of failure and why it occurs in project management:

50% of projects fail due to a poor requirements definition.

That’s the leading cause of project failure, with others among the top three, including inadequate risk management (17%), and a poor scope definition (15%).

Top reasons why projects fail

37% of projects fail due to a lack of clear goals.

A lack of clear goals prevents the effective use of project management methods, ultimately making it far more likely for a project to fail.

55% of projects cite budget overruns as a reason for failure.

Given that only 48% to 59% of projects stay within budget, it’s unsurprising that going over budget is a regular issue for project managers.

39% of projects fail due to poor planning.

Successful projects require a budget and deadline, but many aren’t planned well. This then causes a cascade of issues that doom the project to failure.

Project Management FAQ

What is the success rate of projects?

The success rate of projects is 56%. However, many factors go into this rate. For example, project teams with a mature system usually meet 77% of their goals, and formally managed projects are more likely to be completed on budget and on time.

Project success can be surprisingly uncommon, as only 2.5% of companies are 100% successful with all their projects.

On the contrary, many factors cause projects to fail. The truth is that 70% of global project management projects fail due to a lack of goals, timely execution, and poor communication.

Are project managers going to be replaced by AI?

No, human project managers will not be replaced by AI. While project managers don’t have to worry about their jobs being consumed by AI, new technologies will bring changes.

Rather than focusing on administrative tasks, AI will instead take over more data-driven tasks. This leaves project managers to hone their leadership and team motivation skills. With more time on their hands, project managers can focus on the planning and communication aspects of their role.

What is the value of a project manager?

Project managers are valuable because they ensure projects are running smoothly and communicate the state of the project with other company members. Project managers assist their teams in fulfilling responsibilities for a project and address any challenging issues that may arise.

Additionally, project managers also play a role in vital planning, establishing goals aligned with client or company needs, and ensuring the team successfully delivers the final product within the specified deadline.

Is project management a high-value skill?

Yes, project management is a high-value skill. Having project management as a skill shows you’re communicative, well-organized, and capable of critical thinking and resourcefulness.

In fact, project management is regularly listed among the top 10 most important skills for earning a high income.

Why do 70% of projects fail?

There are many reasons why projects fail. For instance, 44% of projects fail due to unclear goals, and 30% fail due to poor communication. But there are many other reasons as well, including:

Scope Creep. When a project begins to extend beyond its original purpose, this can be cause for concern. Uncontrolled changes can eventually cause delays and inefficiencies.

Overallocated Resources. When resources aren’t clearly allocated, it can cause certain projects to receive too many, even if they’re failing. Issues can also arise when too many projects are going on simultaneously, consuming too many resources collectively.

Bad Stakeholder Management. Poor communication with stakeholders can also cause projects to be delayed, underfunded, or stray from their original goals.

Unreliable Estimates. Poor estimates can cause projects to fail, as they lead to flawed schedules, unachievable objectives, and increased risk.

No Risk Management. When risk management isn’t accounted for, projects can take on more than they can handle.

Lack of Team Planning Sessions. When teams don’t have a chance to meet up and discuss projects, communication can fall off the wayside.

The project management industry is volatile and ever-changing, but there are steps companies and project managers can take to ensure success. Knowing that 37% of projects fail due to a lack of clear goals and 55% fail from going over budget, for example, is an important step toward avoiding those problems.

Besides the basics like improved communication, time management, and prioritizing culture, there are other vital lessons project management businesses can learn. Companies with proven PM practices waste 28x less money, and those with formally managed projects are more likely to follow budgets and deadlines.

Overall, despite the risks associated with projects, knowing the facts and analyzing current trends is crucial for current project managers.

Vitality – 77% of High-Performing Teams Use Project Management Software

HubSpot – The Complete Guide to Project Management Basics

Geckoboard – US SMBs Who Set and Track Key Metrics Are 2x More Likely to Hit Targets

Project Managers – Implementing a Project Management Office: 4 Steps to Success

PMI – Earning Power: Project Management Salary Survey—Twelfth Edition

Lumeer – Risks of Using a Spreadsheet for Project Management

LinkedIn – Why Projects Fail?

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Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.

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40+ Project Management Statistics

Great project managers know how to use the right plans and processes to deliver projects on time and on budget. Many oversee multiple projects at the same time, directing teams across departments to hit milestones until the project crosses the finish line.

With the help of project management frameworks and software, project managers help organizations launch new products, offer new services, or improve internal processes.

Are today’s companies getting the most out of their project management teams?

Keep reading to see the state of project management today and in the future.

Top Project Management Statistics

Before you dive into the full report, take a moment to go over some of the top project management statistics and current trends:

• The project management software market is projected to reach $15.08 billion by 2030 .
• 54% of project management professionals say they lack effective collaboration technology.
• 85% of project managers oversee multiple projects at the same time.
• 91% of project management professionals say their organizations face project management challenges.
• 37% of project managers have considered leaving the profession in the past year.

The State of Project Management

Project management practices can look wildly different across organizations. Some companies have well-established PM best practices while others manage projects on the fly—often without a person in an official “project manager” capacity. These stats reveal the state of project management today.

The project management software market is projected to reach $15.08 billion by 2030 ( Zion Market Research )

The PM software market was valued at  $6.1 billion in 2021 . Experts predict it will experience a 10.68% CAGR throughout the 2020s . Increasing demand for cloud-based project management solutions is a key driver behind the market’s future growth.

91% of project management professionals say their organizations face project management challenges ( Smartsheet )

Challenges arise from employees being moved from project to project (45%), remote work (40%), and extended time leave (34%). Moreover, 85% of those who report organizational hurdles say they experience burnout from projects moving too quickly or with unrealistic deadlines.

85% of project managers run multiple projects at the same time ( RGPM )

The vast majority of project managers run a portfolio of projects. Between two and five projects is most common , with 59% of project managers falling within this range. 11% run between six and 10 projects and 15% run 10 or more .

Experienced project managers are more likely to run large amounts of projects simultaneously. 22% of experienced PMs run 10 or more projects.

44% of project managers say lack of resources is a top challenge ( RGPM )

What are the top challenges facing project managers today? A 2023 survey of 217 project management professionals asked that very question. The top answers:

• Not enough resources (44%)
• Unrealistic deadlines (31%)
• Not the right resources (26%)
• Insufficient budget (17%)
• Poor project quality (13%)
• Lack of schedule (11%)

37% of project managers have considered leaving the profession in the past year ( RGPM )

Less than 30% of new project managers are looking for a career change, but it’s a different story with more experienced PMs. 41% of project managers with some experience and 35% of very experienced PMs have thought about leaving the profession.

37% of project managers are satisfied with their organizations’ level of PM maturity ( Wellingtone )

70% of project managers rate their department’s level of maturity at a 3 out of 5. Only 55% give their entire organization the same rating.

What does level 3 maturity look like? According to Asana , level 3 organizations have project management standards in place, but have yet to use past metrics to inform future strategy.

45% of project managers say their organization has a track record of project success ( Wellingtone )

Less than half of organizations exhibit consistent project success. Only  34% complete projects mostly or always on time . 34% complete projects mostly or always on budget. And 36% mostly or always deliver full project benefits.

Documentation is the most common task project managers wish to eliminate ( RGPM )

When asked about the one task project managers would eliminate, 20% said documentation. Other tasks high up on PMs “least favorites” are meetings (11%), chasing teams (11%), budgets and procurement (10%), non-PM duties (8%), studying (6%), and planning and scheduling (5%).

43% of project management professionals feel that project teams are understaffed ( Smartsheet )

Nearly half of PM professionals claim their teams don’t get the support they need. But there’s a disconnect between project management teams and C-suite executives. Only 20% of executives agree that project teams are understaffed.

There’s a disconnect in future outlooks as well. 60% of executives say they’re taking the right steps to help projects succeed more often in the future. Only 36% of project management professionals agree.

Successful projects lead to higher job satisfaction ( Smartsheet )

When projects go well, employees tend to be happier. After a successful project,  54% of employees say work feels more satisfying and 54% say they experience less stress. 49% feel more in control at work and 42% report better focus.

Organizations that don’t prioritize soft skills lose 47% more of their budgets due to project failure ( PMI )

Soft skills are key ingredients for success in project management teams. Organizations that prioritize soft skills have a 72% project success rate compared to 65% in organizations that don’t.

40% of projects in organizations that don’t prioritize soft skills experience scope creep , compared to 28% of projects in soft skill-focused companies.

Project Management Software Statistics

Project management software is critical for organizations to deliver projects on time and on budget. Software solutions offer a complete view of projects, from the big picture down to the most granular tasks. Here are some of the latest PM software stats.

Jira leads the project management software market with a 20.59% market share ( Datanyze )

Over 34,000 organizations use Atlassian’s Jira software for project management, making it the most widely used software on the market today. Other key players are  Microsoft Project (16.01%) , Airtable (8.55%) , Kanban (8.18%) , and Smartsheet (6.98%) .

54% of project management professionals say they lack effective collaboration technology ( Wellingtone )

Technology limitations can hamper project management teams. 36% of project management professionals say they spend between four hours and one day manually collating project status info every month. Annually, that’s 50-100 hours wasted per person on manual tasks.

Only 23% of project management professionals use PPM or Resource Management software ( Wellingtone )

Over one quarter of project managers say they build project schedules manually using Excel, Word, or PowerPoint. 54% don’t have the technology to track KPIs in real-time.

71% of project management professionals say their organizations’ use of collaboration software has increased over the past 12 months ( KPMG )

43% said they’ve seen a significant increase in collaboration software adoption. Microsoft Teams is the most prolific collaboration software, with 88% of PMs reporting using it in their organization. 64% also use SharePoint, while 27% use Confluence.

Project Management Career Statistics

With so many organizations struggling to manage projects, what are the career prospects for project management? These stats examine what the field looks like today and what the future may hold for project management job-seekers.

The median pay for US-based project management specialists is $94,500 per year ( BLS )

The top 10% of US-based project managers  earn more than $159,140 per year, while the bottom 10% earn less than $49,750 . Salaries trend higher in finance, insurance, and professional services and lower in construction.

BLS predicts 70,400 job openings for project managers per year through 2030.

Earning new certifications is the top career goal for project managers ( RGPM )

When asked what their top career goal was, 21% of project managers said getting certified. 20% said getting a new job outside their current company, while 19% said getting a new role within their organization. Other top goals are working on bigger projects (17%) and delivering higher quality projects (7%).

Women make up just 28% of project management professionals ( KPMG )

Project management is a male-dominated profession. The Project Management Institute’s 2023 report featured an in-depth study of women in project management. Here are some of the more notable stas from that report:

• Female project managers have the highest representation in healthcare (41%), education (37%), and financial services (29%).
• The median salary for women is 12% less than men in the United States.
• Women are 3.6% more likely to use agile and 5.4% more likely to use hybrid project management approaches.

51% of project managers don’t hold any certifications ( KPMG )

31% of project managers have a PMP or other PMI certification. 13% have a PRINCE2, MSP, or other Axelos certification. Many are still new to the field:  41% of project managers have five or less years of experience.

Communication is the most important skill for project managers to develop over the next five years ( KPMG )

When asked about the top skills project managers would need to improve in the next five years, 35% of executives and PMs mentioned communication . 33% said the ability to drive change within organizations would also be a top skill, and 30% mentioned leadership. Other top skills of the future are conflict management (26%), and agile methodology expertise (25%).

Across every industry, organizations are undertaking complex projects to meet the evolving needs of their customers.

But too often, companies drop the ball on project management. Lack of formal project management processes, employee burnout, and the new remote work landscape are all challenges organizations need to overcome if they wish to stay competitive.

Successful project teams have a strong project manager at the helm and the resources (time, budget, and talent) to ensure even the most complex projects meet their goals.

For more statistics on similar topics, take a look at Future of Work (2023-2026) , 47 Key Digital Transformation Statistics , and 51 Employee Productivity & Engagement Statistics .

Find Thousands of Trending Topics With Our Platform

The State of Project Management in 2023 [42 Statistics]

Project management team collaboration software improves internal and external workplace communication by creating clear project timelines and outlining related employee responsibilities. 

Every year, poor communication costs small businesses with under 100 employees $420,000 and companies with over 100,000 employees over $62 million . 

The rise of the remote workforce means there is a higher potential for costly miscommunications than ever before. 

The below project management statistics show how workflow management tools like Monday.com and Asana lead to high-performing projects. 

Project Management Help Teams Adjust to Remote Work

The coronavirus pandemic and resulting social distancing at the start of 2020 forced companies that hadn’t already done so to transition to a remote workforce.

While there are numerous remote work benefits like increased job satisfaction and cost savings , the especially suddenness of the transition has its downsides.  

The below project management statistics highlight some of the problems the remote workforce faces. These problems can be solved through the use of workflow management features like task assignment and employee workload overviews.  

• 88% of remote workers face inconsistent leadership and miscommunications with other team members
• 83% of employees report feeling burnt out by a high volume of emails
• COVID-19 has increased employee burnout by 12% in two months
• 73% of employees report burnout
• 20% of employees cite an unmanageable workload as the number-one cause of burnout 

(source: b l ind , Workplace Insight ) 

The Benefits of a Project Management System

Using project management methodologies , PM software, and having a project scrum master unites a remote workforce and increases project success rates. 

According to the Pulse of the Profession study from the Project Management Institute, businesses with a clear project management structure in place have 38% more successful projects that met their original goals than those that did not.   

