Research suggests that in the United States, 40 percent of information technology investments fail to deliver their intended results.1 Recent estimates indicate that $2.3 trillion is spent on projects in the United States, yet the Meta Group suggests that:
• 84 percent of companies either do not conduct business cases for any of their IT projects or perform them only on select, key projects.
• 89 percent of companies are flying blind, with virtually no metrics in place except for finance.
• 84 percent of companies are unable to adjust and realign their budgets with business needs more than once or twice a year.
The result? Close to $1 trillion in underperforming investments. Not only is the spending huge, but it is typically poorly managed in a fragmented manner, using project-focused rather than portfolio-focused methods. The majority of companies simply do not employ a portfolio management strategy.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.