Effective project management is crucial to meeting the strategic and tactical mission of any project-oriented organization. According to the PMI’s 2019 Pulse of the Profession Study:
“…organizations wasted almost 12 percent of their investment in project spend last year due to poor performance, a number that’s barely budged over the past five years….There is no super-secret formula for project success but simply engaged sponsors, projects aligned to corporate strategy, and control over scope creep. Certainly, organizations must value project management. They may call it by a different name, but they must still recognize its power to turn ideas into reality”.
Project’s must remain focused on the mission at hand. Solid, fundamental project management is key to prevent mission creep, manage project schedules, milestones and deliverables all while controlling costs in a highly cost constrained politically charged climate. The Pulse of the Profession went onto to state that more and more, people in all roles will be hired to manage a portfolio of projects, and increasingly, those projects will be tied to technology. The Project Management Technology Quotient (PMTQ), a person’s ability to adapt, manage, and integrate technology based on the needs of the organization or the project at hand, is taking on a new urgency. A high PMTQ is defined by 3 key characteristics:
1. Always-on Curiosity: Trying out new project delivery approaches, new ideas, new perspectives, and new technologies.
2. All-inclusive Leadership: Getting the best out of your team, no matter their age, level on the organizational chart, digital knowledge, skill set or location.
3. A future-proof talent pool: Recruiting and retaining project professionals with the skills most needed for this digital era. They have the will, the disposition and the ability to keep up with trends and adapt their skills accordingly.
What is your organization’s PMTQ?