Having a PMO led by a project management professional means companies adopt a clear, standardized approach to project management. A project management office has the necessary soft skills risk management needs to prevent problems like schedule overrun. 

Additional statistics showing the value of project management are: 

• Only 21% of companies have standardized project management systems like waterfall and agile in place  
• 1 in 6 IT projects have a cost overrun of 200%
• IT projects with a budget of at least $1 million are 50% more likely to fail to meet business objectives
• 41% of businesses with a high project failure rate blame a lack of involvement from higher-ups in project management 
• 41% of organizations reporting poor project performance say they don’t get enough support from project management and project sponsors
• Project management challenges cost businesses $109 million for every $1 billion invested in a project

(sources: Gallup , Wellingtone , PMP Gartner , PMI , UM Saint Louis )  

Project Management Statistics On Staying Within Budget

Productivity hacks and solutions offered by project management tools speed up project timelines and there is lots of marketing content on how to do improve your performance out there. However, working faster can negatively impact resource management, causing projects to go over their original budget. 

Tools like Wrike and Basecamp offer pre-made project templates that help managers to clearly stay within the budget. Project management software also includes cost estimation tools, ensuring that team leaders set an accurate budget from the start. But id you need something specific, you can always use  custom AI development services .

The below project management statistics show just the cost of poor project management and how much the right software can save companies.

• 66% of companies using project management software completed projects within their original budget, compared to  47% of businesses operating without a project management tool
• Companies that develop project management practices save 28 times more money than those that do not
•   47% of companies using free project management software say it’s had a positive impact on the accuracy of project cost estimates 

(sources: PMI , Harvard Business Review , PMI , Capterra )

Project Management Statistics on Project Timelines 

Popular project management tool features like time tracking and timeline Gantt charts help to speed up projects by accurately measuring how long certain tasks will take. This allows team leaders to create more precise timelines in line with business intent. 

Additional features like task automation, automatic organizations report generation, and email integration eliminate time-consuming tasks without requiring employee technical skills. 

Workflow management platforms like Monday and Asana also include features like real-time chat messaging, post-it note style Kanban boards, and comment tagging. This ensures that users don’t miss important suggestions or team-wide announcements. 

The below project management statistics further illustrate how the right tools can save time and increase business performance. 

• Project management software saves the average employee 498 hours per year
• 61% of companies using project management tools completed projects on time, while only 41% of those not using them did
• 50% of project managers spend at least one full business day manually developing project KPI reports 
• 80% of employees spend half of their workweek on “rework” caused by poor communication 
• Close to 46% of team leaders say hitting project deadlines is their biggest problem
• Time tracking is the second most-requested project management feature 

(source: PMI , Wellingtone , Geneca , Capterra , Workzone , Capterra ) 

Project Management Features Improve Team Collaboration

Project management software offers the biggest benefits to team communication and collaboration. 

Team collaboration features within project management tools include the ability to assign tasks and subtasks in a checklist format, and the ability to assign multiple employees to a singular task. Task prioritization features show employees which projects they should focus on first, and in-app file sharing and real-time editing make it easy for team members to collaborate on documents. 

Polling tools and online whiteboards allow team members to brainstorm and explain concepts to one another. They also ensure that employees feel their voices are heard in the workplace. They also do wonders for SaaS apps such as Fresha , the massage booking software.

The following project management statistics highlight the importance of these team collaboration features. 

• 90% of projects require team participation as opposed to individual responsibility 
• 31% of companies say that miscommunications about project objectives is the number one reason why projects fail
• 59% of workers in the United States say communication is their biggest obstacle 
• 29% of American workers say a lack of accountability interferes with project success
• File sharing is the most requested project management software feature
• Over 62% of high-performing companies use real-time document editing and file version control features
• Unmet or unclear task dependencies account for 12% of project failures 
• 45% of team members say Gantt charts are their most used project management feature
• 55% of team members say project objectives are unclear
• Only 9% of company executives are satisfied with their workplace time allocation
• 40% of project managers spend most of their time micromanaging employee responsibility and answering questions over email
• ⅓ of the American workforce believes managers don’t listen to their ideas
• 71% of business executives say employee engagement is one of the top factors in project success
• Only 52% of executives say their employees’ time allocation matches company priorities 

(sources: Capterra , PWC , Geneca , McKinsey , Achievers , Atlassian , Smarp )

The Most Popular Project Management Platforms

The most popular project management platforms are those that have many different inter-departmental use cases. In addition to project management, these tools also help to manage HR departments with all their challenges , IT projects, sales teams, and more.

In addition to the features mentioned above, team leaders also look for platforms with multiple board-based view options, including:

• Kanban view
• Calendar view
• Gantt/Timeline view
• Location view 

The most popular workflow management tools are Asana , Wrike, Monday.com, and Basecamp. The below   

• 56% of companies use only one project management software 
• 44% of project managers are not currently using project management software
• 76% of executives say agile project management tools will be the new normal 
• Monday.com is used by over 100,000 teams across 201 industries
• Google, Yelp, Deloitte, and Airbnb are all Asana customers
• Basecamp surpassed 3 million users in 2020
• Over 20,000 companies currently use Wrike, including Hootsuite and L’Oreal 

(sources: PWC , Capterra , KPMG , Monday.com , Basecamp , Asana , Wrike , Whop ) 

Other Features to Look For

Integrations with popular web conferencing software , task status updates, and the ability to set project dependencies are additional features to look for when evaluating free project management apps . 

The above project management statistics prove that these apps increase employee productivity, improve team collaboration, and save companies time and money. They also free up project managers, allowing them to focus on more important tasks. 

Nandini Sharma

30 Authentic project management statistics you cannot afford to miss! 

Ask any project manager what it’s like to manage projects (and teams) and they are likely to tell you that it’s not a walk in the park by any means.

Managing even seemingly simple projects can take a toll not only on project managers but also on the organization’s valuable resources; let alone handling larger, complex projects.

It is said that numbers don’t lie and quite rightly so.

As a project manager juggling various responsibilities , wouldn’t it be easier for you to have accurate numerical information related to various aspects of project management? 

Of course, you would!

When you have the latest project management statistics to refer to, it gets a whole lot easier to make well-informed decisions as you have factually correct information related to:

• The state of project management across the globe
• Factors responsible for project failures and success
• Most popular project management tools used by project teams
• Widely used project management methodologies

We understand the challenges that project managers face while handling teams and projects daily. So, to make your lives a bit easier we have compiled the well-researched project management statistics for you.

So, let’s dig deeper into the vast ocean of project management and fetch some eye-opening insights, which we can use to our advantage during the planning and execution of projects.

30 Important project management statistics you should know

1) the project management software is expected to grow at a cagr of 10.67%.

This stat highlights the widespread adoption of project management tools across the globe. According to a report by Straits Research , the project management software market is experiencing rapid growth. With a value of USD 6 billion in 2021, it’s projected to soar to USD 15.06 billion by 2030, boasting a remarkable CAGR of 10.77% from 2022 to 2030.

 2) Only 1 in 4 organizations use PM software

This project management statistic is in contrast to the first one. Despite the project management software market witnessing healthy growth, its adoption rates are still on the lower side. Only 25% of companies use it in any capacity. The rest are working with Excel, paper, or below-par tools. As a result, 75% of organizations are unable to track KPIs in real time. If you are among 75% who don’t use it then you know who to blame if your project fails!

3) Organizations end up wasting 12% of their valuable resources due to poor project management

Wastage of valuable resources is something that startups and small companies cannot afford. Many project managers often complain about the time wasted on repetitive and tedious tasks. As a result, inefficient project management processes cause nearly 12% wastage of organizational resources . This can be brought down by adopting a proactive approach and smart project management.

4) More organizations have centralized PMOs

57% of organizations opt to use a centralized PMO, which is a testament to the increasing importance of project management and cross- project dependency management .

5) Most managers are managing multiple projects

Only 15% of project managers focus on a single project at a time. They are lucky ones indeed! Because most managers are managing multiple projects at the same time ; some of them are handling five or even up to ten projects. Considering such a hectic workload, project managers can get overly stressed and easily lose control over projects and teams, leading to project delays or even worse, project failure. Using a  powerful work management and team collaboration tool like ProofHub can help project managers have a Bird’s-eye view of every project they are working on.

6) Most project managers are not happy with the technology they are using

If project managers are not happy with the technology they are using then how can you expect them to deliver the goods as expected? A study by Wellingtone in 2020 showed that only 35% of marketers were moderately or fully satisfied with the project management tools they were using. 52% of respondents reported dissatisfaction.

7) Good project management means fewer costs to organizations.

Every business, small or large, wants to keep its operating costs down while generating maximum revenue. Organizations that invest in tried and tested project management practices end up spending 28x less money as they can complete their strategic initiatives successfully. Capterra’s recent market research report discovered that a PM tool helps organizations to better estimate a timeline, which results in lower costs to companies.

Want to save money while delivering high-quality projects successfully? Let ProofHub be your project management ally.  Start your free trial !

8) Most used and requested features in digital PM software.

There are so many project management software today that offer an array of features to users these days. Capterra reports that file sharing, email integration, Gantt charts, Time tracking, and Budget management are five of the most used features in project management software.

9) 54% of the workforce believes they would save more than 5 hours by using automation tools

A survey from Monday.com found that 54% of the workforce believes that by using tools that automate tasks, they would be more productive and efficient at work as it can help them save more than 5 hours at work. 24% of respondents found time-consuming, tedious data input to be the biggest time sucker at work. Over 70% said that they would like to use automation tools for routine and repetitive tasks.

10) Many organizations don’t have access to real-time project KPIs

Wellingtone’s The State of Project Management Report (2020) states that despite companies facing immense pressure to manage projects on a greater scale, 54% of companies don’t have access to real-time project KPIs. 25% of respondents in this report said they don’t have access to the right technology to collaborate on information projects in their business.

11) Only 2.5% of companies completed 100% of their projects successfully

Many companies want to score 100/100 when it comes to completing and delivering their projects. They want to achieve this goal with every project, but only 2.5% of companies can boast of this accomplishment. These companies can execute projects as planned due to efficient resource management and tracking at every stage of the project.

12. Hybrid project delivery is the most common approach

A survey of 220 project managers by Rebel’s Guide to Project Management showed that around 60% of project managers are using the Hybrid project delivery approach, which is a blend of Waterfall and Agile methods . Another revealing fact is that the hybrid delivery approach is preferred by project managers at all levels of experience, and not just seasoned professionals. 

13) Most project teams are compact

Project managers find it easier to manage small project teams than larger ones. The good news is that 40% of project teams comprise 6 to 10 people . 30.5% have more than 10 people; another 30.5% are composed of 1-5 people. Having too many people to manage can make it challenging for project managers to maintain team engagement and accountability at the same time

14) IT project failure rates correspond heavily to project size

Interestingly, bigger budgets always aren’t better when it comes to project management. Rather, the higher the budget, the more the chances of the project failing. 57% of companies exceed their allocated budget , and projects with budgets of more than $1 million are 50% more likely to fail as compared to the ones with a budget of less than $350,000.

15) Many organizations consider investing in new software as expensive

Of course, investing in a new project management system will cost an organization some amount of money. 56% of organizations find new software costs too high. However, considering the crucial benefits of using such a tool for project teams and organizations, it can be said that it’s worth it.

Not all project management software solutions are expensive. ProofHub offers flat-rate pricing plans with unlimited users! Subscribe today and save BIG!

16) PM software helps to improve team communication

Another crucial project management statistic that you cannot ignore. It is a fact that swift, transparent communication is one of the keys to successful project performance. Teams using project management software with inbuilt communication features have reported a 52% improvement in team communication, which has further improved transparency within the organization. 44% said that it improved the quality of the final product, and 38% said that it improved customer satisfaction.

17) High-performing teams use project management software

What is the secret behind the success of high-performing teams? A study conducted by PWC found that 77% of high-performing teams use good project management software that offers a wide variety of inbuilt features. These features help users to manage various aspects of work from a single platform rather than switching between various applications.

18) The US is the biggest market for project management software

SaaS tool makers eye the biggest market where they can sell their products in good numbers. Currently, the United States is the biggest market for this technology, with 29.6% of the market share . That said, China has shown a lot of promise as one of the leading markets with a projected growth of 7.4% in the next seven years.

19) Many organizations are providing project management training

Project management is a growing and promising career option and many organizations recognize this fact. A PMI report from 2021 has shown that 61% of companies provide some kind of project management training. In the same report, around 47% of companies have said that they have defined specific career paths for project managers.

20) Confusion surrounding job roles & responsibilities is a potential hurdle to a project’s success

38% of organizations believe that vagueness surrounding job roles and responsibilities is the biggest obstacle to a project’s success. If you face a similar problem then you can use good work management software with an inbuilt task management tool , which will help you to create, allocate, and monitor tasks from a centralized location.

21) Hectic workload is one of the main reasons for employee burnout

20% of workers have reported that a hectic workload is the main reason for employee burnout.  Often, this happens because managers do not allocate tasks evenly. Some employees end up with more tasks they can handle while others end up with too little work to do. This uneven distribution of tasks can lead to some of your employees feeling stressed out and reaching the stage of potential burnout.

22) Lack of clear goals and vision leads to project failures

There can be many reasons for project failures , but the lack of clear goals and vision is the most common factor  (37%) . Project managers should use Gantt charts or Boards to have a clear visualization of their project and deliverables.

