Businesses are going through a basic transformation in their processes and methodologies that they are adopting. ‘Thinking’ and ‘automation’ machines are replacing tasks done by humans, as well as modifying the skills that organizations desire in their employees.
The information mentioned in the article equips you with knowledge about the things that need to be considered to enhance the chances of success of the project. It also offers much-needed assistance to deal with the key challenges in this field.
What are the major challenges faced by a project management team?
Most of the organizations don’t benefit from best practices in the project management techniques and HR monitoring solutions. As seen in various organizations, a project management team faces a number of challenges. These are mentioned below as:
- Poorly trained PM’s (Project Managers)
- Trying to run a lot of projects at once
- Not much support of the senior management
- Poor management of resource
- Poorly skilled project sponsors
Innovation rules
Digital technology and platforms enable people who come with winning ideas and permits niche profit markers and specialist to flourish. In the world, where innovation outperforms regulation and ideas rule, risks are bound to be high. Thus, a business needs to create impressive and robust strategies to overcome the challenges effectively and quickly.
10 project management statistics for 2018
After a study carried out in top business firms like PWC and Wellington, a few project management statistics were defined. These are:
A lack of clearly defined business objectives goals is the commonest factor behind project failure
- Only 37% of business teams in the entire U.K. reported to accomplish projects successfully and on time quite often than not.
- 73% of employees in the U.S. have this notion that technology does not have the ability to replace the mind of the human.
- As on March 2018, the average salary of project manager countrywide is $80,854. This makes it clear that a career in project management can be a very lucrative choice.
- Between the year 2015 and 2016, % of organizations who were using spreadsheets to effectively manage their “Agile projects” reduced from 73% to 66%.
- 85% of companies have a project management office. Almost 45% of PMO staffing personnel’s have earned PMP certification.
- 90% of firms confirmed that an open source software enhanced their efficiency, innovation and
- 5% of businesses agreed that management of project cost was the main problem that was faced by manufacturing PM’s in the year 2017.
- Around 56.6% of manufacturers used a mix of PM methodologies.
- 59% of the total U.S. employees have the opinion that communication is the major obstacle to the success of their team.
Conclusion
As a PM (project manager), you have to interpret the budget, KPIs, timelines to determine when the business is heading in the right way and when modifications have to be made. The above statistics will tell the time when the business needs to upgrade from free PM software to a paid one.
