GITNUX MARKETDATA REPORT 2024

Must-Know Project Management Statistics [Current Data]

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Project management is one of the most important aspects of any organization’s success. It is the process of planning, organizing, and controlling various tasks the team performs for accomplishing the company’s goals. And the success of any project is typically measured by the statistics that are collected throughout the process. 

Keeping track of project management statistics and trends is critical for any organization, as it allows for identifying any potential problems with the project, measuring progress and success, and making informed decisions. In this article, we will look at general project management statistics, and discuss what tools and techniques are used by successful project managers.

Read more about Remote Project Management

Project Management: The Most Important Statistics

Only 23% of organizations use project management software.
Companies that invest in proven project management practices waste 28x less money.
Almost 39% of organizations are not providing any project management training to their employees.

General project management statistics

69% of project professionals say their senior leadership highly values project management, and almost half (46%) of organizations prioritize developing a culture that values project management. 

70% of organizations have suffered at least one project failure in the prior 12 months.

Undervaluing project management results in a 50% project failure rate.

For every 1 billion USD invested in the US, 122 million USD is wasted due to lacking project performance.

32% of Wellington survey respondents are satisfied with the current level of their company’s project management maturity. 

56% of project managers don’t have access to real-time project KPIs, with 43% spending 1 or more days manually collating project reports. 

Only in the US, there are around 1,279,390 employed project management specialists and business operations specialists.

4 in 10 project professionals believe that the projects they worked on are a complete success.

Team communication can be increased by 52% with the use of project management software.

The global market size of the project management industry is 138,381 companies, and there are 196 companies producing project management technologies, as reported by Datanyze. 

40% of projects mostly or always deliver their full benefits.

Statistics on project management planning

20% of project managers find all forms of documentation too overwhelming and pointless, as mostly nobody reads weekly reports and progress updates. 11% of project managers wish they could stop running regular meetings.

Organizations that are highly mature in project management capabilities outperform those that aren’t, as they met their goals 77% of the time.

60% of project managers report that they always apply a defined project methodology, and 67% of companies also include project change management in their actions.

Half of the organizations mostly or always control their project schedules.

According to 37% of executive leaders, a lack of clear goals is the most common factor behind project failure.

It is estimated that almost 54% of all organizations working on projects fail to effectively track their KPIs in real-time. Organizations generally waste 12% of their resources due to ineffective project management. 

One common complaint among many project managers is the time wasted on repetitive and tedious tasks. More than 54% of workers spend the majority of their time on tedious tasks that require no creativity and could be handled by a less expensive resource. 85% of CEOs believe that AI will completely change the landscape of their organization in the next 5 years. 54% of managers believe that they can save 5 hours a day by implementing AI-based solutions for menial and repetitive tasks. 

42% of project managers don’t use any formal methodology. Only 52% of projects regularly have a scoping document. 

Statistics on project management budget

The PMI survey revealed that an average of 11.4% of investment is wasted due to poor project performance. And organizations that undervalue project management report an average of 67% more of their projects failing outright. 

43% of companies mostly or always accomplish projects within the budget, while, 27% of projects go over budget, as stated in Wellingtone report.

61% of projects have highly involved sponsors. 

Failed IT projects cost the United States 50–150 billion USD in lost revenue and productivity, according to FinancesOnline. 

Organizations that invest in proven project management practices waste 28x less money.

9.9% of every USD is wasted due to poor project performance, that’s 99 million USD for every 1 billion USD invested.  

Statistics on project management performance

47% of project managers believe that their companies have built a track record of project success.

Hybrid methods are the most common project delivery approaches across project managers at all levels of experience. In total, 60% of project managers use these methods to deliver their projects. Hybrid approaches are a blend of traditional (e.g. waterfall) and iterative (e.g. agile) methods together.

Nearly 40% of project teams are made up of 6 to 10 people, 30% have up to 5 people, and the other 30% have more than 10 people in their project teams. 

Nearly 60% of project managers are running between 2 and 5 projects. 11% are running 6 to 10 projects, and 15% run more than 10 projects. 

61% of project managers in the UK always or mostly engage in some form of project risk management. 

The most valuable project management processes are stakeholder engagement (50%), risk management (40%), planning (35%), resource management (25%), and change control (23%) among others.

Mature teams deliver 63% of their projects on time, while the figure for others is 39%.

Statistics on project management career

1 in 5 project managers report that they are overly stressed on the job.

1 in 3 more experienced project managers have considered leaving the profession in the last year, which is slightly less than for those with some experience.

Only 47% of organizations have a defined career path for project managers. 

The top career goal for project managers is gaining a certification. 21% of project managers confirmed that this is their goal for the next 12 months.

Project management professional certificate holders earn salaries that are 22% higher than those without this certification. 

52% of companies need a project professional. It is becoming more and more important for companies to have a dedicated individual to manage projects.

According to Rebel’s Guide to Project Management, the top 5 career goals for project managers are getting certified (21%), getting a new job outside the current company (20%), getting promoted within the current company (19%), work on bigger projects (17%), and deliver high-quality projects (7%).

