How Project Management Can Provide a Competitive Advantage - PM 360 Consulting
post-template-default,single,single-post,postid-17292,single-format-standard,wp-custom-logo,theme-bridge,woocommerce-no-js,ajax_fade,page_not_loaded,,qode-content-sidebar-responsive,columns-4,qode-theme-ver-11.0,qode-theme-bridge,wpb-js-composer js-comp-ver-5.1.1,vc_responsive

How Project Management Can Provide a Competitive Advantage

How Project Management Can Provide a Competitive Advantage

Investopedia shares, “Competitive advantages are conditions that allow a company or country to produce a good or service of equal value at a lower price or in a more desirable fashion. These conditions allow the productive entity to generate more sales or superior margins compared to its market rivals. Competitive advantages are attributed to a variety of factors including cost structure, branding, the quality of product offerings, the distribution network, intellectual property and customer service.”

So how does Project Management factor into all of this? Well, think of your own organization. How many projects are being run, both formal and informal? Tens, hundreds, or even thousands of projects per year depending on the size of your organization.

How successful are those projects being run? We learn from the Pulse of the Profession reports produced by PMI each year that only about 50% of projects are On Time or Within Budget or Within Scope each year. We also learn that about 10% of project dollars are wasted on poor project performance. I’ll argue that figure is low because of all the informal projects being run by Accidental Project Managers which aren’t accounted for in the data.

If your organization has average project performance you have a 50-50 shot at project success. What if you were able to improve that to 75-25 or 90-10? We already know your competitors are also averaging 50-50 project success. If you can increase your project success rate to 75% or 90% you are building a competitive advantage. You can produce products or services more efficiently, quicker, cheaper and more of them.

We spend too much time in our industry exploring the downside of Project Management rather than focusing on how to use Project Management to gain competitive advantage. We need to understand how to Empower our People to Deliver Results rather than focusing on project governance, checklists, and process audits.

I don’t recall the last time I heard an executive upset with a Salesperson for failing to follow process when landing the million dollar deal, do you??  Project Management leaders need to understand the Purpose of Project Management within our organizations. Start with the WHY. Once you’ve identified your Purpose then you can build the HOW and WHAT to be able to achieve your Purpose.

The data tells us there is only ~ 50% success rate on projects. If your organization can improve project success to 75% or 90% you’ll begin to experience significant advantage over your competitors.


Article written by Joe Pusz – PMO Joe – Top 15 Global PMO Influencer

22 May 2019 

  • lowest airfares possible
    Posted at 16:10h, 06 April Reply

    Nice blog here! Also your website loads up fast!
    What web host are you using? Can I get your affiliate link to your host?
    I wish my site loaded up as quickly as yours lol

  • gamefly
    Posted at 06:26h, 07 April Reply

    I constantly spent my half an hour to read this weblog’s articles or reviews all the time along with a cup of coffee.

  • gamefly
    Posted at 14:26h, 10 April Reply

    I was recommended this website by my cousin. I’m
    not sure whether this post is written by him as no one else know such
    detailed about my problem. You’re amazing! Thanks!

  • Ceri 138
    Posted at 07:15h, 13 April Reply

    This is my first time visit at here and
    i am truly happy to read all at one place.

  • accordion doors
    Posted at 22:12h, 14 April Reply

    I think the admin of this website is actually working hard in favor of his web
    page, because here every stuff is quality
    based information.

  • สล็อตเว็บตรง
    Posted at 18:46h, 17 April Reply

    Hey There. I discovered your blog the use of msn. This is a very neatly written article.
    I’ll be sure to bookmark it and come back to read more of your useful
    information. Thank you for the post. I’ll definitely return.

  • Drug Test
    Posted at 14:49h, 02 May Reply

    4116 urine drug test mid stream QuyenMeist

  • online bathroom design tool nzymes
    Posted at 10:39h, 09 May Reply

    Thanks for sharing your thoughts on online bathroom design tool nzymes remodeling
    stores near me. Regards

    Posted at 07:58h, 10 May Reply

    Great web site. A lot of helpful information here.
    I’m sending it to some friends ans additionally sharing in delicious.
    And naturally, thank you on your sweat!

    Posted at 14:56h, 11 May Reply

    It’s fantastic that you are getting thoughts from this
    post as well as from our argument made here.

  • modern bathroom wall decor ideas
    Posted at 09:49h, 12 May Reply

    I’m also commenting to let you know of the incredible experience our princess went
    through using your webblog. She discovered too many things,
    not to mention what it’s like to have an incredible giving spirit to
    make the rest very easily gain knowledge of some multifaceted subject areas.
    You undoubtedly exceeded people’s desires. Many thanks for rendering such invaluable, trustworthy, educational and even easy thoughts on the topic to Sandra.

    Here is my homepage modern bathroom wall decor ideas

    Posted at 09:47h, 16 May Reply

    What’s up i am kavin, its my first occasion to commenting anywhere, when i read this post i thought i could also make comment due to this sensible paragraph.

  • Kratom
    Posted at 22:08h, 16 May Reply

    kratom how much to take? Kures Kratom

1 14 15 16

Post A Comment