Havertown, Pa --Organizations find significant value in implementing project management training initiatives, according to a study conducted by the Center for Business Practices(R).
The study, "The Value of Project Management Training: A Benchmark of Current Business Practices," polled senior practitioners with knowledge of their organizations' project management practices and business results. The study was designed to help project management training decision makers--including project office leaders, project directors, human resource mangers, and corporate university heads--better understand current practices and trends affecting their project management training investments.
According to the study's findings, senior project management practitioners consistently report moderate to extreme improvement in a variety of business measures including customer satisfaction, productivity and cost-schedule-requirements performance as a result of project management training initiatives. More than 90 percent of organizations surveyed showed moderate to extreme improvement in the training participant's on-the-job performance. In 62 percent to 91 percent of organizations, project management training resulted in moderate to extreme improvement in the participant's knowledge or skills, as well as in schedule performance, requirements performance, quality, productivity, cycle time, employee satisfaction and customer satisfaction.
"It's clear from this survey that more and more companies value project management training as a key element of project implementation and, as a result, business success," says Jim Pennypacker, Director of the Center for Business Practices(R).
"Many organizations are currently planning their training initiatives for the year, and these findings will help them better determine how to best improve their project management performance," according to Pennypacker.
The study also reveals that most organizations (57 percent) outsource their project management training initiatives to private training or consulting companies. The on-site classroom is still the most used training delivery method (40 percent) followed by off-site classroom instruction (22 percent) and e-learning (27 percent).
Other key findings include:
Training practices offered by organizations
- --Project management basics – 74%
- --Advanced project management skill development – 55%
- --Project management software tool training – 55%
The criteria for selecting a private training or consulting company, in-house trainer, or independent training instructor, ranked in order of importance, are: 1) quality, 2) cost, 3) organizational requirements, 4) convenience, 5) customer service, and 6) reputation.
The training practices percentages offered by organizations are expected to change in 2004 as most organizations expect their project management training expenses to remain the same or to increase this year.