Research Report: Secrets of High Performing Projects

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Page 8 of 51

Secrets of High Performing Projects 9 Data, and more importantly trust in that data, is the biggest single factor driving success Our final question had perhaps the most telling result. Among organizations that reported having total trust in their data, not a single one said that their project delivery was 'very ineffective'. 58.8% of that group said their project delivery was 'very effective'. While this question was asking for opinions, this group knew that they were right because they had data that they could believe in. " Implement processes, tools and approaches that allow all stakeholders to develop total trust in the data they consume. There's a direct connection between trust and performance. " Even without the impact of the COVID-19 pandemic, the highly competitive world we live in today requires every organization to respond quickly and decisively to emerging trends and shifting demands. That can only happen when decision makers have timely, complete and accurate data and when they have enough belief in that data to use it to make decisions quickly. All of your systems, integrations, processes, skills development and every other aspect of management must be geared up to do that – and then to implement those decisions effectively and efficiently. In our survey 35.1% of our respondents were considered high performers based on our definition of achieving business outcomes for more than 80% of their projects. 49.8% of respondents who had total trust in their data met the threshold for inclusion in that high performance group. 79.4% of those with total trust achieved business outcomes for at least 60% of their projects. The survey average was 50.7%. That alone should be enough to drive organizations to strive for data excellence. But more than the headline decisions made by executives and business leaders, having reliable data makes a difference at all levels of organizations and enables the performance improvements we have considered throughout this report. 26.3% of respondents reported not having any PMOs. Among those with total faith in their data that dropped to 14.4%. We have to speculate as to why but it's likely a combination of knowing that the PMO is delivering value, knowing what the PMO needs to focus on, and understanding how project delivery can improve. Only 11.8% of respondents said that adjusting to the impact of COVID-19 was 'very easy', among those with total trust in their data this number more than doubled to 24.7%. That saved real money, reduced stress and minimized disruption. Total trust in data also drove significantly fewer concerns about internal factors impacting the ability to recover from the pandemic (46.4% compared with 55.8%). Organizations with total trust in their data were more than twice as likely to have found it 'very easy' to adjust to the impact of COVID-19.

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