Research: Project Management 2004By CIOinsight
The sheer number of IT projects managed in the last year by the 507 companies we surveyed this month is overwhelming. And when you look at the management capabilities these companies are applying to the task, it's downright worrisome: Just two thirds of our respondents' companies are disciplined about setting and sticking to IT priorities and involving all business and IT stakeholders in setting project priorities, while less than 60 percent review completed projects to see if they achieved intended goals. Worse, more than half of IT executives say the IT project prioritization process is politically driven. And while 86 percent of those who use a project management office say it leads to more successful projects, only 40 percent of CIOs say they have a PMO in place. No wonder only two thirds of projects are likely to come in on budget, and less than 60 percent are likely to achieve ROI targets. One hopeful sign: Respondents overwhelmingly agree that portfolio management techniques lead to better investment decisions, and 40 percent of them are using this approach.