How does project management maturity enable organizational success?
Posted on August 16, 2012
Project management maturity is a progressive process during which organizations experience notable improvements at different stages of development. Those that follow the PMMMSM notice valuable results, such as shorter project completion times, better control of project costs, and improved strategic management decision-making in only six months; and sustainable growth and profitability long-term.
Ultimately, once an organization reaches its highest desired maturity level, it has adopted a project management culture able to significantly optimize efficiency, sales, and profitability. A research report, "Project Management Maturity: A Benchmark of Current Best Practices," conducted by PM Solutions Research (formerly the Center for Business Practices), shows that improving an organization’s level of project management maturity results in significant performance benefits, especially in customer satisfaction. Among other key findings of the survey:
- Improving the level of project management maturity results in significant performance benefits, especially in customer satisfaction (30% of organizations showed more than 25% improvement)
- The higher the level of project management maturity, the better the performance, in all areas measured
- Overall project management maturity grew by 26% from 2001 to 2006, and the biggest improvements were in risk management, followed by procurement management and cost management
