24 October 2016

Roads & Transport Authority – Majdi Abu Zaid:

HE Mark Langley, President and Chief Executive Officer of the Project Management Institute (PMI), called for standardized Project Management concept that speaks one language about the benefits, profitability and objectives of PM. Langley made this statement during a lecture he delivered in the 3rd edition of the Dubai International Project Management Forum (DIPMF) in which he tackled the profitability through the PM concept. The PMI, he says, has conducted three studies to define profitability and how to achieve it as well as the project sustainability till the start of operation.

“Among the challenges encountered is that each organization is looking for profits without an obvious responsibility for realizing such an objective. Everyone can make a good performance, but 31% of projects, according to the CIO Report, are not based on benefits. According to McKenzie Report, 17% of IT projects have failed in maintaining the values of the concerned businesses. This is related to strategy & leadership as the lack of coherence between the two concepts results in the lack of realizing benefits.

“One of the studies compiled by the PMI found that 75% of projects examined were not ideal at the startup phase, though good. 54% of projects can identify benefits at the mid-term of the project, and 50% of firms appreciate the importance of PM and make no benefits up to mid-term of the project operation. 20% of organizations don’t have the ability to identify the responsibility of making benefits; which results from the lack of adopting a unified approach or understanding agreeable to all about the concept of PM, benefits, profits and objectives.”

Langley discussed in detail the role of the project manager in terms of efficiency and the extent of support accorded by the executive patron of the project. “Achieving benefits of any project is geared to the entity and employee relations management top-down and vice-versa,” he added.

-Ends-

© Press Release 2016