Almost 39% of organizations are not providing any project management training to their employees.

Project management software statistics

Only 23% of organizations use project management software, according to Wellingtone research.  

See the best Project Management Software

73% of businesses believe that reliability, ease of use and integration are the top 3 requirements to look for when investing in digital project management software. Yet, they believe that the solutions out there today do not have these 3 factors. 

44% of managers don’t believe in the use of software in managing projects. 

Only 35% of marketers are satisfied with the current level of project management tools in the market.

63% of users spent less than six months choosing their PM software, and 61% spent less than six months implementing the software, according to information from Capterra. 

At the moment, the project management software market share is led by Jira (37%), Microsoft Project (20%), Kanban (5.4%), and Smartsheet (5%).

According to Capterra’s research, the main benefits of using project management tools are improved timeline estimation (60%), more effective use of project resources (55%), enhanced team communication (49%), and improved budget estimation (48%). 

Only 35% of project managers are happy with their technology.  77% of high-performing teams use project management software. 

The use of project management software improves team communication by 52%. 

Despite the numerous benefits of the best project management software, only 1 in 4 companies use them in any capacity.

Within an organization, project team members (55%) and dedicated project managers (27%) are the main users of the actual software.  

49% of executive team members tend to pick Notion for high-level tasks and Jira for tactical tasks. 60% of teams have members in Slack or Google Workspace, while 75% of people use email to collaborate with other people in a team. 

The future of project management and the latest trends 

As reported by Findstack, project management software will reach a value of 9.81 billion USD by 2026.

The global project management software market is expected to grow at a CAGR of 13.1% to reach a value of 20.42 billion USD in 2032, according to SelectHub. 

There will be a requirement of around 25 million new project management professionals by 2030. 

51% of organizations are raising the bar on expectations and require project professionals to hold some type of certification for their role. 

58% of organizations say that project success rates have improved over the last 2 years.

Emotional intelligence and soft skills will be critical to the project manager’s role, as reported by SelectHub. By 2025, global cybercrime will cost 10.5 trillion USD annually, making investments in cybersecurity measures crucial.

Conclusion

The data from this project management statistics post shows us how important it is to have reliable data when managing a project. Knowing how to analyze and interpret data is essential for any project manager, because it provides insight into the various elements of project management, such as cost, timelines, resources, and risk.

Understanding the statistics can help project managers make better decisions and ensure that their projects are successful. By analyzing and interpreting the data, project managers can make informed decisions that will ultimately lead to the successful completion of their projects.

FAQ

What is project management?

Project management is the process of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals in scientific or daily problems.

What are the types of project management?

The three main types of project management are traditional/waterfall, agile, and hybrid.

What are the steps in project management?

The steps in project management include defining the project, setting goals and objectives, creating a project plan, allocating resources, executing the plan, monitoring progress, and evaluating results.

What is the importance of project management?

Project management is important because it helps ensure that projects are completed on time, within budget, and to the desired quality level. It also helps minimize risk and ensure that all stakeholders are actively involved in the project. 

What are the project management processes?

The project management processes are initiating, planning, executing, controlling, and closing. These processes are used to ensure that projects are completed on time, within budget, and to the desired quality level.

Resources

Capterra: “Project Management Software Market Research Report”, cited January 2023. (Source)

CIO: “Project management: Tips, tools, best practices”, cited January 2023. (Source)

Datanyze: “Project Management Software Market Share”, cited January 2023. (Source

EnterpriseAppsToday: “43+ Project Management Statistics 2022 For Better Understanding Of Project Success”, cited January 2023. (Source

FinancesOnline: “95 Essential Project Management Statistics: 2023 Market Share & Data Analysis”, cited January 2023. (Source

FinancesOnline: “101 Essential Project Management Software Statistics: 2023 Market Share & Data Analysis”, cited January 2023. (Source)

Findstack: “The Ultimate List of Project Management Statistics (2023)”, cited January 2023. (Source

Hive: “15 Fascinating Project Management Statistics”, cited January 2023. (Source

Kissflow: “15 Project Management Stats You Must Know in 2022”, cited January 2023. (Source)

Monday.com: “A monday.com report: the state of workplace automation”, cited January 2023. (Source

Plaky: “Project management statistics (2022)”, cited January 2023. (Source

PMI: “Success in Disruptive Times”, cited January 2023. (Source

PMI: “Ahead of the Curve: Forging a Future – Focused Culture”, cited January 2023. (Source

Rebel’s Guide to Project Management: “The 2021 Project Management Report”, cited January 2023. (Source

ReportLinker: “Project Management Software Market – Growth, Trends, Forecasts (2020 – 2025)”, cited January 2023. (Source

SelectHub: “Project Management Trends: Future of Project Management”, cited January 2023. (Source

TrueList: “Project Management Statistics – 2023”, cited January 2023. (Source

Wellingtone: “The State of Project Management Report 2019”, cited January 2023. (Source

ZipDo, cited June 2023: Project Management Statistics

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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