In 2004, PwC conducted its first survey on the topic of project management and found a link between higher maturity levels and high project performance. In this follow-up study, the focus was to identify leading project management practices and trends, as well as to determine the reason why projects fail. We observed the following trends and common practices (which may or may not be leading practices), based on the survey results and subsequent detailed analysis:
- Project management is closely linked to project performance
- Investing in staff development can pay off
- Project management certification has links to high-performing projects
- Using project management methodology increases the liklihood of higher-performing projects
- There is a positive correlation between use of project management software and project performance
- Overall, project reporting improvements are needed
- Portfolio management is of significant value
- Project management offices (PMOs) perform back-office/coordination functions
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