Project management is one of those tasks that many businesses believe they are nailing.
It can be hard for those at the top to admit that things could be better or that projects could be run smoother.
So, let’s be clear about the reality by looking at some of the key statistics on project management trends taken from research by tech platforms, such as Plaky and Task Fino.
Did you know…
- Only 39 per cent of projects are completed on time, on budget and within scope.
- 18 per cent of project fail and 43 per cent of projects end up delayed.
- 59 per cent of projects end up over budget, with businesses wasting 9.9 per cent of everything that they spend.
The most common causes of project failure are…
- A lack of engaged staff and sponsors
- Unrealistic planning expectations
- Poor resource management
Perhaps it is no surprise that 71 per cent of companies believe that their employees need to improve their project management skills, according to workflow platform Monday.com.
Why invest in skills when you can outsource for less?
If many of the worrying stats above sound like the challenges you face, why not outsource the management of your business’s critical projects?
At Moore Thompson, we provide a dedicated Project Management service, which helps your project stay on time, on budget and well-managed.
If you would like to know more about our expertise in this area, please get in touch.