According to the PMI’s 2020 Pulse of the Profession, the average project wastes nearly 11.4% of its funding. Organizations that undervalue project management as a strategic competency are the hardest hit, enduring a staggering 67% project failure rate.*
Project management readiness cannot be ignored. Yet many organizations don’t know where to begin. Typically, when an organization decides it is time to explore project management training, it is usually the result of one of the following scenarios:
- A new CEO or team leader joins the company, takes an objective look at the business, and identifies a problem that needs attention to support its strategic goals.
- An organization fails to execute a particular initiative successfully, prompting a reactive evaluation of areas of opportunity and changes that must be made.
- The HR team identifies project management as a new core competency, and they need a broad-scale training program in place to level skillsets.
Without a consistent project management approach in place, project teams face greater challenges, more conflict and lower employee satisfaction. Project outcomes are adversely impacted, as well, with reduced quality and wasted time and money.
How can project management training benefit your organization?
Project management training ensures that everyone on your team employs the same basic practices, method and approach. But the benefits don’t stop there; a robust project management training program also offers wide-reaching, organizational benefits.
- Arm your workforce with leadership skills: While members of a project team may share some basic project management skills they typically possess very different project management backgrounds and levels of understanding. By aligning your team’s understanding of essential project management skills, tools and techniques, you will enable your team to better plan projects, leverage opportunities, mitigate threats, manage change, influence others, partner with stakeholders and work with difficult people—all key leadership skills.
- Improve collaboration: One of the most common barriers to project management success is the lack of one common language, which causes confusion and project delays. With project management training, project teams benefit from a standard lexicon that facilitates more productive conversation, better collaboration and improved awareness across teams. Open channels of communication foster better cross-functional teamwork with quicker response and turnaround times—a practice that can be applied to the everyday workplace.
- Boost profitability: With an organized project management methodology, your project teams can plan more efficiently, spot potentially costly issues before they become a problem, prioritize goals and allocate resources more appropriately. Equipped with these foundational skills, your teams will be able to deliver higher quality results with fewer resources—on budget, on schedule and within scope—for markedly improved profitability.
Project Management training not only offers a systematic approach to managing and controlling different types of projects – it also equips employees with portable knowledge, skills, tools and techniques they can apply in the day-to-day work environment—ultimately enabling them to add greater value to the business. To learn more about our Project Management training services, contact us today.