The Impact of Ineffective Project Management

Project management has lots of cogs and wheels which need to run in unison to create maximum value for a project. But, today project management is not about projects anymore, it needs a holistic approach and needs to take into account real-world scenarios. In fact, covering all the aspects of project management is difficult and inefficiencies crop up during the project lifecycle.

In today’s service-based environment, it is very important to recognize problems even before they occur and get to the root of them, and nip them in the bud. So, let us take a look at the impact of ineffective project management techniques.

The Importance of Project Management

  • According to PMI’s “Industry Growth Forecast”, between 2010 and 2020, there will be 7 million new project management roles created globally which is spread across seven project-intensive industries with an economic footprint of ~USD 6.61 trillion.
  • In fact, project managers’ employment will increase by almost 60% in India, close to 33% in China, and by more than 40% in the UAE.
  • China and India also lead in estimated project-oriented job openings in 2010-2020 by 8 million and 4 million jobs respectively.

Countries with Established or Quickly Developing Project Management Industries:

Country Projected New Job Demand (By 2020) Projected New Job Openings (By 2020) Estimated Economic Impact (2020, in Billions)
Australia 375,757 759,900 519
Brazil 1,364,932 347,820 1,027
Germany 1,642,058 153,230 1,290
Canada 582,366 120,070 649
UK 946,648 177,120 891
Japan 2,610,663 387,560 1,974
China 24,906,557 8,153,340 4,540
India 8,857,645 3,975,650 1,022
UAE 57,731 177,120 176
Saudi Arabia 103,616 12,670 279
USA 700,000 2,348,830 5,813

Important Entities of Ineffective Project Management

An employee works an average of 45 hours a week. Out of which, 17 hours in a week is said to be unproductive.

On average in a week employees spend close to 5.6 hours in a meeting. And 69% of employees believe meetings are not productive.

A recent IBM report, states that 68% of project failure was due to poor project management.

In fact, 45% of senior executives in organizations the world over believe employees can be more productive if meetings were banned once a week.

According to the latest time management study, industry experts believe, on average, an employee is disturbed/interrupted at least 7 times in an hour which is close to 56 interruptions on a typical workday. The sad part is that 80% of interruptions are considered trivial issues.

Typical Traits of an Ineffective Project Manager

  • He / She is always complaining but does not offer a solutions
  • They are not proactive and do not anticipate problems to manage risks
  • Inability to manage time properly
  • Gets a bad reputation for not having good relationships
  • Lacks direction mid-project / closing the project
  • Inability to properly delegate work and manage scope
  • Lacks skills to improve his / her team’s performance

Why Does a Project Fail?

According to PMI’s “Pulse of the Profession” report, it states that organizations lose close to ~USD 109 million for every billion spent on projects and programs across the globe. Let us take a look at why a project fails in the first place.

  • The project scope is not defined properly
  • Inability to accurately estimate time and effort for the project
  • Inefficient detailing of project plans
  • Failure to identify potential risks down the line
  • Project managers who lack the necessary experience to carry out the project
  • Not using formal project management methodologies and strategies
  • Not creating a robust communication channel between team, stakeholders, and customers
  • Failure to track new requirements and changes in processes
Previous articleTop 10 Project Management Mistakes to Avoid
Next article10 Strategies to Build Successful Career in IT Service Management
Lucy Brown has many years of experience in the project management domain and has helped many organizations across the Asia Pacific region. Her excellent coordinating capabilities, both inside and outside the organization, ensures that all projects are completed on time, adhering to clients' requirements. She possesses extensive expertise in developing project scope, objectives, and coordinating efforts with other teams in completing a project. As a project management practitioner, she also possesses domain proficiency in Project Management best practices in PMP and Change Management. Lucy is involved in creating a robust project plan and keep tabs on the project throughout its lifecycle. She provides unmatched value and customized services to clients and has helped them to achieve tremendous ROI.

LEAVE A REPLY

Please enter your comment!
Please enter your name here