Update: 11/2/2015: As can be expected, the project management landscape has changed even more over the past two years. We’ve updated this post with 20, instead of the original 14, surprising project management statistics so that this list stays up to date.
The project management landscape is changing.
With an increased emphasis on efficiency, reporting, and a newfound stress on the information technology industry, being a project manager today is radically different than being a project manager in 2005.
With the changes in the industry, it’s easy to lose track of how often projects fail, what that can cost companies, and how the PM role has changed. Below are 20 surprising statistics that reveal how project management is performing across industries.
1. One in six IT projects have an average cost overrun of 200% and a schedule overrun of 70%. (Source: Harvard Business Review) <<Tweet this stat
2. The United States economy loses $50-$150 billion per year due to failed IT projects. (Source: Gallup Business Review) <<Tweet this stat
3. 75% of business and IT executives anticipate their software projects will fail. (Source: Geneca) <<Tweet this stat
4. 50% of all Project Management Offices (PMOs) close within just three years. (Source: KeyedIN) <<Tweet this stat
5. Fewer than a third of all projects were successfully completed on time and on budget over the past year. (Source: Standish Group) <<Tweet this stat
6. Barely over half (56%) of project managers are certified. (Source: Wrike) <<Tweet this stat
7. An astounding 97% of organizations believe project management is critical to business performance and organizational success. (Source: PricewaterhouseCoopers) <<Tweet this stat
8. The median salary for project managers is $87,500 in the U.S. (Source: Glassdoor) <<Tweet this stat
9. There are projected to be 15 million new project management jobs within the decade. (Source: Project Management Institute) <<Tweet this stat
10. 33% of projects fail because of a lack of involvement from senior management. (Source: University of Ottawa) <<Tweet this stat
11. Businesses identified “capturing time/costs against projects” as their biggest project management challenge. (Source: The Access Group) <<Tweet this stat
12. Reliability, ease of use, and ease of integration are the top three requirements project managers look for when shopping for software. (Source: The Access Group) <<Tweet this stat
13. 66% of project managers identified level of support as the key decider in investing in a new software. (Source: The Access Group) <<Tweet this stat
14. 44% of project managers use no software, even though PWC found that the use of commercially available PM software increases performance and satisfaction. (Source: Pricewaterhouse Coopers) <<Tweet this stat
15. Two-thirds of companies are communicating with clients using project management software. (Source: Capterra)<<Tweet this stat
16. Project managers were 13% less likely to use story mapping tools in 2014 than in 2013. (Source: VersionOne) <<Tweet this stat
17. 75% of IT executives believe their projects are “doomed from the start.” (Source: Geneca) <<Tweet this stat
18. High-performing organizations successfully complete 89% of their projects, while low performers complete only 36%. (Source: PMI.org)<<Tweet this stat
19. 63% of companies defer to executives to decide when to eliminate or put off a project. (Source: InformationWeek)<<Tweet this stat
20. 49% of organizations have a project management training program in place. (Source: PM Solutions) <<Tweet this stat
What other statistics do you think are relevant to the PM industry is it continues to evolve? Add them in the comments below!
Don’t want to become a statistic? Capterra offers a directory of over 350 different kinds of project management software products to help project managers find their software solutions.