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  • 94 Essential Project Management Statistics: Project Management Statistics You Can’t Ignore: 2019 & 2020 Market Share & Data Analysis

94 Essential Project Management Statistics: Project Management Statistics You Can’t Ignore: 2019 & 2020 Market Share & Data Analysis

Category: B2B News

Project management software constantly evolves with the emerging technologies and approaches to planning, budgeting, resourcing, data mining, time tracking and delivering projects. For example, look at how organizations have ceased choosing either agile or Waterfall project management methodologies and instead take the best of both worlds for a hybrid approach, a development that not many would have foreseen just a few years ago. Actual business needs demanded that project managers take a different route, and the results of extensive project management software research among developers yielded what we see now being implemented by project management practitioners.

These are just a few examples. Here, we present the most pressing project management software statistics to keep you abreast of industry best practices without having to expend your own precious time and resources. Take a look at how the industry and the practice have been shaping up these past few years and into the next few ones with this collation of project management software data and statistics.

key project management statistics

1. State of the Industry Statistics

Looking at the state of the project management software industry, what would strike most analysts is how it has taken off slowly relative to other business tools. This, despite the proven efficacy of these applications in solving project management problems, when implemented the right way. While many project managers in the past were justified to see project management software as way too complicated with steep learning curves, recent strides have largely addressed this, with most project management software dashboards now getting as intuitive and easier to use as other software categories. The figures below suggest how you could put project management software to good use in your own business.

  • Organizations that use proven PM practices waste 28x less money than their counterparts. (CIO)
  • Only 58% of organizations fully understand the value of project management. (PMI)
  • Only 22% of organizations use a project management software. (Wellingtone 2018)
  • The project management software market is expected to register a CAGR of 10.17% from 2019 – 2024. (Mordor Intelligence)
  • The project management software market size is projected to reach $6.68 billion by 2026 (Transparency Market Research)
  • The project management software market share is led by Jira at 39.35%, Microsoft Project at 18.66% and Smartsheet at 9.26%. (Datanyze)
  • The percentage of organizations using spreadsheets to manage projects dropped from 74% in 2017 to 67% in 2018. (VersionOne)
  • More respondents are somewhat or very dissatisfied with the current level of PM maturity in their organization: 56% in 2018, up from 50% in 2017 and 45% in 2016. (Wellingtone 2018)
  • 9.9% of every dollar is wasted due to poor project performance—that’s $99 million for every $1 billion invested. (PMI, “Pulse of the Profession 2018”- PDF download)
  • 73% of businesses believe that reliability, ease of use, and ease of integration are the top three requirements to look for when investing in digital PM software, yet they believe that the solutions out there today do not have these 3 factors. (Hive)
  • 44% of project managers use no software. (PWC – PDF download)
  • Project management Professional (PMP) certificate holders earn salaries that are 23% than those without PMP certification. (PMI, 2018)
  • As of September 2019, the average base pay for a project manager was $75,474 per year. (Glassdoor, 2019)
  • By 2027, 87.7 million employees will be required to work in the project management field. (Think Tank Consulting, 2017)
  • In 2017, employees working in the project management field earned 82% higher than the non-project management related workforce.  (Think Tank Consulting, 2017)
  • Approximately, there were 16% more organizations with a PMO  in 2017 than in 2016.  (Wellingtone, 2017)
  • 75% of small organizations have a PMO, whereas 83% of midsized and 95% of large organizations have PMOs. (PMSolutions, 2016)  
  • Most importantly, in 2017, 56% of organizations used a PMO to streamline project tasks, a 4% drop from 2016 figures. (KPMG, 2017)
  • In addition, 39% of organizations in Australia always or often report project benefit tracking variations. (KPMG, 2018)
  • 76% of business leaders believe agile will be the new norm for projects. (KPMG, 2017)
  • Besides, 63% of business leaders claim that the maturity of agile project management is lower than that of traditional project management. (KPMG, 2017)
  • 68% of organizations reported using contract or outsourced project managers.  (PMI, 2018)

2. Project Planning Statistics

Most projects live and die at the design and planning stage. Just the inability to make the most of project management big data could have you start with the wrong sourcing partners, undermining the success of your project early on. You could be using one methodology in one department, while the other departments use their own. These information silos will cost your business in the short and long run unless you begin to gather your teams and work your way to a standard methodology throughout the organization. A choice of dedicated software can also go a long way in this direction. There are project management solutions for developers and project management apps for small business, so get one that is designed for your case scenario.

