Research Report: Secrets of High Performing Projects

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Secrets of High Performing Projects 3 Executive Summary We recently conducted a survey through ProjectManagement.com about the future of projects. By tapping into the experience of hundreds of professionals around the world, we sought to identify high-performing organizational behaviors that can help improve project outcomes for all projects. In particular, we asked about topics like trust, performance, and technology surrounding large-scale engineering, construction or major equipment manufacturing projects. Throughout this report we will make reference to projects generally, at those times you can assume that we are referencing these large-scale initiatives as they are the focus of this study. Clearly our survey was of interest to our target audience with well over 800 responses received in not much more than a week. Organizations are operating in unprecedented times and they are looking for guidance on how to ensure their key strategic investments are capable of delivering the results they need. In that regard, the results were enlightening. In this report we'll analyze the responses to each of the questions we asked, identify some trends that emerged when comparing responses across multiple questions and develop recommendations that we believe will help all organizations, in all industries, to improve their return on large scale engineering, construction or major equipment manufacturing project investments. We also believe that these lessons will extend to all projects, no matter how large or small, or what areas of the business they impact. Throughout the analysis of individual questions and for our recommendations there are references to high and low performing organizations. This is primarily based on the reported ability of organizations to achieve their expected business outcomes for their projects. This will be explained in more detail throughout the report but the definition for these categories is as follows: n High performance organizations reported achieving expected business outcomes for more than 80% of their projects. n Low performance organizations reported achieving their expected business outcomes for 30% or less of projects. We saw how the behaviors of these high performers varied from the low performers and from the survey responses as a whole and we were able to make connections between those behaviors and the outcomes that are achieved. Most importantly, we were able to make a number of recommendations to help readers identify improvements in their own organizations. Those recommendations immediately follow this executive summary section. Throughout the report there are tables and graphics that summarize the various findings and a number of call outs highlighting some of the more surprising and interesting results.

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