Several decades ago, few organizations understood that there is actually a defined step-by-step approach to successful project management. Most organizations ended up puzzled, trying to understand why their current projects were not ending as successfully as previous ones.
The Standish Group’s 2013 CHAOS report states that the world is spending almost 25% of its $40 trillion gross product on projects. Of that 25%, only:
- 32% of the projects are successful
- 44% are challenged
- 24% are failed
These aren't great endorsements for project management teams or those involved in project initation. These numbers reflect a strong business case for the creation of project management roles and the development of project management skills. If you have been involved with one of these endings, it is crucial for you to understand the fundamentals of what project management skills are necessary to thrive.
The Project Management Institute (PMI) was founded in 1969 to certify project managers as Project Management Professionals (PMPs). PMI’s 2012 study “PMI Pulse of the Profession” indicated that PMP-certified managers had 35% better project performance. It is important to know the attributes that not only make a project a big success but also determine a project’s life cycle and its supporting processes.
How many of us allow ourselves the time to properly approach a project and recognize its purpose and goals?
Not nearly enough. If you do not formally recognize the project's initation, you will never know when it is completed. The top six universally agreed-upon project management skills are:
- time management and scheduling
- risk management
Do you have the skills to ensure your projects are successful? Do you know which tools to apply and when? If you are aware of which phase your project is in, you can know which tools and methodology will help you succeed in moving on to the next phase in the project. The Accenture Academy course Overview of Project Management and Initiating Projects can help you master the art of project management and project initiation.
What project management skills do you feel are indespensible? Let us know in the comments.