  • 55% do not have access to real-time project KPIs. (Wellingtone 2018)
  • 60% of project managers report that they always apply a defined project methodology. (Wellingtone 2018)
  • Only 23% of cost reporting is generated from project management software. (PWC)
  • 53% cite portfolio management capability as key to project success. (PWC )
  • Also, 66% of all project schedules are baselined. (Wellingtone, 2017)
  • 51% of project management professionals claim that benefits realization is the most difficult project management process to embed. (Wellingtone, 2017)
  • Also, 85% of high-performing businesses have put in place a proper project management training program. (PMSolutions, 2016)
  • Moreover, 71% of organizations always, often, or sometimes use agile techniques for their projects. (PMI, 2017)
  • 57% of manufacturers use a combination of project management techniques. On the contrary, only 27.4% use agile methods, and 25.5% use the waterfall method. (LiquidPlanner, 2017)
  • The top agile methods employed by organizations include scrum (58%), scrum/XP Hybrid (10%), custom hybrid (8%), scrumban (7%), and kanban (5%). (VersionOne, 2016)
  • Overall, in 2017, the most used project management method was predictive methods (47%), followed by agile (23%), hybrid (23%), and other approaches (7%)> (PMI, 2018)
  • 60% of organizations manage projects within a standardized portfolio structure. (KPMG, 2017)
  • Additionally, in 2017, 80% of organizations were using more than one project management methodology. (KPMG, 2017)
  • Surprisingly, 29% of projects do not undertake change management initiatives. Plus, of the projects that do, only 3% perceive it to be highly effective. (KPMG, 2017)
  • Moreover, 25% of PMOs are highly effective in facilitating change in organizations. (KPMG, 2017)
  • 39% of organizations in Australia regularly track variations to project benefits. (KPMG, 2018)
  •  Also, 49% of organizations in Australia use a centralized PMO to streamline project activities. (KPMG, 2018)
  • Even more, 76% of organizations expect to implement more agile techniques than traditional methods in the next three years. (KPMG, 2017)
  • 80% of high-growth organizations have a PMO, and 72% of these organizations claim there is an impressive level of alignment of organizational strategy and their EPMO. (PMI, 2018)
  • 77% of EPMOs are tasked with establishing and monitoring project success metrics. On the other hand, 73% of these offices play an important role in standardizing project management. (PMI, 2018)

10 Primary Causes of Project Failure in 2017

10 Primary Causes of Project Failure in 2017
Change in organization's priorities: 39%

Change in organization's priorities

39%
10 Primary Causes of Project Failure in 2017
Change in project objectives: 37%

Change in project objectives

37%
10 Primary Causes of Project Failure in 2017
Inaccurate requirements gathering: 35%

Inaccurate requirements gathering

35%
10 Primary Causes of Project Failure in 2017
Inadequate vision or goal for the project: 29%

Inadequate vision or goal for the project

29%
10 Primary Causes of Project Failure in 2017
Poor communication: 29%

Poor communication

29%
10 Primary Causes of Project Failure in 2017
Poorly defined opportunities and risks: 29%

Poorly defined opportunities and risks

29%
10 Primary Causes of Project Failure in 2017
Inaccurate cost estimates: 28%

Inaccurate cost estimates

28%
10 Primary Causes of Project Failure in 2017
Inadequate sponsor support: 26%

Inadequate sponsor support

26%
10 Primary Causes of Project Failure in 2017
Resource dependency: 26%

Resource dependency

26%
10 Primary Causes of Project Failure in 2017
Inaccurate time estimate: 25%

Inaccurate time estimate

25%

Source: PMI

Designed by

Most Popular Project Management Software

  1. monday.com is an award-winning project management platform that provides a visual and collaborative space for teams to plan, organize, and track project progress. It has a simple and intuitive interface for an easier onboarding and faster adoption of your team. To know more of its full features, you can check out our monday.com review.
  2. Wrike is a cloud-based collaboration and project management software. It provides real-time reports and status updates on your projects. You can find out more about its features in our Wrike review.
  3. Smartsheet is a flexible project management software suited for organizations of all sizes. It has planning, automating, and reporting tools to give your team a more effective workflow. Know more about its features in our Smartsheet review.
  4. Asana allows you to track and manage all your projects in a single platform. It streamlines communication across your organization and lets you plan and set goals with your team. More details about its features can be found in our Asana review.
  5. Jira is perfect for developer teams for planning, tracking, and releasing a software. It lets you create a custom workflow that best suits your team. You can learn more about its tools in our Jira review.

