Project Managers, Take A Bow

If there were an Oscar for "Best Actor in the Project Recovery Category," that award would go to the Project Manager.

The results of a study on troubled projects, released last week by PM Solutions Research, show that, while companies on average annually face the potential failure of projects valued at $74 million, when they take systematic action to recover those at-risk projects, they are highly successful. And it's the project manager who is the most important player in their success.

While the 163 companies responding to the survey cited an array of challenges leading projects into trouble, from unclear requirements and scarce resources to poor estimates and unforeseen risks, nearly all of them (92%) agreed that it was the leadership of the project manager that made it possible to recoup.

So, Project Manager, put on your tux (or evening gown) and take a bow.

For a few more details on the PM's role as revealed by this research, see our post on the PM College blog.