23) The average salary of a project manager in the US is $94,995

Based on the data collected from anonymous PM employees in the US, a BuiltIn survey has reported that the average salary for a Project Manager in the US is $94,995. The average additional cash compensation for a Project Manager in the US is $10,287. The average total compensation for a Project Manager in the US is $105,282.

24) Rework is such a waste of time

Rework leads to time wastage and also is a big cause of project failure. 80% of respondents in a Geneca survey said that they spend half their time on rework, which leaves them with little time to work on other tasks at hand.

25) Stress is taking its toll on project managers

Managing multiple projects simultaneously and relentless pressure to meet deadlines can take its toll on even the most efficient project managers. Though perks are quite good, 1 in 5 project managers has admitted to considering leaving their job.

26) Hybrid is the most common delivery approach

60% of project managers use the Hybrid approach i.e. the combination of Waterfall and Agile methods to deliver their projects. It’s something that both experienced and new project managers use as the most common delivery approach.

27) Project managers “dislike” project documentation

20% of project managers have said that project documentation is the first thing they would want to see the back of as they find this as a process that delivers low value and takes up a lot of time and effort as well.

28) PMP certification helps managers earn more

Project managers with PMP certification earn 23% more in salaries as compared to those who are without it. So, get this certification, further your education, and achieve more financial growth than others.

29) Project management professionals are in high demand

A report by the Project Management Institute said that around 25 million new project management professionals will be required by 2030, and a loss of around USD 345 billion in global GDP is estimated by that time in case of a shortage of project management talent.

30) PM software helps the average employee save 498 hours per year

Every business and every professional wants more time to do things, but many people struggle to meet deadlines and achieve the desired productivity.  The project management success statistics show that workflow management software helps employees save 498 hours on average per year.

The final word

As we reach the beginning of 2024, project management statistics reveal an important piece of information about recent developments in this fast-growing industry. Project managers and organizations should refer to these accurate statistics while implementing strategies and making important decisions in projects.

  Using efficient work management and team collaboration software can enhance your chances of project success by streamlining your workflow and organizing all your work in a centralized location.

ProofHub is one such tool that can enable you and your project team to achieve enhanced productivity and collaboration in the most simple way possible.

Why are project management statistics important?

Project management statistics are important because they represent an accurate picture of the state of project management across different industries across the globe.

What are some top project management tools?

Some of the best project management tools available today are ProofHub, Wrike, Basecamp, Trello, and Teamwork. Of all these tools, ProofHub offers the most value for its price.

What are five major project management variables?

Five major project management variables are – time, scope, cost, quality, and risk.

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100+ Project Management Statistics & Facts (Updated 2024)

Richi Gupta

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Richi Gupta, a Lead Product Analyst, excels in systems integration and translating complex business needs into actionable tech strategies. Her attention to detail, coupled with exemplary project management skills, drive ... Read more

Richi Gupta, a Lead Product Analyst, excels in systems integration and translating complex business needs into actionable tech strategies. Her attention to detail, coupled with exemplary project management skills, drive her success in product feedback management, competitive analysis, strategic planning, and budget management. As a valued member of the ProProfs Survey Maker Advisory Board, Richi's primary objective is to deliver precise and coherent content, ensuring alignment with the company's strategic vision and objectives. Read less

Project Management Expert

David Miller, a seasoned Senior Project Manager at ProProfs with over two decades of diverse expertise, shares impactful insights on project management, leadership, and personal development through his writing.

Project management is an essential part of every organization.

Whether you are overseeing a team or leading major projects and their execution process, it is essential to keep everything in line to ensure project success .

In the long run, it is the project management techniques adopted by managers that either make or break the organization. 

But, how do you know which technique works?

How will you know what is the best way to manage your teams ?

Why do projects fail even if your PM technique is usually full-proof?

Well, it is best to know the latest PM stats and trends to know what works and what doesn’t.

And, that’s exactly what we cover in this blog. We bring to you 100+ project management stats you must know to streamline workflow, manage teams efficiently, and ensure successful project execution.

“Reasons for Project Failure” Statistics

1. 37% of projects fail due to the lack of defined project objectives and milestones. (Source: PMI ) Tweet this

2. 55% of organizations do not have access to real-time project KPIs. (Source: Wellington ) Tweet this

3. 70% of projects are prone to failure. (Source: 4pm ) Tweet this

4. 44% of projects fail due to a lack of alignment between business and project objectives. (Source: PMI ) Tweet this

5. 80% of organizations report that they spend at least half their time on rework. (Source: Geneca ) Tweet this

6. 50% of projects that fail have a budget of over a million US dollars.  (Source: Gartner ) Tweet this

7. 27% of projects usually run over-budget. (Source: PMI ) Tweet this

8. Only 36% of projects are completed when they are executed by low-performing companies. (Source: PMI ) Tweet this

9. 46% of companies have come forward to accept that they do not understand the need or importance of project management. (Source: PMI ) Tweet this

10. 31% of companies claim a lack of a common vision is the most common reason why projects fail. (Source: Geneca ) Tweet this

11. One-third projects fail due to lack of senior management involvement in crucial project decisions. (Source: University of Missouri-St. Louis ) Tweet this

12. 41% of underperformers and 17% of champions state that the main reason why projects fail is inadequate sponsor support. (Source: PMI ) Tweet this

13. 47% of projects fail to meet their goals due to poor management of requirements. (Source: PMI ) Tweet this

14. Attempting to run too many projects is the biggest reason for project failure among 37% of organizations. (Source: Wellingtone ) Tweet this

15. 50% of organizations say they do have a track record of project success. (Source: Wellingtone ) Tweet this

16. 75% of companies say that they lack confidence when it comes to project success. (Source: Geneca ) Tweet this

17. The 3 root causes of project failure are inconsistent execution, lack of continuous team improvement and poor scalability. (Source: Enkillc ) Tweet this

18. 56% of companies are dissatisfied with their current level of PM maturity. (Source: Wellingtone ) Tweet this

19. 38% of companies believe that the greatest barriers to success are the confusion about team roles and responsibilities. (Source: Geneca ) Tweet this

20. 23% of organizations reported that they are always in agreement when a project is complete. (Source: Geneca ) Tweet this

21. 20% of companies say that their IT requirements process is not the articulation of business need. (Source: Geneca ) Tweet this

Takeaway: 

There is not one reason why projects fail, and with the above mentioned project failure statistics, it is important to understand the need for a well-defined and streamlined project management system that helps in streamlining workflow and ensuring proper project execution.

“Reasons for Project Success” Statistics

22. 87% of high-performing managers believe that mature delivery capabilities can minimize risks, control costs, and increase value. (Source: PMI ) Tweet this

23. 45% of PMOs have clearly defined roles and responsibilities. (Source: Wellington ) Tweet this

24. 89% of high-performing companies tend to complete projects successfully. (Source: PMI ) Tweet this

25. 76% of high-performing organizations use strategic initiatives to meet business intent and original project goals. (Source: PMI ) Tweet this

26. 37% of projects are almost always delivered in time. (Source: Wellingtone ) Tweet this

27. 58% of organizations report more defined processes and practices as their key step to project success. (Source: PMI ) Tweet this

28. 45% of high-performers recognize and develop their employees’ skills as required. (Source: PMI ) Tweet this

29. 35% of projects almost always deliver full benefits. (Source: Wellingtone ) Tweet this

30. 56% of projects (on an average) are bound to succeed with proper talent and change management. (Source: PMI )  Tweet this

31. 94% of companies agreed that project management is crucial for business growth. (Source: Capterra ) Tweet this

Understanding the importance and value of project management is the key ways to ensure project success. Other than that, with well-defined processes and practices, the chances of project success automatically increases. 

Adopting Project Management as a Practise 

32. Kaizen, a lean project management technique, has shown immense growth in employee social satisfaction and well-being. (Source: SAGE Journals ) Tweet this

33. Employee retention is expected to increase by 10% by 2020 due to organizations giving their employees the option to choose their own work style. (Source: Gartner ) Tweet this

34. 21% of organizations use a set of standardized project management practices. (Source: PMI ) Tweet this

35. 55% of project managers tend to create a scope document before executing projects. (Source: Wellingtone ) Tweet this

36. 28% of companies have reported using project performance techniques. (Source: PMI ) Tweet this

37. The global project management industry is projected to grow by $6.61 trillion. (Source: PMI ) Tweet this

38. Process maturity is more prevalent among high-performing organizations. (Source: PMI ) Tweet this

There is a big difference between understanding the importance of project management and actually implementing it efficiently. In today’s world, project managers have started adopting advanced project management practices in their organization as they understand why it is important and how it needs to be implemented.

Industry-Based Project Management Facts

39. In the US, there was a 17% increase in project-oriented jobs in the health sector. (Source: PMI ) Tweet this

40. 80% of federal IT projects were self-described as ‘iterative’ or ‘Agile’ in 2017. (Source: Deloitte )  Tweet this

41. 25% of participating managers feel the business team is almost “always out of sync”. (Source: Geneca ) Tweet this

42. 93% of communication service providers are using agile project management methodologies. (Source: Gartner ) Tweet this

43. 55% of IT managers reported they have an understanding of the business objectives of their IT projects. (Source: Geneca ) Tweet this

44. 5% of businesses claimed that project cost is the main issue faced by project managers while handling manufacturing projects. (Source: Foreign Policy ) Tweet this

45. IT project failure rates range between 5% to 15%. (Source: Gallup ) Tweet this

46. 75% of business executives who implement software projects believe their projects will fail. (Source: Geneca ) Tweet this

47. IBM has three goals for project success – a check on the project schedule, quality, and budget. (Source: IBM )  Tweet this

48. 17% of IT projects fail so miserably that they could threaten the company’s existence. (Source: Calleam ) Tweet this

49. 75% of IT executives believe their projects are doomed right from the start. (Source: Geneca ) Tweet this

50. Only 4% of physicians have reported that they have extensive, fully functional Electronic Health Records (EHR) systems. (Source: PMI ) Tweet this

51. IT projects with a budget of about $1 million is 50% more likely to fail as compared to projects with a budget of $350,000 or below. (Source: Gartner ) Tweet this

52. IT projects need to be less complex, not to have more focus on governance. (Source: Gartner ) Tweet this

Lack of project management affects different industries in different ways. Similarly, the opposite is also true. Perfect project management will affect different industries in different ways. The main outcome remains the same – no matter what industry a manager belongs to, perfect project management will always be the key factor of making or breaking a project.

Project Management Methodologies Statistics

53. Nearly 56% of companies have used only one project management methodology. (Source: Capterra ) Tweet this

54. Only 11% of companies use the Agile project management methodology. (Source: PMI ) Tweet this

55. 71% of respondents use the Agile project management methodology more frequently than in previous years. (Source: PMI ) Tweet this

56. PRINCE2 is the least popular project management methodology. (Source: PMI ) Tweet this

57. 76% of organizations believe the agile methodology will be preferred over the waterfall methodology by 2020. (Source: KPMG ) Tweet this

58. Organizations that adopt a particular PM methodology are 28% less likely to foresee budget overruns. (Source: CIO ) Tweet this

59. 97% of companies believe that adopting the right project management methodology is crucial to enhance business performance. (Source: PWC ) Tweet this

60. 60% of project managers report they usually apply a predefined project methodology. (Source: Wellingtone ) Tweet this

There are so many project management methodologies that managers can adopt to streamline workflow in their organization. But, with the above stats, it is safe to say that the most popular and “here-to-stay” project management methodology is Agile. 

Project Management Performance Statistics

61. 12% of organizations invested in projects found their decision to be flawed as these projects failed due to poor performance. (Source: PMI, 2020 ) Tweet this

62. For every $1 billion invested in projects in the US, $122 million was wasted due to poor project performance. (Source: PMI ) Tweet this

63. Moving into green buildings can enhance the decision-making capabilities of employees and managers by 8%. (Source: EHP ) Tweet this

64. 5% of employee performance is directly proportional to technological, political, or economical changes in an organization. (Source: HealthKnowledge ) Tweet this

65. A well-aligned Enterprise Project Management Office (EPMO) can boost performance. (Source: PMI ) Tweet this

66. 31% of organizations never completely realize the anticipated benefits from their projects. (Source: Wellingtone ) Tweet this

67. There are six project performance metrics that every project must achieve to be successful. It includes whether the project was completed in the set deadline, and in the set budget, and in the allocated time. Other factors include scope creep, budget overruns, and other failure reasons. (Source: PMI ) Tweet this

68. 83% of high-performance organizations always invest in project management training to boost performance. (Source: PMI ) Tweet this

69. Project Management Technology Quotient (PMTQ) is going to play a major role in project performance in the coming years. (Source: PMI ) Tweet this

Project performance is dependant on a number of factors, but all these factors depend solely on the project manager. When a project manager understands all the roles, definitions, strategies, and teams involved in a project execution, only then can a project be completed successfully.

Project Management Certification Statistics

70. Project management is an in-demand certification, wherein the salaries vary on the basis of the technology area. (Source: Business News Daily ) Tweet this

71. The most important job profiles that gain an edge over others by pursuing a PM certification include IT Project Managers, IT Senior Project Managers, Program Managers, Software Development Managers, and Engineering Operations Managers. (Source: Knowledgehunt ) Tweet this

72. 90% of institutions and organizations see project management certifications as the key to ensure quality performance. (Source: SimpliLearn ) Tweet this

73. Certified Associate in Project Management (CAPM) is considered to be an essential project management certification for those who wish to attain PMP status by stages, in contrast to gaining it in a single leap. (Source: Business News Daily ) Tweet this

74. The median salary of project managers in Canada with and without a PMP certification are $63,746 and $74,995 respectively. (Source: WPConsulting ) Tweet this

Another aspect that is gaining importance at a fast rate among managers is project management certification. Every manager needs to pursue a specific course to have all the needed knowledge to manage their team and implement the right strategies for efficient project planning and execution.

