The Chaos Theory research shows that managers waste an average of two hours and 45 minutes a week due to inefficient practices, equating to 20 working days a year in lost productivity.
Putting stretched budgets and timelines under the microscope, the findings reveal that one in five of all projects run late and 14 per cent run over budget. Managers admit that if they are working on eight or more projects, things spiral out of control, with one in three projects delayed and a quarter exceeding the agreed budget.
“In a bid to maximise productivity, organisations are placing huge pressure specifically on project managers to deliver on complex business initiatives with smaller budgets and tighter timelines,” said Yohan Abrahams, president of the UK Chapter of the PMI. ”Inefficient business practices can result in poor productivity levels, as highlighted by the Chaos Theory study. This ultimately has a knock-on effect on the bottom line, as projects overrun.
“In order to address the new challenges posed by a complex environment, organisations need to equip all managers with new technologies that address their pain points and foster a collaborative working culture.”
Recognising the need for more effective ways of working in the always-connected, mobile workplace, half of project managers have adopted new tools. They feel that tapping into better tools could result in more time saved (82 per cent), better control of costs (69 per cent), lower stress levels (81 per cent), and a stronger sense of team (71 per cent).
Yet only half say their organisation’s IT department supports the use of new technologies.
The research also highlights that dispersed teams working across different geographies and time zones struggle to work together effectively, with 37 per cent of respondents citing a lack of communication as a major headache.
So it’s no surprise that managers are feeling over-worked and under pressure. Almost two-thirds work on their days off or during weekends to keep on top of their to-do list. One in three admit to not being able to complete their work during working hours, and 67 per cent respond to emails outside of working hours.
Andersson concludes: “The collaboration and project management chaos is harmful for businesses because it can damage their reputation and bottom line. Just imagine if sensitive customer data gets into the wrong hands due to ineffective working practices. Businesses have everything to gain by addressing the chaos, and technology plays a central role in this. By exploring new methods and tools, they can propel smarter, goal-driven collaboration.”
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