If You Aspire to Be a High-Performing Organization, Here's What to Do First
Last week's webinar (access the recording here if you missed it) featured a live panel discussion of some of the findings from our State of the PMO 2016 research study. The president of PM College, Debbie Bigelow Crawford, used her spot on the panel to highlight findings that reveal what top PMOs do with regard to training. The role of training as a differentiator for those companies that scored in the top 25% in the study ("high performers" ... you can read about how we determine organizational performance on page 4 of the study at the above link) is impressive. High performing companies are more likely to have PMOs that offer project management training. They also offer nearly three times as many days of training per year! And, they offer more types of training, with a particular focus on advanced skills, as is shown in the graphic below.
But, as Kent Crawford pointed out during the Q&A, it isn't enough to have research that shows what PMOs do unless you also know how their activities impact the company as a whole. The statistics in the study that focus on high performing organizations make it clear that older, more mature PMOs consistently deliver solid, measurable value:
Value PMO has contributed to organization in past 12 months (Percentage or dollar improvement on average)
- Percentage decrease in failed projects 28%
- Percentage cost savings per project (% of total project cost) 26%
- Percentage of projects delivered under budget 44%
- Percentage of projects delivered ahead of schedule 38%
- Percentage improvement in productivity 37%
- Percentage improvement in time to market 33%
- Percentage improvement in customer satisfaction 36%
- Percentage improvement in projects aligned with business objectives 65%
- Cost savings per project (in US Dollars) $112K
Let's talk about how your organization can leverage project management training for competitive advantage!