Project Management Software Statistics

75. 40% of manager choose project management software on the basis of their functionality. (Source: Statistica ) Tweet this

76. 44% of project managers do not use any project management software. (Source: PWC ) Tweet this

77. 90% of companies have reported that using an open source software enhanced their teams’ efficiency and innovation. (Source: Foreign Policy ) Tweet this

78. 67% of companies use project management software to communicate easily with their clients. (Source: Capterra ) Tweet this

79. The biggest roadblocks for implementing Agile are the lack of company vision, projects per team member, and unclear project scope. (Source: Target Process ) Tweet this

80. 42% of companies reported that they received most or all benefits from their software investment. (Source: Wellington ) Tweet this

81. Project management software enhances team communication to the maximum. (Source: Capterra ) Tweet this

82. 56% of organizations reported that the main reason why they don’t prefer using project management software is because it is too expensive. (Source: Capterra ) Tweet this

83. 85% of organizations believe that AI or project management software will significantly change the way they do business in the next five years. (Source: PMI ) Tweet this

84. The median spent on implementing a project management software in an organization is $1,200 on an average. (Source: Capterra ) Tweet this

85. 56% of organizations reported they have only used one project management system. (Source: Capterra )  Tweet this

86. 16% of companies are making use of an appropriate software solution. (Source: Wellington ) Tweet this

87. 24% of companies use Scrum or Agile project management software. (Source: Capterra ) Tweet this

88. Organizations typically spend $10,329 a year ($861 a month) on project management software. (Source: Capterra ) Tweet this

89. Nearly 2/3rd of companies communicate with their clients using project management software. (Source: Capterra ) Tweet this

90. 56% of companies stated the software they are using is too expensive. (Source: Capterra ) Tweet this

91. The one tool that has the greatest impact on team communication is project management software. (Source: Capterra ) Tweet this

92. By 2025, the market of global online project management software is pegged at $6 billion. (Source: Transparency Market Research )  Tweet this

93. The top 4 requested features in any project management software include file sharing, time tracking, email integration, and budget management. (Source: Capterra ) Tweet this

The value of project management has been realized over the last few years and many people have started adopting PM software to streamline their workflow. Another reason why managers have started adopting PM tools is to boost team collaboration and performance. 

Project Management Training Statistics

96. 77% of organizations have defined formal processes to develop PM competency. On the other hand, only 34% of underperformers offer similar training. (Source: PMI ) Tweet this

97. Leadership and technical skills still remain the most important skills for top-performing organizations. (Source: Forbes ) Tweet this

98. 48% of organizations have invested in accredited project management training programs. (Source: Wellington ) Tweet this

99. 59% of organizations have invested in ongoing training for their employees on the use of project management tools and techniques. (Source: PMI ) Tweet this

100. Only 2% of organizations said their primary focus in the organization is on training employees. (Source: PMI ) Tweet this

101. 28% of organizations reported that they don’t invest in project management training. (Source: Wellington ) Tweet this

102. 49% of organizations have a PM training program in place. (Source: Capterra ) Tweet this

103.  57% of PMOs are hugely responsible for PM training. (Source: PM Solutions ) Tweet this

Takeaway : 

Project training is now being recognized as one of the most important metrics that help in optimizing and improving organizational workflow. Managers also adopt robust project management tools to monitor their team performance, analyze their pain points, and improve overall productivity easily.

The Need for Project Management Stats

Project management is one aspect that can make or break an organization.

In an attempt to assist organizations to value project management and understand how important it is in business, we’ve listed 100+ statistics covered by major brands in the market like PMI, Capterra, Wellington, Business News Daily, PM Solutions, and others. The project management facts covered by these companies imply on various industries and majorly discuss how managers have a way to improve their team performance and project execution.

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About the author

David miller.

David is a Project Management expert. He has been published in elearningindustry.com , simpleprogrammer.com . As a project planning and execution expert at ProProfs, he has offered a unique outlook on improving workflows and team efficiency. Connect with David for more engaging conversations on Twitter , LinkedIn , and Facebook .

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15 Fascinating Project Management Statistics

• July 15, 2020

Table of Contents

While the art of project management has existed for a long time , the modern concept of project management did not exist until the early 20th century. Especially as we’ve moved into a largely digital area — where we’re constantly surrounded by new apps and tools — project management has become a largely digital experience. With that, we’ve seen an increase in project management tools , which make implementing best project management practices easy for businesses of all sizes. However, it is not easy to master as seen by these  15 fascinating project management statistics . These surprising findings cover why projects fai l, the current and future state of project management, and how to achieve greater performance through good project management practices .

Did you know?

According to a research by KPMG, an incredible 70% of organizations have suffered at least one project failure in the prior 12 months and 50% of respondents indicated that their project failed to consistently achieve what they set out to achieve. Additionally, only 58% of organizations understand the value of project management . This is a staggering number, as it has proven to be helpful to so many.

For organizations that don’t see the value of project management, this means wasted resources, time, and efforts. To put a value to projects failure, for every $1B invested in the US, $122M was wasted  due to lacking project performance.

As part of Hive’s mission to provide quality customer service , we do regular check-ins with our customers. Often, we find that the lack of clear goals and vision is the main reason as to their project is not successful. And this fact is echoed by PMI Pulse of the Profession 2017 , “A lack of clear goals is the most common factor (37%) behind project failure, according to executive leaders.”

Clearly, if organizations fail to plan, then they plan to fail. Planning is an essential part of project management. From a  Gantt chart to a Kanban board to a  traditional spreadsheet , business leaders should find a style that works for them. With a clear overview of your project and deliverables, business leaders will have a higher rate of success.

The Importance of Good Project Management Practices

Good project management directly translates to less money wasted. Organizations that invest in proven Project Management practices waste 28x less money because more of their strategic initiatives are completed successfully. Even more, Capterra’s  recent market research report found the #1 benefit of using a project management tool is being able to accurately estimate a project timeline. And the better you can estimate a timeline, the less money you will waste.

The project management industry is bright and burning, and it is set to grow by $6.6 trillion by 2020.  Yet, the same research identifies that the  US $208 billion GDP will be at risk because of the project management talent shortage. It is important for organizations to improve their business leaders knowledge of project management.

Interestingly, traditional project management practices are being forgone for newer and more efficient practices, such as the Agile project management approach . It is found that 71% of the organizations are now using agile approaches to their projects more frequently than in the past.

The use of Digital Software in Project Management 

According to PWC, digital project management software increases performance and found that 77% of high performing projects use project management software , yet it was discovered that  44% of project managers do not believe the use of software  to manage projects. The Access Group found that  66% of project managers  highlighted that the key decision factor to invest in a new software is the level of support given by the organization. This is further shown as a report by Geneca highlighted that 75% of business executives anticipate that their PM software will fail.

Why though? 

73% of business leaders today , believe that reliability, ease of use, and an ease of integration are the top three requirements to look for when investing in digital PM software, yet they believe that the solutions out there today do not have these 3 factors.

Ten years ago, legacy project management software could get very complicated and confusing. Today, we are seeing an influx of project management tools that are easy to use, capable, and with integrated features.

Capterra found that two-thirds of companies are communicating with clients using project management software . Some popular features include external or guest users , form capabilities, sharing optimized content , and native chat messenger.

Project management has come a long way, and we hope that these statistics provide you better insight into on the current state of project management.

Project Management Statistics Infographic

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250+ Project Management Statistics (Facts & Trends)

Discover the latest project management statistics that will help you improve your project management skills and achieve better results.

Top Stats At A Glance

According to industry analysis, the projected value of the project management tools market is expected to reach $9.81 billion by 2026. 3

• Without good project delivery methods, a company is likelier to miss deadlines and spend more money. 4
• Almost 39% of companies do not provide their workers with project management training. 10
• Although 89% of businesses have at least one PMO (project management office), only 45% of employees are certified as Project Management Professionals (PMP)®. 11
• The largest obstacles to implementing agile methodologies in an organization are change aversion (48%), a lack of leadership involvement (46%), and uneven team practices (45%). 6

What do project managers and weather forecasters have in common? They both deal with a lot of uncertainty.

Studies show that 51% of project managers say dealing with ambiguity is one of their top challenges.

In this post, you'll uncover the latest project management (PM) statistics to help you navigate the storm and help your projects succeed.

Do you know? 👇🏻

What is the projected value of the project management tools market by 2026?

According to industry analysis, the projected value of the project management tools market is expected to reach $9.81 billion by 2026.

How satisfied are project managers with their organization's technology and project management processes?

Only about 35% of project managers are happy with how their organizations handle technology and project management.

What is considered the most important project management method?

The most important project management method is getting people involved.

Project Management Industry Statistics provide a comprehensive insight into the trends, challenges, and growth factors shaping the project management domain.

These metrics offer stakeholders a glimpse into the industry's performance, helping them make informed decisions and forecast future trends.

Organizations that use PM techniques that have been shown to work waste 28 times less money than those that don't. 6

• Only 46% of organizations have a culture that views project management as a high priority. 5
• Eight out of ten project managers think project portfolio management is key to a business's success. 6
• During COVID-19, only 6% of organizations in Australia got more projects and worked on more programs. 2
• Most organizations use standardized project management techniques. 11
• Companies that do well are likelier to set up project management methods than those that do poorly ( 95% vs. 84% ). 11
• About 56% of project managers aren't happy with the level of PM development right now. 11

of organizations in Australia always or often report changes in project benefits tracking.

of projects have very active sponsors.

of the things organizations do to manage their projects and programs are very successful.

• Among all industries, the technology sector offers the highest average salary for project managers, at $95,904. 14
• In the finance industry, the average salary for project managers is $92,065. 14
• The government industry has the lowest average salary for project managers, standing at $69,237 , when compared to other industries. 14

Effective project management is essential for a company's success and can significantly reduce waste. Organizations that use proven project management techniques waste 28 times less money than those that don't. Despite this, only 46% of organizations view project management as a high priority.

The COVID-19 pandemic has also affected project management, with only 6% of organizations in Australia taking on more projects and programs.

Active sponsorship is vital for project success, with 61% of projects having active sponsors. While standardized project management techniques are prevalent, only 40% of the things organizations do to manage their projects and programs are very successful.

Companies that do well are likelier to set up project management methods than those that do poorly ( 95% vs. 84% ). Despite this, about 56% of project managers aren't happy with the level of PM development right now.

What is the impact of using effective project management techniques on cost savings?

Organizations that use proven project management techniques waste 28 times less money compared to those that don't.

Do organizations often experience changes in project benefits tracking?

Yes, 48% of organizations in Australia always or often report changes in project benefits tracking.

Are project managers generally satisfied with the current level of PM development?

No, approximately 56% of project managers are not happy with the current level of PM development.

Project Management Jobs Statistics provide a comprehensive overview of the current trends, opportunities, and challenges in the project management field.

These statistics offer insights into job demand, salary benchmarks, and skill requirements, enabling professionals and employers to make informed decisions in this dynamic industry

There are approximately 234,883 project management job opportunities annually in the United States. 3

• According to projections, the PM field will require 87 million workers within the next seven years. 3
• No project managers by 2027 = GDP drop of $207 billion. 3
• Based on collected data, the yearly salary for project managers in the United States is $90,139. 3
• The mean income for a project manager in the United States is $91,578 . 14
• In the United States, the typical salary for project managers falls within the range of $64,000 to $129,000 on average. 14

Hourly rates for project managers in the US generally span from $30 to $62 . 14

• The top-earning states for project managers in terms of average salaries are California ( $101,635 ), Massachusetts ( $99,738 ), and New Jersey ( $98,945 ). 14
• The Citadel offers the highest project manager salaries among all companies. 14
• Among various industries in the United States, the technology sector boasts the highest project manager salaries . 14

Average Salary of Project Managers by Level of Education

• Individuals who hold a PMP certification earn a salary that is 23% higher than those who do not possess the certification. 9
• 61% of businesses offer training in project management. 9
• There's a rising need for about 25 million new project managers. 9
• Project managers spend most of their time writing up reports. 9
• Employers often prioritize hiring candidates with strong project management skills. 10
• One in three experienced project managers has considered leaving their job in the past year. 10
• Obtaining a certification is a significant career objective for individuals in project management. 10

Which would you find more valuable to your #career ? A relevant professional #certification or an advanced #degree ? See this and other insights from our 2023 #JobProspect Survey at https://t.co/2FLuoNU8IA #pmot pic.twitter.com/ctQuYbD8mW — PMI (@PMInstitute) May 11, 2023

The project management industry in the United States is booming, with approximately 234,883 job opportunities available annually. However, according to projections, the industry will require 87 million workers within the next seven years. Failure to fill these roles would result in a GDP drop of $207 billion, indicating a growing need for trained project managers.

The yearly salary for project managers in the US is a lucrative $90,139, with individuals who hold a PMP certification earning 23% more than those without.

There's a need for approximately 25 million new project managers, and obtaining a certification is a significant career objective for individuals in project management.

61% of businesses offer training in project management, while 52% require a dedicated project manager. However, almost 39% of companies do not provide their workers with project management training, indicating a gap in industry education.

