Project Management Statistics: 45 Stats You Can’t Ignore

From startups to Fortune 500 companies, it’s important to analyze project management statistics to ensure that every project runs smoothly and is as efficient as possible by learning what works and what doesn’t. Organizations across the globe need to master project management principles to meet objectives, reduce costs, increase efficiencies, mitigate risks, and improve stakeholder satisfaction.

It’s also crucial for businesses and professionals to keep up with the latest project management trends to stay ahead of the curve. However, gathering and analyzing this information from various sources can be challenging. That’s why we’ve put together all the key project management statistics for 2024. Keep reading to discover project success rates, industry trends, employment stats, and much more.

Project Management Statistics Highlights

• Around 35% of projects succeed, meaning they are completed on time, within budget, and according to predetermined standards.
• Approximately 65% of all projects fail, meaning they aren’t completed on time, go over budget, or fail to meet certain standards and expectations.
• Bad project management costs companies 10% on every dollar spent. Scaled to include total global capital investment, this comes up to around $2 trillion every year.
• 59% of project teams work remotely, managing projects across multiple locations across the world.
• There are currently over 90 million project professionals employed globally, with the demand for project management talent set to push this number to 102 million by 2030.

The State of Project Management Statistics

According to the Project Management Institute (PMI), organizations that prioritize project management enjoy higher project success rates. Organizations that develop their project talent, project capabilities, and culture have a project success rate of up to 92% compared to 32% for those that don’t.

According to Project Manager, 58% of project professionals work remotely. In addition:

• Only 14% of project teams work together in a central office.
• 48% work in multiple locations in one country.
• 38% now work in multiple locations across the world.

As per an RGPM report, 60% of project managers are running between 2 and 5 projects. 11% run 6 to 10 projects, and 15% run more than 10 projects.

40% of project teams are made up of between 6 and 10 people while over 30% have either between 1 and 5 people or more than 10 people.

As remote project teams become more common, 40% of project professionals say that over three-quarters of their projects now require collaboration outside of their immediate teams.

In an increasingly hybrid environment, poor cross-team collaboration was identified as the leading challenge to successful project management. Other challenges include:

• Outdated processes – 15%
• Difficulty working in a remote environment – 13%
• Ineffective scheduling – 12%
• Difficulty incorporating agile processes and plans – 11%

Project Management Employment Statistics

According to research in 2021 by the Project Management Institute, there were over 90 million project management professionals employed globally. Project management-oriented employment (PMOE) accounts for 3% of all global employment and is expected to grow to 3.2% or 102 million jobs over the next 7 years.

In the US alone, the demand for project management specialists is projected to grow by 6% from 2022 to 2032, faster than the average growth of 3% for all occupations.

Male project managers outnumber female project managers by a ratio of 3:1. While the global labor force participation rate for women stands at 47% and 72% for men, the gender gap in employment is even higher in the project management industry.

The sectors projected to have the highest growth rate in project management job opportunities in the next decade include:

• Manufacturing and construction – 13.2%
• Information and publishing – 15.2%
• Finance and insurance – 14.9%
• Management and professional services – 11.3%
• Utilities – 12.7%

Project Management Certification Statistics

51% of organizations require project professionals to hold some type of certification for their role. PMP and PrinceE2 remain the most widely recognized certifications among project management professionals, each boasting over one million certificate holders globally.

80% of organizations placed value on employees having interpersonal or soft skills in addition to technical skills in a 2023 PMI study. This mirrors other findings by the Project Management Institute and PwC, which identified the following as the top skills needed by a successful project management professional:

• Relationship building
• Collaborative leadership
• Strategic thinking
• Creative problem-solving

61% of respondents in a 2020 PMI survey reported that their organizations provide project management training and that 47% have a defined career path for project professionals.

Project Management Salary Statistics

As of 2022, the BLS reported that the median pay for a project management professional in the US was around $95,370 per year.

A jobs report by the Project Management Institute found that countries with the highest median salaries in USD for project management professionals include:

• Switzerland – $140,983
• US – $115,000
• Australia – $113,664
• Germany – $106,498
• Netherlands -$101,711

The same report found that project managers holding a PMP certification can earn a median salary up to 16% higher than those who are not certified.

Project Management Success Statistics

Research suggests that around 35% of all projects are completed and considered successful. Projects are considered successful when they are delivered on time, within budget, and meet predetermined standards.

A 2021 Wellingtone project management survey in the UK found that:

• 34% of organizations mostly or always complete projects on time.
• 34% of organizations mostly or always complete projects on budget.
• 36% of organizations mostly or always deliver the full benefits of their projects.