3. Project Budget Statistics

One of the most prominent project failures, that of KMart’s colossal $1.2 billion IT modernization project, is a stark reminder for every business to keep a tight watch and control of project budgets. Take heed of how the best project management performers do it, something that you could also do with the help of the leading budget management tools out there.

  • 60% of projects are mostly or always completed on budget in 2018, up from 50% in 2016. (PMI, “Pulse of the Profession 2018” – PDF download)
  • 27% of projects go over budget. (Harvard Business Review)
  • 17% of IT projects turn into “black swans” with a cost overrun of 200% and schedule overrun of 70%. (Harvard Business Review)
  • Failed IT projects cost the United States $50 – $150 billion in lost revenue and productivity. (Gallup)
  • Also, IT projects with budgets exceeding $1 million have a 50% higher failure rate than projects with budgets below $350,000. (Gartner, 2012)
  • On average, organizations with high maturity value delivery capability lose 27% of their budgets when projects fail. On the other hand, organizations with low maturity value delivery capability lose 37% of the budgets when projects fail. (PMI, 2018)

4. Project Performance Statistics

Key factors to the best performing projects include well-trained professionals, the widespread adoption of PMOs, and doing your homework over project risk management. If your business finds it hard to implement effective training courses for your project managers, consider getting the help of outside professionals. If doing it in-house appeals more to you, consider investing in the most capable learning management systems instead.

  • 77% of high-performing projects use project management software. (PWC )
  • 36% of projects mostly or always deliver their full benefits. (Wellingtone 2018)
  • When asked which activities their PMOs are mostly active with, 27% point to mentoring project managers. (Wellingtone 2018)
  • 62% always or mostly engage in risk management (Wellingtone 2018)
  • 40% of projects are mostly or always completed on time. (Wellingtone 2018)
  • Only 23% of organizations use standardized project management practices across the entire organization. (PMI)
  • 50% spend one or more days annually collating project reports. (Wellingtone 2018)
  • 80% of organizations have 1 or more PMOs; 25% of these are less than 2 years old. (Wellingtone 2018)
  • Interestingly, 84% of organizations with PM offices don’t have consistent KPIs to demonstrate the value of their PMO.  (Wellingtone, 2017)
  • 65% of higher performers derive significant value from improving the synchronization of projects with organizational objectives. (PMSolutions, 2016)
  • Surprisingly, only 2.5% of organizations complete 100% of their projects. (PWC, 2014)
  • The most important project metrics for manufacturers include product delivered to specification (56.6%), meeting project deadlines (52.8%), quality (50%), customer satisfaction (49.1%), and no cost overruns (31.1%). (LiquidPlanner, 2017)
  • The top three benefits of agile project techniques include the ability to manage to change priorities (87%), increased team productivity (85%), and improved project visibility (84%). (VersionOne, 2016)
  • On-time delivery (58%), product quality (48%), and customer satisfaction (46) are the top three measures of agile techniques success. (VersionOne, 2016)
  • Agile projects are 28% more successful than traditional projects. (PWC, 2017)
  • According to PWC, sound change management practices bring 143% in return on investment (ROI) for projects. (PWC, 2014)
  • 61% of organizations ‘say that project success rates have improved over the last two years. (KPMG, 2017)
  • Approximately 33% of organizations deliver projects that meet the business objective or original goal. On the other hand, 34% of organizations deliver projects that achieve stakeholders’ satisfaction. (KPMG, 2017)
  • In 2017, 45% of organizations in Australia completed more than 50 projects. (KPMG, 2018)
  • On average, organizations with high-value delivery maturity complete 64% of their projects in time. (PMI, 2018)

Project Management Performance in 2018

Project Management Performance in 2018
Projects that met original goals: 78%

Projects that met original goals

78%
Project Management Performance in 2018
Project completed within budget: 67%

Project completed within budget

67%
Project Management Performance in 2018
Project completed on time: 64%

Project completed on time

64%
Project Management Performance in 2018
Project experiencing scope creep: 45%

Project experiencing scope creep

45%
Project Management Performance in 2018
Projects deemed failures: 12%

Projects deemed failures

12%

Source: PMI

Designed by

5. Project Failure Statistics

If project reworks, out-of-sync project teams and executives, and haphazard business objectives are taking their toll on your business projects, it’s time to rethink and overhaul your overall implementation of project management across your organization. Perhaps your project managers and executives hold conflicting KPIs from the start, or are not using the right time tracking software to manage how workers handle their time and individual tasks.