Employers often prioritize hiring candidates with strong project management skills, as one in three experienced project managers has considered leaving their job in the past year.

How many project management job opportunities are available annually in the United States?

There are approximately 234,883 project management job opportunities annually in the United States.

What is the average yearly salary for project managers in the United States?

The yearly salary for project managers in the United States is approximately $90,139.

What impact do project management tools have on team communication?

The use of project management tools improves team communication by 52%. These tools facilitate real-time collaboration, file sharing, and task tracking, leading to better communication among team members.

What is the time-saving benefit of project management tools for project managers?

Project management tools save project managers significant time in their daily tasks. While the exact time saved may vary, these tools streamline processes, automate repetitive tasks, and provide better visibility into project progress.

Which project management software is widely used among businesses?

Jira is a widely used project management software, with a usage rate of 41.96% among businesses. It offers a range of features for project planning and tracking.

Project Planning Statistics provides a quantitative analysis of the various elements involved in project planning. It offers insights into timelines, resource allocation, risks, and success rates, enabling stakeholders to make informed decisions and optimize project outcomes.

• Over half of the project KPIs aren't available in real-time. 3
• Most project managers (60%) consistently use a defined approach. 3
• Most project teams have 1-5 people or more than 10 people. 9
• 50% of organizations base their project plans on a baseline or all the time. 3
• 67% of companies utilize project change management. 2
• More PMOs will have increased responsibilities this year compared to last year. 9
• Agile methods are used by 53% of organizations that are considered to be leaders in project management technology. 5

Top Agile Techniques Used in Organizations

• AI is used to help project managers run 23% of the company's projects . 5
• Most businesses use daily standup (85%) , retrospectives (81%) , sprint planning (79%), sprint review (77%), and short iterations (64%) as their top agile methods. 9
• Change management efforts are not made in 23% of projects, which is surprising. But 32% of the people who work on projects that get funded say they are very successful. 2
• Over half of the businesses include change management in their projects. 2
• 57% of businesses in Australia use a central PMO to make project activities run more smoothly. 2
• 28% of companies think using agile methods has made their projects more likely to succeed. 2
• 51% of organizations say that project workers must be certified to do their jobs. 5
• Many project managers believe paperwork wastes time because people don't read it. 9

Which Agile methodology do you follow most closely at the team level?

• 11% of people in charge of projects wish they didn't have to hold regular meetings. 9
• 37% of senior leaders say that not having clear goals is why projects fail.
• About 54% of all project-based companies don't track their KPIs well in real time. 9
• Most organizations waste about 12% of their resources because they don't handle projects well. 9
• 42% of project managers don't follow any organized method. 9
• Only 52% of projects have a scoping paper most of the time. 9

Contending with conflict on your team? Check out 4 #PMP #ProTips for resolving disagreements—and ensuring discord doesn’t disrupt project progress: https://t.co/TxDu4V8uys #WorkplaceConflict #ConflictManagement #LeadershipTips #pmot pic.twitter.com/VPpOS74TM7 — PMI (@PMInstitute) May 6, 2023

Project management is a crucial aspect of any business, and the statistics speak for themselves. Over half of the project KPIs aren't real-time, indicating businesses need to improve their project tracking. However, the good news is that most project managers (60%) consistently use a defined approach. Businesses have various team sizes, with most project teams having 1-5 people or more than 10 people.

It's worth noting that 50% of organizations base their project plans on a baseline or all of the time, highlighting the importance of having a plan.

Agile methods are gaining traction, with 53% of organizations considered leaders in project management technology using them. AI is also used to help project managers run 23% of their company's projects, making project management more efficient and effective.

According to PMI, companies with strong project management skills achieved their goals 77% of the time, highlighting the importance of having certified project managers on staff. However, the estimation shows that 42% of project managers don't follow any organized method, indicating room for improvement.

What percentage of project managers use a defined approach consistently?

Approximately 60% of project managers consistently use a defined approach in their project management practices.

What percentage of organizations use Agile methods in project management?

Agile methods are used by 53% of organizations considered leaders in project management technology.

Do businesses typically include change management in their projects?

Yes, over half of businesses incorporate change management into their projects.

Project Budget Statistics provides a concise overview of the financial allocations and expenditures of a project.

By analyzing these statistics, stakeholders can gain insights into the project's financial health, ensuring optimal resource utilization and informed decision-making.

91% of US CEOs believe talent directly impacts business financial performance. 5

• 43% of businesses complete projects primarily or exclusively within budget, while 27% of projects exceed their budgets. 3
• Failed IT investments caused the United States to lose between $50 and $150 billion in income and productivity. 6
• Compared to initiatives with expenditures under $350,000, IT projects over $1 million had a 50% greater failure rate. 6
• Unrealistic budgets hinder projects, according to 24% of project experts. 6
• 20% of project experts think agile methodologies can reduce project expenses. 6
• Organizations with high-value delivery maturity complete 67% of their projects within the budget, while low-maturity value delivery businesses complete only 46% of their projects within budget. 5
• Ineffective project execution results in a waste of 11.4% of investments on average, and 67% more projects fail in organizations that place little priority on project management. 5

Involved sponsors exist in 61% of the projects. 9

• Businesses that invest in tried-and-true project management techniques lose 28 times less money. 9

These statistics shed light on the critical role project management plays in the success of businesses. For instance, a staggering 91% of US CEOs recognize the direct impact of talent on business financial performance. This underscores the importance of having a skilled project team to manage initiatives effectively.

However, managing projects within budget remains a significant challenge for many businesses, with only 43% of projects completed within budget.

Unrealistic budgets also hinder projects, as 24% of project experts stated.

IT projects face even greater challenges, with projects over $1 million having a 50% greater failure rate than those under $350,000. Failed IT investments cost the United States between $50 and $150 billion in income and productivity, highlighting the need for effective project management.

Agile methodologies are seen by 20% of project experts as a means to reduce project expenses. Interestingly, businesses that invest in tried-and-true project management techniques lose 28 times less money than those that don't, underscoring the value of established project management practices.

Effective project execution is critical, as 67% more projects fail in organizations that place little priority on project management.

Fortunately, having involved sponsors can increase the likelihood of project success, with 61% of projects having sponsors involved.

Organizations with high-value delivery maturity complete a significantly higher percentage of their projects within budget, emphasizing the importance of investing in project management. Businesses that expect project managers to deliver greater value on a tighter budget and schedule must also recognize the limitations of unrealistic expectations.

Why is talent important for business financial performance?

According to a survey, 91% of US CEOs believe that talent directly affects business financial performance. This underscores the critical role of skilled professionals in driving a company's success.

What role do unrealistic budgets play in project success?

About 24% of project experts believe that unrealistic budgets can hinder project success. It's essential to set practical financial expectations to increase the likelihood of project success.

What challenges do project managers face regarding budgets and schedules?

Nearly half (47%) of project managers are expected to deliver greater value within tighter budget and schedule constraints. This reflects the growing pressure on project managers to optimize resources.

How does delivery maturity impact project budget success?

Organizations with high-value delivery maturity complete 67% of their projects within budget, whereas those with low maturity value delivery complete only 46% of their projects within budget. This underscores the importance of mature project management practices.

Project Performance Statistics provides a concise overview of a project's key metrics, enabling stakeholders to quickly assess its health, progress, and efficiency.

By analyzing these statistics, teams can identify areas of improvement and make informed decisions to ensure project success.

Only 40% of projects achieve their full benefits. 6

• 35% of firms are either somewhat or very happy with their degree of project management maturity. 3
• Approximately 60% of people always or primarily handle risks. 3
• Less than a third of projects meet deadlines. 3
• Leadership development is prioritized by 68% of firms to boost performance, whereas technical skill development is prioritized by 65% of enterprises. 5
• Every year, 36% of people spend at least one-day making project reports. 3
• A PMO exists in 89% of organizations, and 26% are just two years old. 3
• 54% of firms lack access to real-time KPIs. 3

How Many Projects Do Project Managers Work On at a Time

• The most common scaling technique is the Scaled Agile Framework, used by 35% of firms. 6
• 40% of project managers consider the projects they worked on a success. 6
• Project managers typically handle a few projects simultaneously, but some may handle more. 6
• Agile project approaches offer benefits like managing priorities, project visibility, and business/IT alignment. 6
• The most important indicators for a successful agile project are delivering business value, making customers happy, and maintaining velocity. 9
• The success rate of agile transitions is 41% . 6

• According to 47% of project managers, their companies have a history of successful projects. 3
• Project success rates have increased in the past two years, as reported by 58% of businesses. 2
• 51% of businesses complete initiatives satisfying the primary purpose or objective. 2
• High-delivery maturity companies finish 63% of projects on time. 5

Nearly 40% of project teams include six to ten members, 30% have five or fewer, and 30% have more than ten members. 9

• Most UK project managers use project risk management. 9
• Mature teams complete 63% of projects on time. 9
• Only 2.5% of businesses complete all their tasks. 11
• Finishing your projects will place you in the top 3% of the world's best-performing organizations (based on over 10,000 projects from 150+ firms). 9
• Changes in organizational priorities (39%), changes in project objectives (37%), and a lack of vision (29%) were the main causes of 97.5% of unsuccessful initiatives. 9
• Lack of communication is a factor in 50% of project failures. 9

"The world is changing fast, but when it comes to managing successful projects, many things stay tried and true. Here are 8 key factors that lead to successful projects https://t.co/qf0Tqo1QC1 — Project Management (@PMArticles) April 2, 2023

These stats reveal some interesting insights into the world of project management. The first is particularly noteworthy: 77% of successful projects utilize project management software. This suggests that project management software can significantly increase the likelihood of a project's success.

It's also important to note that only 40% of projects achieve full benefits, indicating room for improvement in project management practices.

35% of firms are somewhat or very happy with their degree of project management maturity, highlighting the need for ongoing improvement in this area. Additionally, less than a third of projects meet deadlines, indicating that there is still much work to improve project scheduling and execution.

Interestingly, the development of leadership is prioritized by 68% of firms to boost performance, whereas technical skill development is prioritized by 65% of enterprises. This suggests that businesses recognize the importance of strong leadership in project management.

Agile project approaches offer benefits like managing priorities, project visibility, and business/IT alignment; the success rate of agile transitions is 41%.

This suggests that agile approaches may be worth considering for businesses looking to improve their project management practices.

What is the level of satisfaction with project management maturity in firms?

Approximately 35% of firms are either somewhat or very happy with their degree of project management maturity, as reported in the data.

What do firms prioritize for performance improvement?

Leadership development is prioritized by 68% of firms to boost performance, while technical skill development is a priority for 65% of enterprises.

Which is the most common scaling technique for firms?

The Scaled Agile Framework (SAFe) is the most common scaling technique, used by 35% of firms.

Project Management Success Statistics provide a quantitative insight into the effectiveness and efficiency of project management practices.

These metrics highlight the percentage of projects that meet their objectives, stay within budget, and are completed on time. By understanding these statistics, organizations can gauge their project management performance and identify areas for improvement.

Using BPM software can make your projects 70% more likely to succeed. 7

• 89% of companies that do well tend to finish tasks successfully. 7
• Low-performing companies only finish 36% of their projects smoothly, while high-performing companies finish 80% or more. 7
• As reported by 60% of companies in project management success statistics, clear methods and practices are key to project success. 7
• Most companies believe project management is crucial for growth and development, with 97% . 7

Effective project management is crucial for any business to succeed, and the numbers speak for themselves. BPM software can increase the chances of project success by a staggering 70%, highlighting the importance of utilizing the right tools for the job.

The difference between high-performing and low-performing companies is also stark, with the former finishing 80% or more of their projects successfully, while the latter only achieve a success rate of 36%.

Clear methods and practices are also essential for project success, with 60% of companies agreeing that this is a key factor. This reinforces the importance of having a well-defined project management approach that ensures everyone involved is on the same page and working towards the same goals.

Notably, most companies (97%) view project management as a critical component of growth and development. This indicates that businesses recognize the value that effective project management can bring, from increasing efficiency to delivering successful outcomes that drive business growth.

What percentage of companies that perform well successfully finish their tasks?

Approximately 89% of high-performing companies tend to successfully complete their projects. This suggests a strong correlation between overall company performance and project success.

How do clear methods and practices contribute to project success?

According to project management success statistics, 60% of companies believe that clear methods and practices are essential for project success. These methods and practices provide structure, reduce ambiguity, and enhance project management efficiency, ultimately leading to better outcomes.

How can BPM software improve project success rates?

Using BPM (Business Process Management) software can increase project success rates by up to 70%. This software helps streamline processes, enhance communication, and provide better visibility into project progress, leading to more successful project outcomes.

Project Failure Statistics provide a comprehensive insight into the reasons, frequency, and patterns of project failures. By analyzing these statistics, organizations can identify common pitfalls and implement strategies to enhance project success rates.

Agile projects have a 22% failure rate, and slow management decisions increase the risk of bad outcomes by 53%.