A 2023 report by the Project Management Institute revealed that the top 6 key drivers of project success are:

• High benefits realization maturity (BRM)
• Low levels of scope creep
• Frequent use of standardized project management practices
• Frequent use of standardized stakeholder engagement practices
• High organizational agility
• A high-performing project management office (PMO)

92% of respondents surveyed agree that “power skills” (interpersonal skills or soft skills such as communication, problem-solving, and collaborative leadership) result in more effective project management and improve project success rates. The same report revealed a strong link between power skills and project success rates.

Organizations that leverage power skills see higher rates of:

• Project management maturity: The extent to which an organization consistently relies on formal project management methodologies, aligns projects or programs with organizational strategy, tracks benefits, and focuses on continuous improvement.
• Benefits realization management maturity: A set of project management processes and practices for identifying benefits and aligning them with formal strategy, ensuring benefits are realized and sustained during and beyond project completion.
• Organizational agility: The ability to rapidly adapt to changes in the market or other external factors. Includes making use of traditional, agile, and hybrid approaches to project delivery.

Project management offices (PMOs) that consistently manage projects successfully are more likely to embrace new methodologies than low performers.

Project Management Failure Statistics

65% of projects fail, additionally:

• 43% are not completed within budget.
• 48% are not completed on time.
• 31% do not meet their goals.

Organizations waste 10% of every dollar due to poor project performance. Scaled to include total global capital investment, this comes up to around $2 trillion every year. Additionally:

• Around 11.4% of investment is wasted due to poor project management.
• Organizations with ineffective project management capabilities wasted 21x more money than those with the highest performing project management capabilities.
• Organizations that undervalue project management as a strategic competency reported 67% more of their projects failing.

Project Management Statistics by Industry

Project Management in IT

With over $600 billion being spent on IT annually, effective IT project management is crucial. According to McKinsey, 17% of IT projects can go so bad that they threaten the very existence of a company.

75% of organizations in IT met their project goals in 2021, the highest of any industry. What’s more:

• 59% of projects were completed on time.
• 64% of projects were completed within budget.
• Overall, the project failure rate in the industry stood at 11%.

Project management software adoption rates in IT stood at 51% in 2022, the lowest across all industries in a Gartner report.

Project Management in Manufacturing and Construction

The global manufacturing and construction sector has one of the biggest gaps between current and projected jobs in project management-oriented employment (PMOE). The growth rate of 13.2% in PMOE is expected to exceed overall employment in the sector.

70% of organizations in manufacturing met their project goals in 2021. In more detail:

• 53% of projects were completed on time.
• 60% of projects were completed within budget.
• Overall, the project failure rate in the industry stood at 13%.

Meanwhile, 74% of organizations in construction met their project goals in 2021. In addition:

• 57% of projects were completed on time.
• 60% of projects were completed within budget.
• Overall, the project failure rate in the industry stood at 12%.

Project Management in Finance

71% of organizations in financial services met their project goals in 2021. Further:

• 53% of projects were completed on time.
• 59% of projects were completed within budget.
• Overall, the project failure rate in the industry stood at 12%.

Finance and insurance organizations have the largest annual PMO budgets, but the smallest budget for projects supported by a PMO ($900,000 vs. $2.5 million), giving them a PMO operating cost over 10 times higher than the average.

However, PMOs in the finance and insurance industry perform better than those in other industries. Additionally, their organizations’ financial performance is generally higher than all other industries.

Project management software adoption rates in financial and other business services were 61% in 2022, the second-highest adoption rate in a Gartner report.

Project Management in Healthcare

73% of organizations in healthcare met their project goals in 2021. Furthermore:

• 55% of projects were completed on time.
• 61% of projects were completed within budget.
• Overall, the project failure rate stood at 10% – the lowest of any industry.

While healthcare organizations are relatively late adopters of PMOs, they are one of the top industries that use them. 24% of healthcare PMOs are high performers (tied with finance/insurance PMOs).

Project management software adoption rates in healthcare hit 58% in 2022, among the highest in a Gartner report.

Project Management Software Statistics

The ability to effectively manage projects, track progress, meet deadlines, and stay within budget remains a top priority for businesses. It’s not surprising that over 85% of business leaders in a 2022 Gartner report use project management software.

The majority of survey respondents (53%) purchased project management software to boost productivity and business efficiency. Other key motivators were:

• Market competition – 41%
• Constant technology advancements – 40%
• Outdated existing technology – 35%

According to the same report, organizations in Portugal, France, Spain, Colombia, and Poland have the highest project management software adoption rates.

The top priorities of organizations investing in project management software include attracting new customers and strengthening relationships with existing customers. When considering PM software, buyers also consider factors such as:

• Price
• Ease of use
• Functionality

IT teams lead the project management software purchase process in 41% of small businesses and 44% of midsize businesses.