  • 80% of respondents in a Geneca survey said that they spend half their time on rework. (Geneca)
  • An incredible 70% of organizations have suffered at least one project failure in the last 12 months. (KPMG – PDF download)
  • 50% of the reasons for project failure are attributed to bad estimates/missed deadlines, scope changes and insufficient resources. (PWC)
  • 41% say inadequate sponsor support is the primary cause for project failure. (Pulse of the Profession 2018)
  • 50% of respondents indicated that their project failed to consistently achieve what they set out to do. (KPMG)
  • To the question which project management challenges showed the most significant increase, lack of funding came on top, at 71%. (Wellingtone 2018)
  • Managing project costs (50%), meeting deadlines (46%), and sharing information (44%) are the top project management challenges facing manufacturers. (LiquidPlanner, 2017)
  • 46% of organizations claim that agile projects failed because of the incompatibility between company culture and core agile values. (VersionOne, 2016)
  • 25% of projects with budgets exceeding $350,000 fail because of runaway budget costs. (Gartner, 2012)
  • Also, business leaders claim that 37% of projects fail due to a lack of clear goals. (PMI, 2017)
  • The average cost overrun of all projects is 27%. (PMI, 2017)
  • Also, approximately 60% of all failed projects have a duration of less than one year. (PWC, 2014)
  • Furthermore, 39% of projects fail due to the lack of resources, planning, and activities. (PWC, 2014)

The future belongs to AI, machine learning and the Internet of Things. If you are not watching the latest project management statistics and developments, then don’t be surprised to see a startup or an old competition jump ahead of your business in the pecking order of customers. AI is encroaching on every facet of businesses, and shows no sign of stopping soon. Businesses are accumulating big data left and right, and only the best artificial intelligence software could make any sense of them, for example.

  • 87% of workers report that they expect AI to change their jobs in the next 3 years. (Atlassian)
  • 76% of workers say that some to half of their jobs could be performed by a robot, algorithm, AI device or other technology. (Atlassian)
  • Timekeeping tools will become more advanced to tackle the $7.4 billion lost every day due to ineffective documentation. (SelectHub)
  • Collaborative workspaces will increase in project management suites to address 60% of projects currently made up of dispersed teams. (SelectHub)
  • The gig economy will continue to rise; currently, more than 68% of organizations report using outsourced or contract project managers. (PMI, “Pulse of the Profession 2018”)
  • Organizations will place more emphasis on soft skills, 51% of them reporting that soft skills are gaining more importance today. (PMI, “Pulse of the Profession 2018”)
  • Organizations will increasingly rely on hybrid project management methodologies like Agile and Waterfall, the use of which has made them achieve goals 73% more often. (PMI, “Pulse of the Profession 2018”)
  • As of 2017, 50% more organizations were using Microsoft Project Online than in 2016. (Wellingtone, 2017)
  • Interestingly, of the organizations that have implemented project management solutions, 42% have received some, most, or all the intended benefits.  (Wellingtone, 2017)  
  • Surprisingly, only 16% of organizations used the appropriate resource management solution in 2017.  (Wellingtone, 2017)
  • By 2030, 80% of routine tasks in PM will be eliminated through the collaboration of smart machines and humans. (Gartner, 2017)
  • The top tools used for agile project management include Microsoft Excel (60%), Atlassian/Jira (51%), Microsoft Project (33%), VerisonOne (28%), Microsoft TFS (24%), and Google Docs (18%). (VersionOne, 2016)
  • The top factors influencing project management software purchase decision include functionality (40%), ease of use (24%), and price (9%). (Statista, 2015)

Source: Wellingtone.co.uk, 2017

Future-proof your business with these industry insights

With your own business to mind and projects to attend to, use these critical project management software statistics to polish your project processes or, if you have been seeing drastic results from them, to commit sweeping changes completely. Project teams that use their own methodologies and go about with their own objectives hurt your ROI, and if your resources are limited, you might as well say goodbye to your business soon.

Knowing how to make project management software more efficient and getting it used by your key personnel should help you arrest some of the negative practices of your workers in the past. Many project management tools are specially designed to work with distributed groups, making it easy to share information and collaborate on tasks. You can even replace email communication with project management software to keep everyone in the loop. Moreover, many vendors allow you to test-drive their platform so you know whether it agrees with your own working patterns. Once you have decided on a specific solution, you can follow these 10 steps on how to successfully implement project management software.

By Nestor Gilbert

Senior writer for FinancesOnline. If he is not writing about the booming SaaS and B2B industry, with special focus on developments in CRM and business intelligence software spaces, he is editing manuscripts for aspiring and veteran authors. He has compiled years of experience editing book titles and writing for popular marketing and technical publications.

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