• COVID-19 caused project delays and cancellations for 58% of organizations. 2
• According to Wellingtone, 25% of organizations occasionally or never produce scoping documents for initiatives. 3
• Project failure rates for businesses with low-value delivery maturity are 21%, which is significantly higher than those for firms with high-value delivery maturity, which are 11% . 5
• Project failure rates for companies without or without obsolete project management technologies are 18% . 5

Biggest Challenges to Adopting Agile Techniques

• According to Wellingtone, 60% of project professionals now consider poor resource management a serious issue in project management. 3
• 25% of firms do not use technology appropriate for team collaborations on informal projects, even if this uses up 20% of their productive workdays. 3
• The largest obstacles to implementing agile methodologies in an organization are change aversion (48%) , a lack of leadership involvement (46%), and uneven team practices (45%) . 6
• Many project managers have thought about quitting their job. 7
• Over half of the poorly managed business projects exceed their budget. 5
• 47% of agile projects are late, go over budget, or have dissatisfied clients, and 11% of agile initiatives completely fail and produce nothing. 4
• Lack of planning results in 39% of projects failing. 4
• Almost 20% of IT projects may fail so miserably that they endanger the organization's existence. 4
• The failure rate for IT initiatives is 66% due to poor project management, inadequate planning, poor communication, and poorly defined goals. 4
• According to data on IT project failure, between 5% and 15% of projects are unsuccessful. 4
• IT projects often exceed their budget by 27%. 4
• Team communications are 52% better, thanks to project management software. 4
• Poor project performance wastes almost 10% of every dollar. 4
• Outdated software causes 18% of project failures. 4

When it comes to project management, most organizations put their practices before their people. They place more emphasis on rational factors -- the process itself -- and less on emotional drivers that could lead to project excellence -- like their employees' engagement with the project and company. But forcing team members to adapt to project management processes and procedures makes it more likely that the project will fail. The resulting cost from bad project management is reaching astronomical levels. It represents a significant waste of money, and it poses a threat to organizations that rely on the success of large-scale projects.

Benoit Hardy-Vallee

PMP & Former Consultant @ Gallup

Source: The Cost of Bad Project Management

Managing a project can be daunting, with many factors to consider. Unfortunately, according to recent statistics, project failure is still common, particularly for those who lack the appropriate resources, technology, and methodologies.

For instance, businesses with low-value delivery maturity have a 21% project failure rate, which is significantly higher than those with high-value delivery maturity, which has an 11% failure rate. Outdated software also contributes to project failure, with 18% of projects failing due to old tech.

On top of this, COVID-19 has caused project delays and cancellations for 58% of organizations, making it even harder to stay on track.

When it comes to Agile projects, they have a 22% failure rate, and slow management decisions can increase the risk of bad outcomes by 53%. The largest obstacles to implementing agile methodologies in an organization are change aversion, lack of leadership involvement, and uneven team practices, all of which can lead to a 47% late, over-budget, or dissatisfied client rate for agile projects.

Team collaboration is also a key factor in project success, with team communications improving by 52% thanks to project management software. Businesses need to know why the Agile SDLC model can help startups and ensure long-term success.

However, 25% of firms do not use appropriate technology for informal project collaborations, despite it taking up 20% of their productive workdays.

Furthermore, poor resource management is now a serious issue in project management for 60% of project professionals, and almost 20% of IT projects may fail so miserably that they endanger the organization's existence. Lack of planning also results in 39% of project failures, and IT projects often exceed their budget by 27%.

Project management is crucial for success, with most companies stating its significance in a PwC study. However, poor project performance still wastes almost 10% of every dollar, and many project managers have even thought about quitting their job due to project failure.

To minimize the risk of project failure, it's important to invest in appropriate resources and technology, implement effective methodologies, and prioritize team collaboration and communication.

What is the failure rate of Agile projects, and what factors contribute to their failure?

Agile projects have a 22% failure rate. Slow management decisions increase the risk of bad outcomes by 53%.

How does project management technology impact project success?

Project failure rates for companies without or with obsolete project management technologies are 18%. Outdated software causes 18% of project failures.

What is a common cause of project failure?

Lack of planning results in 39% of projects failing.

Project Management Adoption Rate Statistics provide insights into the prevalence and uptake of project management methodologies and tools across industries.

These metrics shed light on how organizations are prioritizing and integrating project management best practices to achieve operational excellence.

Currently, PM software is only used by 22% of companies. 10

• Software for managing projects is used by 77% of all high-performing projects. 10
• 9.9% of funding is lost as a result of inadequate project execution. 10
• Most companies don't use project management software. 10
• From 2020 to 2025, the market for project management software is anticipated to grow at a CAGR of 10.67%. 10

Jira, Microsoft Project, and Smartsheet are three frequently utilized project management software solutions, with market shares of 36.57%, 19.78% , and 5.17%, respectively. 10

• 44% of managers oppose using software to handle projects. 10
• Based on data, 35% of project managers use Microsoft Excel for resource planning. 6
• Bad project performance leads to an 11.4% investment loss on average. 6
• Most firms want digital PM software that's reliable, easy to use, and integrated, but current solutions don't meet these criteria. 6
• The organization backed the purchase of project management software, according to 66% of project professionals. 6

These statistics highlight that project management software is becoming increasingly important in business. Despite its proven benefits, only 22% of companies currently use PM software. However, 77% of high-performing projects rely on software for project management, indicating the importance of adopting this technology.

The market for project management software is projected to grow at a CAGR of 10.67% between 2020 and 2025, indicating that more companies are recognizing the value of using such software.

Three commonly used project management solutions include Jira, Microsoft Project, and Smartsheet, with market shares of 36.57%, 19.78%, and 5.17%, respectively.

While many project managers have traditionally used Microsoft Excel for resource planning, the trend is shifting, with only 35% currently using Excel.

Despite the clear advantages of using project management software, 44% of managers are opposed to the idea, indicating a need for education on the benefits of this technology.

One challenge that needs to be addressed is that current solutions don't always meet the needs of firms looking for reliable, easy-to-use, and integrated software.

The data also highlights that inadequate project execution leads to significant investment loss. On average, bad project performance results in an 11.4% loss, and firms that downplay the importance of project management as a catalyst for change have a project failure rate of around 67%.

Do high-performing projects tend to use project management software?

Yes, 77% of all high-performing projects use software for project management.

What is the projected growth rate for the project management software market from 2020 to 2025?

The market for project management software is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 10.67% from 2020 to 2025.

What are the key criteria that most firms want in digital project management software?

Most firms seek digital PM software that is reliable, easy to use, and integrated. However, it's noted that current solutions may not fully meet these criteria.

Project management software is rising by 10.6% . 7

• Large businesses represent the largest market for project management software. 9

• Jira has the biggest share of the project management system market. 8
• The US accounts for 29.2% of the project management software market. 9
• According to Wellingtone, most project managers are unhappy with their technology, with only 35% reporting satisfaction. 3
• Poor project management wastes 11.4% of resources, according to PMI. 5
• It has been found that 89% of businesses have at least one PMO. 10

The project management industry is growing, and this means YOU have to evolve too. It is estimated that the PM industry will grow by 2 Billion dollars in the next 5 years. The question now is what are you doing to ensure you get a slice of that market share? #projectmanagement pic.twitter.com/ycflJ87b0f — PMI South Africa (@PMISouthAfrica) June 27, 2022

As reported by Mordor Intelligence, project management software is a booming industry, projected to grow at a CAGR of 10.6% between 2020 and 2025. This growth is largely driven by large businesses, which represent the largest market for project management software, according to ReportLinker.

Among the various project management solutions, Jira stands out with the biggest market share, as reported by Datanyze.

Regarding geography, the United States is the leading market, accounting for 29.2% of the project management software market.

However, despite the increasing popularity of project management software, many project managers remain dissatisfied with their current technology, with only 35% reporting satisfaction, according to Wellingtone.

Poor project management can waste up to 11.4% of resources, as reported by PMI. It's no wonder that most companies have at least one Project Management Office (PMO), as reported by the statistics. Businesses can stay updated with the latest technology trends to help with project management.

What is the growth rate of the project management software market?

The project management software market is experiencing a significant growth rate of 10.6%.

Which project management software dominates the market?

Jira is the leading project management software, holding the largest market share.

How much wastage is associated with poor project management?

Poor project management is estimated to waste 11.4% of resources, according to PMI.

The Project Management Office (PMO) Statistics provides a comprehensive overview of key metrics and data related to the performance, efficiency, and effectiveness of project management within an organization.

This data-driven insight aids in optimizing processes, aligning projects with business goals, and ensuring the successful delivery of initiatives.

According to Mordor Intelligence, project management software is rising by 10.6%. 7

• According to ReportLinker, large businesses are the largest market for project management software. 9
• Datanyze reports that Jira is the most popular project management system. 8
• ReportLinker states that the US holds a market share of 29.2% . 9
• According to Wellington, most project managers are unhappy with their technology, and only 35% are satisfied. 3

• Inadequate project management results in losing 11.4% of resources. 11
• According to 51% of PMOs, proving the value-add that a PMO offers is their largest issue. 11
• A survey shows that 44% of PMOs have clear responsibilities and roles. 11

According to Mordor Intelligence, project management software is rising, with a 10.6% increase. Large businesses are the biggest market for project management software, as reported by ReportLinker.

Jira is the most popular project management system, according to Datanyze, while the US accounts for 29.2% of the market share.

Despite the growing prevalence of project management software, Wellingtone reports that most project managers are dissatisfied with their current technology, with only 35% feeling satisfied. Additionally, inadequate project management can result in a significant loss of resources, with the Project Management Institute estimating an 11.4% waste.

While 89% of businesses have at least one project management office (PMO), only 45% of employees are certified as Project Management Professionals (PMP)®.

Proving the value-add of a PMO is a significant issue for 51% of PMOs, according to a survey, and only 44% feel they have clear responsibilities and roles.

How many PMOs have clearly defined responsibilities and roles, according to a survey?

According to a survey, 44% of PMOs have clear responsibilities and roles defined within their organizations.

How prevalent are Project Management Offices (PMOs) in businesses, and what percentage of employees are certified as Project Management Professionals (PMP)®?

According to industry data, approximately 89% of businesses have at least one PMO, but only 45% of employees are certified as Project Management Professionals (PMP)®.

What is the main challenge faced by PMOs, as per 51% of them?

A majority of PMOs (51%) report that their biggest challenge is proving the value-add that a PMO offers to the organization.

Artificial Intelligence (AI) has revolutionized various sectors, from healthcare to finance. The statistics surrounding its impact underscore its transformative power, highlighting advancements in efficiency, accuracy, and innovation.

Dive into the numbers to grasp the magnitude of AI's influence.

Knowledge-based systems now impact 37% of enterprises, analyzing data and helping people learn and make decisions. 12

• Most organizations believe knowledge-based systems will have a big impact in the future. 12
• Machine learning already affects 31% of firms, and 69% anticipate it will have a significant future influence. This AI technology examines data and seeks patterns to improve judgments. 12

of projects will be managed by AI.

of project managers saved time using AI software to analyze data.

• According to the Pulse study, AI technologies like robotic process automation, reinforcement learning, and machine learning are improving project efficiency. 12
• Anti-bias solutions (68%) , expert systems (61%), and knowledge-based systems (59%) are three AI technologies that improve project quality. 12

Picture this: AI-powered technology that corrects the light-skin bias in cameras. Learn how a @Google team reengineered its software so “people of color are showing up as they are and as they ought to be seen.” Learn more: https://t.co/KaKKmzggmv #MIP2022 pic.twitter.com/ybHvj52u2F — PMI (@PMInstitute) May 15, 2023

The impact of AI on project management is becoming increasingly apparent. 37% of projects are projected to be managed by AI. This technology has proven valuable, with 47% of project managers reporting saved time using AI software to analyze data. Businesses also use AI software for social media marketing and to collect data.

Knowledge-based systems now impact 37% of enterprises, analyzing data and helping people learn and make decisions.

Moreover, most organizations believe knowledge-based systems will have a big impact in the future. Machine learning, another form of AI, already affects 31% of firms, with 69% anticipating it will have a significant future influence.

The Pulse study found that AI technologies such as robotic process automation, reinforcement learning, and machine learning are improving project efficiency.

Finally, the survey highlighted three AI technologies that improve project quality: anti-bias solutions (68%), expert systems (61%), and knowledge-based systems (59%).

What is the current role of AI in project management?

AI is becoming increasingly integrated into project management. According to industry data, 37% of projects are now managed by AI, which involves using artificial intelligence algorithms and tools to streamline various aspects of project management.

Which AI technologies enhance project quality?

Several AI technologies contribute to enhanced project quality. Anti-bias solutions (68%), expert systems (61%), and knowledge-based systems (59%) are among the technologies that are helping organizations improve the quality of their projects.

Can you provide examples of AI technologies that improve project efficiency?

AI technologies such as robotic process automation, reinforcement learning, and machine learning have been identified as contributors to improved project efficiency according to the Pulse study.

Project Management Skills Statistics provide a quantitative insight into the essential competencies and expertise that project managers possess.

These statistics shed light on the most sought-after skills, proficiency levels, and areas of improvement, offering a comprehensive overview for organizations and individuals aiming for project success.

45% of businesses offer their staff members certified project management training. 3

• Project management stands out as the predominant hard skill among project managers, with 22.5% of them listing it on their resumes. 14
• Following closely, project scope is the second most prevalent hard skill among project managers, appearing on 6.4% of resumes. Thirdly, customer service skills are also common, featuring on 5.6% of project manager resumes. 14
• Among the soft skills crucial for project managers, three notable ones are analytical abilities, business acumen, and customer service skills . 14

The Most Common Skills For Project Managers In 2023

• 61% of businesses offer project management training. 13
• Technical abilities are given top priority by 68% of firms to facilitate successful project completion. 13
• Leadership abilities are given top priority by 65% of firms to complete successful initiatives. 13
• Business skills are given high priority by 58% of firms to complete successful initiatives. 13
• Digital skills are given top importance by 50% of organizations to enable the completion of successful initiatives. 13
• Effective communication with all stakeholders is the most important success component in project management, according to 55% of project managers. 5

of organizations require project managers to have some qualification.

of project professionals report that their organizations promote a learning and growth mentality.

of businesses place a strong emphasis on developing strategic thinking.

