Irrespective of the size of your company or the complexity of your operations, you have to maintain a profound focus on efficiency, productivity, accurate reporting, and innovation with regard to your projects, ventures, and initiatives, especially if you’d like to increase your market share and enhance your bottom line.
This is exactly where your project management matrix comes into play, namely in terms of how well you’re adapting to changing technologies, increased competition, tightening operating budgets, and mounting opportunity costs in today’s corporate arena.
Your Project Managers Can Make or Break Your Future Prospects
Over the past several years, investigative analysts from a myriad of financial organisations have been probing and examining the aptitudes of today’s project managers in an effort to determine exactly how much time and money is being wasted in the corporate landscape.
- Even though 97% of organisations believe that project management is the number-one indicator of future success, this critical corporate niche is rife with poor purchasing processes, lacklustre visibility of available resources, uninspired communication methods, and deficient integration between key departments.
- During a study of almost 1,000 corporate undertakings facilitated between 2016 and 2018, which included office relocations, hiring enterprises, departmental reformations, acquisition negotiations, and other integral efforts, researchers found that nearly 35% of projects did not have any type of baseline or stated goal. The vast majority of managers simply play it by ear as opposed to creating quantifiable strategies with predefined objectives.
- To make matters worse, 72% of all projects fail to meet at least one of the widely accepted tenets of a successful venture: proper scheduling, budgeting, quality control, and measurability.
- The failure rate of projects that have ample budgets (€1 million or more) are nearly 55% more likely to fall short of their intended goals than those with smaller budgets (below €250,000), which implies that inadequate managers tend to throw extra capital at various undertakings even if the endeavour is doomed to fail from the start.
- As such, it shouldn’t come as a shock to find out that for every €1 billion invested by UK companies, more than €120 million is wasted due to substandard project performance.
In light of these facts and figures, it’s important to note that you can revitalise and modernise your day-to-day approach simply by booking some industry-specific project management courses in London, especially if it has been years since you last scheduled a professional seminar or coaching workshop for your operational leaders.
What Can I Expect From My Local Consulting Firm?
Simply by contacting a corporate training company in your proximity, you’ll be able to inspire and elucidate your team members, operational staff, project planners, technical employees, contract specialists, and other integral talent without spending a fortune along the way.
The actual courses are extensive and rigorous but they are also very intuitive and highly effectual as evidenced by a recent finding indicating that a four-day seminar can improve your project success rate by as much as 40% while simultaneously reducing your budgetary outlays by anywhere from 10% to 25%.
The key is to partner with a distinguished training firm that features instructors with decades of corporate experience and a keen eye for emerging trends; be sure to visit the webpage of your local training firm to view their history of case studies before signing up for a course.