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Project and Program Management Processes Reap Profits for Companies June 30, 2004, Alexandria, Virginia— A study released today finds that organizations with project and program management processes in place, such as project portfolio management and project management offices (PMOs), are more profitable than those without them. This conclusion is the result of a survey conducted by Robbins-Gioia, the leading program management consulting firm, with approximately 80 senior-level IT professionals at the META Group conference in San Diego, March 2–3, 2004, and via PMBoulevard, Robbins-Gioia’s online resource for program, portfolio, and project management professionals and executives. The survey revealed that of those organizations that systematically align projects/programs to their overall business strategy, nearly 75 percent said they were either very profitable (exceeding goals) or gaining momentum and increasing profitability. This finding confirms that organizations that consistently prioritize and manage projects and programs for maximum organizational value—in other words, practice portfolio management and project management—are realizing greater financial returns and/or exceeding business goals. Additionally, those organizations that have an infrastructure in place to manage and oversee major initiatives in their organization also realize tangible results. Sixty-two percent of organizations with PMOs reported a “very healthy” or “healthy” state of profitability. Carina Veksler, Robbins-Gioia senior research manager, noted that there is a definite linkage between program and project management processes and an organization's profitability and viability. This finding provides insight into recent trends toward increased use of project management practices. According to “Office Discipline: Why You Need a Project Management Office” (CIO, July 1, 2003), companies seeking more efficiency and tighter monitoring of IT projects are opening project management offices to provide the structure and expertise needed to improve project success rates. The article notes that most respondents to a survey of IT executives have seen improvement in project success through their PMOs’ standardized practices and repeatable processes. In addition, the Gartner Group has published research suggesting that organizations could cut project overruns by 50 percent by “establishing enterprise standards for project management including a project management office with suitable governance.” Patricia Davis-Muffett, Robbins-Gioia vice president of marketing, commented, “Project and program management are coming of age as key disciplines in world class organizations. We are proud to be part of the return to profitability for our clients.” About Robbins-Gioia
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