Study proves loss of productivity due to PM techniques.

Last report of 2018 from PMI reveals the loss of productivity by companies losing $1 million every 20 seconds as they don’t apply project management techniques. This is one of the last challenges that universities and study centers will have to solve.

Creating a training in project management that allows students to work in really complex and unstable environments. This is more and more needed with the current market situation. Having said that, it is extremely important that study centers collaborate with companies in building these trainings, so they are adapted to their real needs.

HR departments or HR functions, specially while working with SMEs, will need to focus on this when planning training needs for certain functions. Of course, they will also need to align these needs with the business goals.

The report above mentioned “the pulse of the profession 2018”, which is the annual study that the Project Management Institute published, analyses the health of the companies associated to the project management areas.

Following the results of this survey, organisations, big and SMES, waste around $2Billion per year in a collective way as they don’t implement best practices in project management.

The solution

New tools come to the market every day to help managing projects. New techniques and methodologies like Agile fill your dashboard on Linkedin with everyone talking about how they use on daily basis fun techniques to improve their results.

Unfortunately that is the reality in some of the big technological companies and big multinationals. Not everyone is fully trained when they reach to the project management level. Sadly, that is one of the main causes for the loss of productivity and money. It is difficult to find someone with the technical skills that the project need and the PM skills needed to make the project efficient.

More and more, the market is evolving to hire fully trained PMs where the priority is that they have experience in managing projects. HR departments are adapting their search to those skills rather than experience in the industry.

The research shows the relevance of the Project Managers and how their work has a direct impact in organisations. They speak about how the profession, borned in the XX century, is now more relevant than ever.

“A Project Manager, properly trained and with a sistematic vision has a higher chance of facing successfully the challenge of the “liquid modernity” that Bauman defined and this concept, moved to the organisational universe means working in higher levels of complexity and uncertainty”

Rafael Lostado, Director at the Project Management Masters at the European University in Spain

The report shows that one in three projects don’t meet their objectives, due to that loss of productivity. 43% of them is related to budget, but 48% of them related to time deadlines.

Dr Lostado explains how this could be solved by implementing Project management roles in the organisation¡ons’ organigram. “This profile has the vision of the project and puts right in the middle to the client. This vision has the classic skills, leadership, communication, negotiation, problem solving and the knowledge of technical solutions that help to execute a project”

The context of the current market needs more immediate results from professionals. Quality becomes more important especially in front of the clients.

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