• High-performing businesses are more than five times more likely to be highly effective communicators than 52% of minimal communicators. 5
• Subject matter specialists make up one in three project team members. 5
• According to 71% of respondents to the Wellingtone State of Project Management research, more project management expertise will be required. 3
• 35% of survey respondents are worried about unskilled workers decreasing the worth of project management.
• Complex issue solving, communication skills, and planning and direction setting were the three most important abilities according to 29%, 31%, and 32% of respondents. 2

The importance of project management training and skills cannot be overstated; the numbers speak for themselves. According to the Wellingtone report, 45% of businesses offer certified project management training, while 61% offer some form of project management training. Technical abilities are prioritized by 68% of firms, followed by leadership abilities (65%), business skills (58%), and digital skills (50%).

Additionally, 51% of organizations require project managers to have some qualification.

According to research, high-performing businesses are more likely to be effective communicators, with a percentage of 52% compared to minimal communicators.

As businesses embrace technology, artificial intelligence (AI) and machine learning (ML) are becoming more important in project management. 37% of projects were managed by AI, with 47% of project managers saving time using AI software to analyze data.

In addition, knowledge-based systems impact 37% of enterprises, analyzing data and helping people learn and make decisions, while machine learning already affects 31% of firms.

However, the increasing emphasis on technology and automation should not overshadow the importance of soft skills. The KPMG survey found that complex issue-solving, communication skills, and planning and direction-setting are the three most important abilities, as per 29%, 31%, and 32% of respondents. Businesses must build communication strategies to ensure consumers and employees are on the same page.

What percentage of businesses offer certified project management training to their staff members?

45% of businesses offer their staff members certified project management training.

What are the top priorities for businesses to facilitate successful project completion?

• Technical abilities are given top priority by 68% of firms.
• Leadership abilities are given top priority by 65% of firms.
• Business skills are given high priority by 58% of firms.
• Digital skills are given top importance by 50% of organizations.

What is the most important success component in project management according to project managers?

According to 55% of project managers, effective communication with all stakeholders is the most important success component in project management.

In the dynamic world of project management, training plays a pivotal role in equipping professionals with the necessary skills and knowledge to efficiently oversee projects.

Project Management Training Statistics provide insightful data regarding the impact of training on project success rates, efficiency improvements, and the overall competency of project managers.

• Almost half of the businesses have project management training programs. 11
• Experience is the top hiring criterion for project managers in small, medium, and large businesses, with 70% of project managers in SMBs lacking certification. 3
• Unskilled project managers are a major issue in business project management. 11

These statistics shed light on the importance of project management training in businesses. Nearly half of all businesses offer project management training to their staff, which is a positive trend. However, experience remains the top criterion for hiring project managers across small, medium, and large businesses.

This is concerning as 70% of project managers in SMBs lack certification, which may lead to unskilled project management, ultimately affecting project outcomes.

Why do almost half of businesses have project management training programs?

Many businesses recognize the importance of effective project management in achieving their goals and delivering successful projects. Having project management training programs helps improve the skills and capabilities of their project managers, ultimately leading to better project outcomes and increased efficiency.

How many project managers in small and medium-sized businesses (SMBs) lack certification?

Approximately 70% of project managers in SMBs lack certification. This suggests that while certification can be beneficial, many SMBs prioritize experience over formal certification when hiring project managers.

Project Management is continuously evolving, driven by technological advancements and changing business landscapes. As we look ahead, several trends are poised to reshape the way we plan, execute, and monitor projects.

Dive into the future of project management and discover the trends that will define its next chapter.

Repetitive jobs are driving up demand for project management, according to Monday.com. 3

• According to Wellington, 54% of businesses lack access to real-time project KPIs. 3
• 77% of high-performing teams use project management software, as per PWC. 10
• Project management is significantly impacted by events like COVID-19, as per KPMG. 2
• Hybrid project management techniques are most prevalent. 4
• Just 43% of projects are finished on schedule, according to Wellington. 3
• 48% of respondents think their company efficiently manages projects. 4
• Only 22% of businesses use project management software. 4
• Between 2020 and 2025, the market for PM software is anticipated to grow at a CAGR of 10.17%. 4
• The most popular project management tool is Microsoft Project. 4
• 93% of businesses utilize standardized project management procedures. 4
• Official project management yields superior outcomes. 9

• Predictive techniques are used by 44% of high-performing firms. 9
• Multitasking results in a 40% decrease in productivity. 9
• Project management training is continuing in 83% of high-performing firms. 9
• Employers will require 87.7 million professionals to fill PM-related tasks by 2027. 9
• The market for project management software is projected to grow to 9.81 billion USD by 2026. 9
• By 2030, the world will need 25 million skilled project management gurus. 9
• Project success rates have increased in the last two years, according to 58% of organizations. 9

Why aren’t more Americans part of a professional association? Major barriers include lack of awareness and lack of time. Learn more: https://t.co/E7N74t5A0j pic.twitter.com/29nMLB7nbP — PMI (@PMInstitute) May 13, 2023

Project management is becoming increasingly essential, and the latest stats back this up. According to Monday.com, repetitive jobs are driving up the demand for project management.

However, Wellington reports that only 48% of respondents think their companies efficiently manage projects, with just 43% finished on schedule.

Additionally, 54% of businesses lack access to real-time project KPIs. To address these issues, 77% of high-performing teams use project management software, according to PWC, and Rebel's Guide to PM states that hybrid project management techniques are the most prevalent.

COVID-19 has significantly impacted project management, as per KPMG, with project managers facing new challenges and needing to adapt to changing circumstances. However, official project management procedures have been shown to yield superior outcomes, and 93% of businesses utilize standardized project management procedures.

The need for skilled project management professionals is growing rapidly, with employers requiring 87.7 million professionals to fill PM-related tasks by 2027.

Yet, only 22% of businesses currently use project management software, despite the market for PM software being projected to grow to 9.81 billion USD by 2026.

Project management training is continuing in 83% of high-performing firms, with predictive techniques used by 44% of them. Multitasking has been shown to result in a 40% decrease in productivity, emphasizing the importance of focusing on one task at a time.

What percentage of businesses lack access to real-time project KPIs?

According to Wellington, 54% of businesses currently lack access to real-time project Key Performance Indicators (KPIs).

What is the expected growth rate for the project management software market between 2020 and 2025?

The market for project management software is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 10.17% between 2020 and 2025.

How many professionals will be required for PM-related tasks by 2027?

Employers are projected to require 87.7 million professionals to fill Project Management (PM)-related tasks by 2027.

Based on the project management statistics, it's evident that the need for effective project management is on the rise. Businesses are grappling with managing repetitive tasks, and the lack of real-time project KPIs further complicates matters.

The good news is that high-performing teams increasingly use project management software, yielding superior outcomes.

However, only a fraction of businesses use project management software, and a significant gap in project management skills needs to be addressed.

As the demand for project management professionals grows, businesses must invest in project management software, adopt standardized project management procedures, and provide ongoing project management training for their teams. Businesses can improve project success rates, boost productivity, and gain a competitive edge. Therefore, organizations must take a proactive approach to project management and embrace the latest tools and techniques to stay ahead of the curve.

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Tracking Budget Variance in Project Management

Projects are planned, but those plans are rarely executed with changes. Those disruptions can play havoc on a project’s budget. Therefore, project managers are always tracking budget variance to deliver projects without breaking the bank.

We’ll define project variance below as well as what a budget variance analysis is. There’s a section explaining the importance of tracking budget variance in project management and different project aspects to consider when tracking budget variance.

What Is Budget Variance?

Before defining budget variance, let’s look at the meaning of variance. Variance is a measure of how data points differ from the mean. The definition comes from probability theory and statistics. In project management, budget variance quantifies the difference between the budget and the actual cost of executing the project.

Budget variance is one of the tracking tools project managers use to ensure that the project isn’t costing too much. Projects that go over budget have to request further funding, which isn’t always available, or, in the case of a construction project, when costs outrun the budget, it eats into the general contractor’s profit margin. Neither is preferable to keeping to or staying under the project budget.

There are two ways to express budget variance:

• Positive Budget Variance: When the actual cost of the project is lower than the budgeted amount, which is a positive sign of financial performance.
• Negative Budget Variance: When the actual costs are higher than the budgeted amount, which means the project finances are underperforming and require further investigation to learn why.

Using project management software can track budget variance. ProjectManager is award-winning project and portfolio management software with robust Gantt charts that can set a baseline to track budget variance in real time. Once a budget has been set for the project and human and nonhuman resource costs are defined for the tasks, just set a baseline to capture that budget and track planned costs against actual costs in real time. Get started with ProjectManager today for free.

What Is Budget Variance Analysis?

Project managers use budget variance analysis when managing projects. It’s a key technique that helps monitor and control project costs .

Budget variance analysis simply compares the actual costs of a project against what the project has been budgeted for. Using a budget variance analysis can help determine if the project is meeting its budget goals.

This helps make more informed decisions about further costs in the project. It also helps identify when the project costs are going over budget, which allows project managers to respond quickly by reallocating resources to get back on track.

Why Is It Important to Track Budget Variance in Project Management?

Project budgets aren’t arbitrary. They are what has been agreed upon as funding to deliver the product or service. First, the budget should have been accurately forecasted, which can be done with historical data, seeking experienced advice and more. Once that budget is finalized, the project costs must be monitored as it moves into the execution phase to ensure the project doesn’t go over budget.

Tracking budget variance not only helps project managers by letting them know if the project costs align with its budget but also allows them to see if there are any deviations. But by catching these areas of the project where actual costs are exceeding the budget, project managers can focus on them, uncover why costs are spiking and, when they do, work towards getting the project back on track .

There are other reasons for tracking budget variance; budget forecasts can change. Tracking budget variance can help identify those changes, whether they’re team-based assumptions on things that weren’t true, their estimates were poor, more work was added to or removed from the project, resources changed, etc.

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Project Budget Template

Use this free Project Budget Template for Excel to manage your projects better.

What Should Be Considered When Measuring Budget Variance?

There are many things to consider when measuring budget variance in a project. Anything that will cost the project or influence those costs will be under the purview of measuring project variance. Here are a few of those variables.

• Project Tasks: Activities that make up the project and produce the final deliverable , used when determining budget variance
• Resources: People, raw materials, equipment, etc., needed to execute project tasks
• Budgeted Costs: The estimated cost for delivering the project
• Actual Costs: The amount of money paid to deliver the project
• Cost Variance: The difference between expected and actual cost for the project
• Project Timeline and Task Due Dates: The schedule for the project is plotted on a timeline with deadlines for each task, which is used in calculating the budget variance

Budget Variance Formula

Now that we understand the various things to consider when measuring budget variance, let’s look at how budget variance is calculated. Simply take the project cost, or its budget, and subtract from it the actual cost of executing the project . The answer to that equation is the budget variance. Therefore, the budget variance formula is:

Project cost – actual cost = budget variance

Project Budget Variance Example

We’ve explored budget variance in the abstract. It’s time to look at the concept as it plays out in a project by illustrating tracking budget variance with an example. Let’s say Acme Construction has won a bid to build a garage with a budget of $250,000. Halfway through the project, they noticed by tracking the planned budget against the actual costs at that point that they have spent $150,000.

The general contractor sees that at that rate the project will go over budget, which means that the contractor will lose the profit margin or have to solicit more funds from the property owner. To remedy this situation, the contractor reallocates resources to have his crew and the subcontractors working on the job do their tasks more efficiently.

Tracking project budget variance again, the costs are now more aligned with the budget. By continuing to track the budget variance, the general contractor can keep the project on budget and, in so doing, maintain the profit that is built into that budget.

To see what that project budget variance example looks like on a real budget, download this free project budget template for Excel . It can be used to accurately estimate the project budget or play around with it and see how to track budget variance.

The free project budget template lists tasks and their associated labor, materials and miscellaneous costs. But there’s also a way to track project variance with a column for the budgeted, actual and balance, which shows if the project is in the red or not.

Common Causes of Budget Variance

There are generally four things to look out for when managing a project and trying to avoid the actual cost of executing it be more than the budgeted cost. Let’s look at some of the issues that project managers need to keep an eye out for.

Inaccurate Cost Estimation

Budgets are estimates. It forecasts the cost of the project as accurately as possible using a variety of techniques and the experience of those involved. However, it’s not an exact science. If the estimate wasn’t thorough enough or the calculation was poorly done, then the result is an imbalance in budget variance.

Changing Supply Prices

While project managers want to tie down suppliers and vendors with contracts that lock in the price they pay, there are often market powers beyond control that will impact these costs. If a certain raw material is contracted for, but there’s a supply chain shortage with no adequate substitute, then prices will change and impact the budget variance.

Low Performing Teams

Of course, budget forecasts could be spot on and supply chain issues nonexistent and still the actual cost of the project dwarfs the budget. That could be low-performing teams. If the wrong team is in place or even if the right one has been assembled, but they’re poorly managed or have low morale, it will negatively impact the project plan and its budget.

Scope Creep

Scope creep is when the project’s scope expands beyond what was originally planned without there being appropriate adjustments to the budget, schedule or resources. This will likely create delays, cost overruns and other issues that result in actual costs going over what had been budgeted for the project.

