We all know it: Good project management is essential for success!

Jun 27, 2012

Translation of the Original Article by Siegfried Lautenbacher 

 

Currently we are running a project about Project Management Maturity Level, and how we can improve further. A recently published study shows the importance of good project management.

 

A recently published study by the Oxford University and McKinsey examined 1,500 projects with a total volume of more than 170 million dollars. The results are startling. Here are some examples:

68% of all projects have a significant delay, 16% spend twice or more of their planned budgets, on average IT projects overrun their budget by 27%. The study itself goes much deeper into detail. It makes abundantly clear how important it is to live proper project management. The soft factors must not be neglected. Inadequate relationship management, non-inclusion those affected and inadequate communication are often the root cause for the failure. It is true, sometimes project management annoys. In order to constantly and understandably deliver excellent results for the customer, however, it remains the key to success.