Are you looking for the top project management statistics? Here’s an article that includes all the important stats around project management process and project management software that you need to know.
When we talk about managing a project, it includes a number of different processes. Starting from getting a click on board to delivering a project, it includes a number of internal steps and communications that needs to be dealt effectively.
There are a number of top project management software these days that can take care of all those steps effectively from a single dashboard and make sure that you are able to deliver the project on time.
Even if you have all the resources, there are a lot of projects that fail. While the reason of failing can be different for different projects, these trends and analytics will help you understand how the market is evolving and what you need to take care of.
So, let’s have a look at the important project management statistics.
1. Only 22% of organizations effectively use project management software
According to Wellingtone reports, only 22% of organizations effectively use project management software. This number is expected to grow in the upcoming time due to increasing project complexity and a surge in the number of people working on projects.
A good quality project management software like ClickUp can be very effective in making your project a success. It can help you to reduce cost and make your team a lot more productive.
2. 9.9% of every dollar is wasted due to poor project performance
According to PMI reports, an average of 9.9% of every dollar invested in projects is wasted due to poor performance. To put this equation in context, for every $ 1 billion, $ 99 million is wasted. It is a considerable number, and effective project management can lower this number.
3. Cloud-based project management market will cross $6.88 billion by 2026
According to Mordor Intelligence, the cloud-based project management market will reach $6.88 billion by 2026, registering a CAGR of 17.2% during the forecast period. The increasing adoption of digital technologies and the need for improved communication and collaboration are the key factors driving the growth of this market.
4. Project Management software can save an average of 10 minutes per day
According to WorkZone reports, the average project manager spends 10 minutes per day using project management software. This number has been increasing steadily over the past few years, as project management software becomes more and more commonplace in the workplace.
5. There are more than 16.5 million project managers in the world
According to the Project Management Survey, there are more than 16.5 million project managers globally. This number is expected to grow by 20% in the next five years.
6. 44% of project managers do not use any software
According to PWC reports, 44% of project managers do not use any software to help manage their projects. This number seems high, but it’s likely because many organizations do not have a formal project management structure or process in place.
But, as projects become more complex and organizations increasingly adopt project management best practices, the use of the software will become more widespread.
7. The shortage of project managers could result in a GDP loss of $207.9 billion by 2027
According to PMI reports, the global shortage of skilled project managers will result in a GDP loss of more than $207 billion by 2027. Companies need to invest in employee development and training programs to overcome this.
8. Around 77% of good-performing projects actively use project management software
According to PWC reports, projects that use project management software have a much greater chance of being completed successfully. The success rate for these projects is around 77%. This stat shows the importance of effectively using a robust project management tool to ensure higher agility and success rate.
9. The entire project management market size will hit USD 9.81 billion by 2026
According to Mordor Intelligence reports, the size of the global project management market was USD 5.01 billion in 2016 and is estimated to reach USD 9.81 billion by 2026, registering a CAGR of 7.5% during the forecast period.
10. Jira leads the project management tools market with a 39.35% share
According to report, Jira is the leading project management tool with a market share of 42.03%. It is based on the number of users and the features offered by different tools. Jira comes out on top for its ability to manage large projects and its flexibility in terms of pricing.
11. 56% of organizations find the cost of PM software the biggest factor not to use them
According to Go Remotely, more than half of the organizations find “cost” the most significant factor that doesn’t allow them to use project management software.
This factor may lead to slower progress and communication in projects. In addition, bad planning or execution can also increase costs.
12. Companies spend an average of $861/month on project management software
According to Capterra, the average company spends $861/month on project management software. It is to ensure projects are completed on time and under budget. In the same study, it was found that organizations that adopt project management practices have a success rate of 77%.
13. Around 234,883 project management jobs are listed every year in the US
According to Federal Times, the number of project management jobs in the United States list every year is around 234,883. In addition, thousand project management positions go unfilled each year. It may happen because of many reasons, including the inability to find the best-qualified person for the job.
14. In the upcoming five years, employers will need 87.7 million professionals for project management
According to PMI, employers will need 87.7 million professionals for project management by 2020. This number is based on the projected growth of project-oriented jobs and the retirement of baby boomers. In addition, project management is one of the top ten most in-demand professions.
15. The average salary for a Project Manager is $76,719 per year in the US
According to Indeed, the average salary for a Project Manager is $76,719 per year in the United States. This number is based on an analysis of Indeed salary data. Post-COVID, Indeed data shows that the number of jobs in project management has grown.
16. Professionals with a PMP certificate earn 23% more than those without
According to PMI reports, certified project managers earn 23% more than those without a PMP certification. Therefore, this certification plays a crucial role in career advancement and ensures that project managers are up-to-date on the latest best practices. More project managers are paying more attention towards upgrading their skills.
17. Agile organizations grow their revenue 37% faster than non-agile ones
According to the HRCI survey, agile organizations grow their revenue 37% faster than non-agile ones. In addition, agile organizations report higher customer satisfaction and can also attract and retain talent more effectively. These numbers emphasize the importance of using PM tools and opting for an agile approach.
18. 90% of businesses using open-source PM software have better efficiency and scope for innovation
According to a Foreign Policy report, 96 percent of companies that rely on software for project management are satisfied with their choice. Open-source tools give companies more efficiency and better scope for innovation. In addition, these companies are also able to save on license costs.
19. 70% of companies had to face at least one project failure in 12 months:
According to Hive reports, 70% of companies face at least one project failure in 12 months. The critical reasons for the failures were poor planning, unrealistic deadlines, and insufficient budget. Moreover, the study suggested that the probability of project failure is higher in companies with a lack of skilled project managers.
20. Agile projects are 28% more successful than those that are not
According to research presented by PWC, agile projects are 28% more successful than those that are not. The success rates of agile projects were 77%, while the success rates of traditional waterfall projects were only 49%.
In addition, agile projects are completed faster, with an average delivery time of over 12 weeks than the conventional waterfall project delivery time of 20 weeks.