Notably, at least 85% of project managers look for the following features when selecting a project management software:

• User experience
• Data privacy
• Training capabilities
• Support capabilities

Integration issues with existing systems (36%) is the top reason for project management software replacement. This is closely followed by the availability of better alternatives (33%) and buggy products (31%).

Project Management Software Market Statistics

The project management software industry was estimated to be worth $4.62 billion in 2022.

According to Gartner, the market is projected to reach $7 billion by 2026, growing at a compound annual growth rate (CAGR) of over 12% during the forecast period.

In 2021, project management software companies collectively raised over $2 billion in equity funding. The market also saw notable exits such as Monday.com (went public at a $5.8 billion valuation) and Wrike (acquired for $2.3 billion).

According to CB insights, key players in the market with either public or private valuations of over $1 billion and revenues exceeding $100 million as of January 2023 include:

• Airtable
• Monday
• Smartsheet
• Asana
• Click-Up

Microsoft Project

As one of the most popular project management tools in the world, Microsoft Project boasts over 20 million users. Thousands of organizations across various industries rely on Microsoft Project to create tasks, assign resources, and report on project status.

With its comprehensive project management features and seamless integration with other Microsoft 365 tools such as Teams and Planner, it is ideal for teams and companies that need to manage multiple projects of varying sizes.

Airtable

Over 450,000 organizations across multiple industries and locations use Airtable to create and customize apps to help them plan, manage, and collaborate on projects. It allows a multitude of integrations, helps teams automate their workflows, and has a robust API.

Airtable supports agile methodologies, such as scrum or kanban along with waterfall and hybrid methodologies. While it is popular with companies in the computer software industry, it is a versatile and adaptable platform that can be used by companies in various industries for any type of project.

Smartsheet

Smartsheet is a spreadsheet project management tool used by nonprofit organizations, small businesses, and more than 80% of Fortune 500 companies around the world. It can be customized to plan and manage any type of project.

Smartsheet integrates with various tools and apps to streamline workflows and automate processes. It also supports a variety of project management methodologies, such as waterfall, agile, critical Path method, PRINCE2, and more.

Monday

Monday.com is a cloud-based project management platform that helps teams of all sizes plan, track, automate, report, and collaborate on projects. It is highly customizable, with over 180,000 customers worldwide using it to manage simple and complex projects.

Monday supports project management methodologies, such as agile, waterfall, scrum, and kanban, and allows users to manage their projects according to their preferred methodology. It also integrates seamlessly with other tools and apps, such as Jira and Slack to enhance the project management experience.

Monday is ideal for startups and offers free plans, trials, and advanced tiers which are available as companies scale up.

Asana

With over 1.3 million paid users across the world, including 80% of Fortune 100 companies, Asana helps project teams collaborate and manage projects of any size. Teams can create tasks, assign them, set deadlines, track progress, and communicate with each other.

Asana offers over 200 integrations, allowing teams to streamline workflows and automate processes. It also supports a variety of project management methodologies, such as agile, waterfall, PRINCE2, and more.

With a robust set of highly customizable project management features, it is ideal for midsize companies that need to collaborate with clients or across departments.

Project Management Trends

Project Management DEI Statistics

88% of project professionals said having diverse project teams increased value in a 2020 PMI report. Companies focusing on inclusion see better outcomes. Culturally diverse leadership is associated with higher organizational performance (85% vs. 61%).

In a PMI diversity project management report, 70% of project professionals said that their organizations had recruiting processes in place to develop diversity. Additionally, 40% said that attracting and hiring a younger generation of project professionals is an organizational priority.

With 67% of Gen Z employees not being satisfied with their employers’ DEI efforts, focusing on diversity is crucial for winning over younger workers. Among Gen Zers surveyed in a 2023 Deloitte report, 44% of Gen Zers said they rejected assignments due to ethical concerns, while 39% admitted to turning down employers that don’t align with their values.

Project Management ESG Statistics

2022 research by Green Project Management revealed that 38% of projects globally were being impacted by climate change. However, environmental, social, and governance (ESG) efforts are complex and challenging to implement. Indeed, 40% of organizations have reported major barriers to improving social impact. This is mainly due to a lack of financial resources and organizational commitment.

While 46% of project managers report seeing an increased focus on sustainable goals, only 33% of projects deliver improvements for the environment. This suggests that organizations still have a long way to go in terms of planning for sustainability.

5 key ESG trends that are likely to continue post-pandemic include:

• Enhanced health and well-being initiatives – 49% of remote workers report experiencing burnout warranting project managers to take action to support the wellbeing of their project teams.
• Remote teams and hybrid meetings – 48% of employees will likely work in hybrid settings post-pandemic versus 30% before the pandemic.
• Emphasis on impact – The command and conquer approach to project delivery is giving way to a values-and-benefits-focused approach.
• Purpose over profit – Project teams and organizations will put principles, values, and ethics at the forefront of decision-making to contribute to sustainable development.

