A new study suggests Australian business managers lack confidence when it comes to project delivery, with only 13 per cent saying they are confident about managing critical projects in “the most efficient way”.
The study, conducted by the International Project Management Association (IPMA) and the IFS, found a lack of confidence comes from insufficient IT systems coupled with a lack of information.
Managing director of the Australian and New Zealand branch of the IFS, Rob Stummer, said leaders see the need for projects, but a lack of information results in negative outcomes.
“Business leaders understand how critical these projects are, but very few have access to the information they need to ensure they are implemented quickly and to budget,” he said.
The study is based on interviews with CEOs, COOs and project managers throughout Australia, with 54 companies from the energy, telecom, oil and gas, construction and manufacturing sector taking part.
Other findings indicated that 67 per cent identify their ability to manage critical projects, but only 28 per cent have fully integrated IT systems for project management.
Professor Brane Semolic, chairman of IPMA’s research management board said the results indicate project managers are under more pressure than ever.
“Many of the companies in Australia said they were under increasing pressure to re-negotiate costs and prices in existing contracts and as a result, margins are lower than ever before,” he said.
“Now is the time for companies to re-think how they approach project management and invest in one integrated system, that gives them full visibility and control, from start to finish.”
For more information on project management, please see How to Create a Clear Project Plan and Why Projects Fail.