How ProjectManager Helps Track Project Variance

Use the project budget template to see how tracking budget variance works. However, templates are not great for managing budgets. They’re static documents that require someone to input data, which is labor-intensive and prone to human error. Project management software is a better tool. ProjectManager is award-winning project and portfolio management software that has robust Gantt charts that capture human and nonhuman resource costs, can set a baseline and track planned against actual costs in real time.

Track Costs at the Task Level With Multiple Project Views

The Gantt chart is a great planning and scheduling tool, but it’s only one of multiple project views available to manage projects. There are kanban boards that visualize workflow, task lists to focus on work and the sheet view, which is a spreadsheet. All of those views allow users to track budget variance at the task level. Hourly costs can be tracked on tasks. By cost tracking data, such as labor, materials, etc., helps to keep projects from going over budget.

Monitor Project Budgets With Real-Time Dashboards

Once a baseline has been set on the Gantt chart, budget variance can be tracked throughout the software. The real-time dashboards or portfolio dashboard that can track budget variance in projects and portfolios. Get a high-level view of key performance indicators (KPIs), including actual, planned and budgeted costs in an easy-to-read, colorful bar chart. Unlike lightweight alternative tools, there’s no time-consuming and complicated setup required. Jut toggle over to the dashboard whenever you need to check on costs.

For a more detailed look at progress and performance, use the customizable reporting tools. Reports on variance, among others, can be generated with a keystroke. There are also status, portfolio, timesheet (to track labor costs), workload and more reports. All can be filtered to show only the data you want to see and then shared across several formats with stakeholders to keep them informed.

ProjectManager is online project and portfolio management software that connects teams whether they’re in the office or out in the field. They can share files, comment at the task level, track budget variance and more on any device, including the mobile app. Plus, email and in-app notifications keeps everyone up to date. Join teams at Avis, Nestle and Siemens who use our software to deliver success. Get started with ProjectManager today for free.

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• Project Risk Data Driving Better Project Outcomes
• NFP  / 
• Insights  / 

David Bowcott, Managing Director and Co-Leader Adrian Pellen, Managing Director and Co-Leader Gaurav Kapoor, Senior Vice President and Head of Strategy, Digital and Operations

The construction industry is becoming notorious for having a very high percentage of projects that are over budget, behind schedule and below expected benefit levels.

Could risk management information system (rmis) platforms help improve construction project outcomes.

In early 2023, Bent Flyvbjerg wrote a seminal book on project failures that went beyond the interests of the construction industry alone and enjoyed mainstream media success. This book is titled How Big Things Get Done . Bent is an academic from Oxford University and one of the leading thinkers in the construction and infrastructure industry. In this latest book on executing large projects, Bent outlines some staggering statistics about the construction sector using a database he has been compiling on the world’s largest projects (largely construction and infrastructure projects, but he does cover projects from other sectors like the IT sector).

From this data, Bent developed his theory on the “Iron Law of Megaprojects,” which states that megaprojects are often 1) over budget, 2) over time and 3) fall below expected benefit levels. Further, he states that this cycle repeats itself over and over again. The data from his 16,000-project database concludes that 8.5% of projects hit the mark on both cost and time. For all three markers, there is a shockingly small percentage — only 0.5% of all projects finish on time, on budget and at/or above expected benefit levels. In other words, 91.5% of all projects in Bent’s database go over budget, over schedule or both. 99.5% of projects go over budget, over schedule, fall short on expected benefit, or some combination of the three. This data is astounding, however, many stakeholders within the construction industry will likely not be surprised by these numbers given the substantial amount of risk associated with not only megaprojects but any construction project. (In his research, Bent Flyvbjerg shares examples of projects as small as kitchen renovations, which resulted in massive cost overruns.)

What the book How Big Things Get Done tells us is that construction projects have many risks, and given these numerous risks, there is a very high likelihood almost every construction project will fall short in one or all of the three primary project success criteria — budget, schedule and expected benefits. The book goes on to outline some of the reasons projects almost always fail to achieve some or all these goals.

In this article, we want to focus our attention on how important it is to identify your organization’s and your project’s biggest risks. How do you identify your biggest risks using the various sources of near-miss incident and claims data? Are you quantitatively determining your top risks or relying on anecdotal evidence from the employees on your projects or employees within your organizations? If you are not utilizing a sound data architecture to arrive at true quantitative evidence of your biggest risks, then how can you expect to improve project outcomes? It is like playing darts in the dark — you will struggle to change poor project outcomes if you don’t start treating your biggest project risks!

You might be surprised to learn that many construction stakeholders and insurance companies serving the construction sector do not have a formal data architecture and data capturing procedure to obtain both project and enterprise-level incident and claims data. Most construction companies, when asked to provide their insurance loss history, refer to their insurance broker, and their insurance broker turns to the construction company’s insurance company, asking them for a loss run.

The insurance company almost always will provide a loss run from the construction company’s annual policies — policies like their owned property policies, their general liability, and other annual policies like contractor professional insurance or annual environmental insurance. These annual policies generally sit in excess of the insurance procured on a project-specific basis. More often than not, annual loss runs do not include up-to-date information on claims where project-specific insurance is in place — either because it was not reported to the annual policies or because the losses were below the annual limits and were not tracked. Given the existing paradigm of how loss information is often tracked, the complete picture may be unclear. The true loss data set is often not provided on the loss runs for annual policies as insurers (and the construction companies) are not capturing incident and claims data at the project level, where multiple policies might apply.

Risk Management Information Systems — A Foundational First Step to Sound Data Architecture

To solve this problem, progressive construction stakeholders are beginning to take this lack of incident and claims data capture into their own hands. To accomplish this, many are turning to a class of technology known as a Risk Management Information System (RMIS).  A RMIS is a software solution construction stakeholders use to aggregate, analyze and manage risk-related data. There are many benefits provided by a quality RMIS beyond just incident and claims data capture, but for this article, we want to focus our energy on how a construction stakeholder can determine which RMIS is best for them and how they can customize their RMIS for the specific needs of a construction stakeholder to quantitatively identify their projects and their organization’s top risks. There is a growing view within the C-suite of progressive construction companies that adopting a construction-tailored RMIS is a foundational first step in developing an overall company-wide data lake that acts as fuel for future digital intelligence delivered by AI.

Construction stakeholders are different from most corporate users of RMIS platforms. They not only have organizational or enterprise risks that manifest and impact their annual policies, but they also have project-specific risks that manifest and impact their project and annual policies (and these projects have different characteristics like location, asset type being built, delivery model and more). Additionally, construction is done through collaboration with many stakeholders beyond their organization, and the work is often done in unique locations and with exposure to outside climate conditions. It is a very different industry from other major industries, such as manufacturing, energy, retail, technology and financial services.

Ideal RMIS Checklist for Construction Contractors

Given the industry differences, the following represent key criteria construction contractors should consider when identifying their ideal RMIS:

• Construction Industry Market Share – Does the RMIS you are considering have a strong level of experience within the construction sector?
• Ease of Use – How easy and intuitive is the system to use given your field staff will be utilizing it to accurately capture near-miss incident and claims information, including the highly valuable root cause of loss data?
• Availability on Any Device – Related to ease of use, can the RMIS be utilized via laptop, tablet and phone? The construction industry utilizes these tools rather than the desktop computer.
• Ability to Add Custom Data Fields – As referenced above, construction is a business of projects, and you need to be able to sort incident and claims data by various project criteria. To do this, you need to ensure your RMIS can not only add customized project-specific fields but also make them standardized (a drop-down pick menu) to ensure data consistency. These custom fields may include the project number, location, asset type (commercial tower, road, bridge, etc.) and project delivery model.
• Ability to Capture, Benchmark and Visualize Data (Clear Dashboard Capabilities) – Can you organize and display the data so as to make better decisions faster. Strong data visualization capabilities and ability to manipulate or sort the data to create further visualization is vital to drive better and faster decisions.
• Capture Not only Claims but Near-Misses and Incidents – Sometimes, claims are not frequent enough to create statistical value so you need to expand the number of data points by expanding the capture to incidents (which may not become claims) and even near-miss events. Can the RMIS accomplish this?
• Bespoke Reporting Capabilities – Can you easily generate reports that will drive construction industry-specific insights, and will these reports also allow for data visualization enhancements to drive the best decisions? For instance, can you create a report to compare your near-miss incidents and claims data using a project delivery model or asset type? Can you answer the question, what are the biggest risks my company will face when building a hospital using a design-build delivery model? Strong bespoke reporting capabilities will allow you to produce reports/dashboards that can answer these types of questions.
• Ability to Easily Transport Data to and from Other Systems (via Application Programming Interface (APIs)) – Can the RMIS easily integrate with other systems data to create a more robust data set from which to drive better decisions?
• Ability to Tag Project Risk Controls and Measure the Risk Control’s Impact on Losses – Can your RMIS allow you to identify projects that are using specific risk controls, and over time identify the “before and after” mitigation of risk caused by specific risk controls?
• Workshops, Peer Group and Educational Events – Does your RMIS provider and broker partners host educational sessions on how to get the most out of your data as a construction stakeholder? Do they create environments for you to network and share ideas with industry peers?
• Cost – Are you getting the value for the costs of the RMIS?

The checklist above represents some of the top criteria any construction stakeholder should consider when seeking to establish a RMIS. Identifying the ideal RMIS for your needs is step one. Step two is customizing and implementing the RMIS. For that, you should harness the power of a trusted, knowledgeable risk advisor with expertise who understands both the RMIS technologies best suited for construction stakeholders and the risk controls that can treat the top risks identified by your new RMIS platform.

Take Control of Your Risk Management

Contact our risk advisory experts today to learn how we can help you select, customize and implement the optimal RMIS solution for your construction business:

David Bowcott Managing Director and Co-Leader NFP Construction and Infrastructure Group O: 416.566.5973 | [email protected] | NFP.com

Adrian Pellen Managing Director and Co-Leader NFP Construction and Infrastructure Group O: 773.231.9080 | [email protected] | NFP.com

Gaurav Kapoor Senior Vice President and Head of Strategy, Digital and Operations NFP Construction and Infrastructure Group O: 416.670.1113| [email protected] | NFP.com

Disclaimer:

NFP Corp. and its subsidiaries do not provide legal or tax advice. Compliance, regulatory and related content is for general informational purposes and is not guaranteed to be accurate or complete. You should consult an attorney or tax professional regarding the application or potential implications of laws, regulations or policies to your specific circumstances. Insurance services provided by NFP Property & Casualty Services, Inc. (NFP P&C), a subsidiary of NFP Corp. In California, NFP P&C does business as NFP Property & Casualty Insurance Services, Inc. (License # 0F15715)

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Stay on track of project tasks, budgeting, and more with a $20 Microsoft Project license

No matter what profession you’re in, you likely deal or lead projects on a regular basis.  Project organization and management  can be a difficult task, but Microsoft Project Professional 2021 can help you start and end your projects successfully.

Through May 22, Microsoft’s leading project management suite (4.4-star rated on GetApp!) is less than $20. It’s a one-time fee that opens lifetime access to tools for auto-population, task reports, and more.

Project offers a wide range of pre-made project management templates to get started on the right foot and can be  synced with Project Online and Project Server for greater ease of use .

If you’re a project manager, you can benefit from this suite’s easy timesheet submission tools, which allow you to view time spent on projects and differentiate them from project work and non-project work.

Managers and business leaders can also run what-if scenarios to see how your project may turn out, as well as auto-populate start and end dates. You can even get a visual representation of complex project schedules with integrated timelines.

From May 13 through 22 at 11:59 PM Pacific, you can get  lifetime access to Microsoft Project Professional 2021 for Windows  for just $19.97. No coupon necessary!

Microsoft Project Professional 2021 for Windows

Only $19.97 at Macworld

StackSocial prices subject to change.

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• Crime, justice and law
• Prisons and probation

Unpaid Work Management Information

Management information for Unpaid Work including starts, delivery, caseloads, terminations, and the Project Clean Streets pilot, April 2022 to December 2023.

Applies to England and Wales

Unpaid work management information main points, unpaid work management information release guidance, unpaid work tables.

MS Excel Spreadsheet , 53.6 KB

This file may not be suitable for users of assistive technology.

Unpaid Work Project Clean Streets Tables

MS Excel Spreadsheet , 26.1 KB

Unpaid work, also known as community payback (or colloquially as community service) is one of the options available to sentencers at court. Individuals can be sentenced to undertake between 40 hours and 300 hours of unpaid work which should be completed in 12 months from sentencing. 

The main purpose of unpaid work is to provide punishment and reparation, with individuals carrying out work on projects which benefit their local communities.

Pre-release access

The bulletin was produced and handled by the ministry’s analytical professionals and production staff. For the bulletin pre-release access of up to 24 hours is granted to the following persons:

Ministry of Justice:

Secretary of State and Lord Chancellor; Minister of State (Prisons and Probation); Permanent Secretary; Director General Performance, Strategy and Analysis Group; Press Office x4; Head of HMPPS Performance, Prison, Probation and Reoffending data and statistics; Deputy Director, Prison, Probation and Reoffending data and statistics; Head of Community Performance; Senior Probation Performance Analyst x2; Probation Performance Analyst; Assistant Economist

HM Prison and Probation Service:

Deputy Director, Sentence Management and Unpaid Work; HMPPS Director General Operations; Chief Probation Officer; HMPPS Director General CEO

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