Project Management Practices Statistics

A Wellingtone survey determined that 52% of respondents created a scoping document as part of planning, down from 61% in 2020. The same report found that:

• 48% of respondents baselined their project schedules to better track performance as opposed to 50% in 2020.
• 64% of project managers engaged in risk management in 2021, an increase of 4 percentage points from 2020.
• A significant 33% of project management professionals still don’t regularly engage in risk management.

The Gantt chart remains one of the most popular project management tools. Over 60% of respondents in a Project Manager survey said they relied on a Gantt chart for 50% to 100% of their projects. This suggests that tight scheduling with dependencies and milestones remains a key aspect of project planning.

While traditional Gantt charts top the list of preferred project management tools at 36%, more streamlined formats like task lists and kanban boards are now used by 21% and 16% of project managers, respectively.

47% of organizations do not have access to real-time project KPIs with 50% spending 1 or more days manually collating project reports. Furthermore, over 20% of project managers say that documentation is the one task they wish they could spend less time on. These tasks include:

• Weekly reports
• Progress updates
• Creating documents for customers
• Spending time on PowerPoint presentations

Project Management Methodology Statistics

Only 58% of respondents in the same Welligntone survey followed a defined project management methodology. That’s down from 61% in 2020, suggesting that a significant number of projects are still being run in an ad-hoc manner.

Given the diverse nature of project teams, traditional project management methodologies are no longer sufficient. Many teams now combine traditional and newer approaches to deliver successful projects.

60% of respondents in a Project Manager survey said they used a hybrid of waterfall, agile, and many other styles within a single project. Meanwhile, 17% reported that they didn’t use a formal methodology at all.

According to a PM Solutions report:

• 80% of organizations focus on using the PMBOK Guide.
• More than 65% of organizations use agile project management.
• Over 62% use waterfall methodologies.

Scrum and its variations were used by the majority of respondents (89%) in a 2022 State of Agile report, making it the most popular agile methodology. Other key agile methodologies used include:

• Kanban – 56%
• ScrumBan – 27%
• Iterative – 20%
• Scrum/XP Hybrid – 13%
• Lean Startup – 10%

Project Management Office Statistics

86% of IT organizations report having one or more project management offices or PMOs. This represents a 71% increase from 2016. Additionally, close to 60% of project managers anticipate that the PMO will see greater scope and responsibilities in the future.

According to Wellingtone, the top 6 activities of a typical PMO include:

• Project status reporting
• Maintaining the portfolio list
• Maintaining the PM methodology and templates
• Facilitating project approval processes
• Providing project management expertise
• Facilitating lessons learned

A PM Solutions report on the state of PMOs found that:

• Organizations that use PMOs usually have just one, but it’s possible for them to have multiple.
• The average PMO has an operational budget of $500,000 per year with the projects under its management having a combined total of $15 million per year.
• The average PMO has 9 staff members with an average of 10 years experience each. Just under half (49%) hold the PMP certification.
• 88% of PMOs offer project management skills training.

The Future of Project Management Statistics

Successful project management plays a crucial role in industry and economic growth. To illustrate, the total GDP of industries that leverage project management is estimated to reach $34.5 trillion in 2030.

For North America, this represents an increase in productivity of up to 94% between 2019 and 2030, and for Europe an impressive 123% due to project management.

The talent shortage is a considerable risk to organizations that rely on project management professionals to implement strategic initiatives on time, and within budget. This talent gap is likely to impact every region, resulting in a potential loss of up to $345.5 billion in global GDP by 2030.

PMI anticipates that 25 million project management professionals are needed to meet global project management talent demands by 2030. Around 13 million project managers are expected to have retired by 2030, creating additional recruitment challenges for organizations.

This means employers will need to fill around 2.3 million new project-oriented roles each year.

73% of project professionals believe that diversity will become a top priority for their organizations over the next decade.

By 2030, 80% of project management tasks will be powered by big data, machine learning, and natural language processing. Some of the key benefits of AI-powered project management technology include:

• Better selection and prioritization of projects.
• Improved support for project management offices.
• Enhanced project definition, planning, and reporting.
• Virtual project assistants and more efficient project teams.
• Advanced project management solutions.

Applying AI and other technological innovations to project management could improve the success rate of projects by around 25%. Although this seems like a modest improvement, it could equate to trillions of dollars of value to organizations and the economy as a whole.

FAQs

References

• BLS
• HBR
• McKinsey
• Gartner
• CB Insights
• Purdue
• Deloitte
• Green Project Management
• PM Solutions