1 The New Skills Talent Triangle: What You Need to Build Your Project Management Career Path FOSE...

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The New Skills Talent Triangle: What You Need to Build Your Project Management Career Path

FOSE Conference 2014

Christopher Landes PMI Manager, Thought Leadership & Communications www.pmi.org

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Talent Roadmap

• Navigating the Current Environment

• Organizations Need Skilled Talent

• Credentials Matter!

• Future Skills for Success

Leadership is about encouraging andempowering people to collaborate, fail, adjust

and complete projects.

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2014 Macro Business Challenges

If you don't have the people to deliver to your standards of excellence, you lower the value of your entire portfolio.

− Christian Risom, CEO of Shape A/S, Copenhagen, Denmark

Human capital is the #1 challenge globally

Game-changing organizations have effective talent management strategy

Building skills for future success

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Slow Economic Growth

Sources: EIU – January 2013; IMF – April 2013

Projected

IMF

Fore

cast

-8%-4%0%4%8%

12%16%

Regional GDP Growth Forecasts Through 2018

-8%-4%0%4%8%

12%16%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

EIU

For

ecas

t

-12%-8%-4%0%4%8%

12%16%

-12%-8%-4%0%4%8%

12%16%

USAEuro AreaChinaDev. AsiaLat. Am.

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In the past few months, has your company canceled or delayed scheduled projects due to the economic conditions? (%=yes) Q.

Source: PMI Economic Snapshot Survey, 1Q2014

Project Cancelations and Delays

There has been a 2 percent decrease year-over-year; A 3 percent decrease from previous quarter

6Source: The Economist, Investing in Infrastructure, 3/22/2014.

Global Projects Exceed Skills To Manage Them

Projects needed to build or repair infrastructure are in the $trillions

7Source: PMI Pulse of the Profession In-depth Study: Talent Management, 2013.

Tangible benefits = greater project success rates …

Talent Alignment to Organizational Strategy

. . . fewer dollars at risk.

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Talent Alignment with Strategy

Source: PMI’s Pulse of the Profession In Depth Study: Talent Management, 2013

45% solidly aligning talent programs with strategies

However, 55% of organizations need to improve alignment of their talent program.

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Human Capital – Still #1 challenge

Source: The Conference Board, 2014 CEO Challenges.

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Government Talent: Challenges at Two Levels

1. Government employees

2. Employees of government contractorsTalent that government can directly support and

shapeTalent whose development government can

influence

60

69

51

60

45

59

Support Career Paths = Performance Success

Meeting Goals/Intent

CareerPath

No CareerPath

Within Budget On Time

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% OF PROJECTS COMPLETED

Source: PMI Pulse of the Profession®

Clearly defined career path for PMs leads to higher program success

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Percentage of projects meeting

goals

Project dollars wasted

Have active sponsors on <50% of projects 46% $163 million

Low alignment of projects to organizational strategy 48% $157 million

Minimally effective at change management 52% $145 million

Immature benefits realization processes 55% $136 million

Minimally effective at innovation 56% $133 million

Low organizational agility 56% $133 million

Low portfolio management maturity 57% $130 million

Minimally effective at knowledge transfer 57% $130 million

Standardization practices not used 55% $136 million

Low project management maturity 56% $133 million

Low program management maturity 57% $130 million

No ongoing PM training 58% $127 million

No formal knowledge transfer process 59% $124 million

No PMO 60% $121 million

No formal process to mature PM practices 60% $121 million

No formal process to develop PM competency 60% $121 million

No defined career path for PMs 60% $121 million

Study average 64% $109 million

Project size $1 billion

The Risks of Poor Project Performance

Estimated dollars wasted (in USD) for every $1 billion spent on projects

Str

ate

gic

p

racti

ces

Tacti

cal p

racti

ces

Source: PMI’s 2014 Pulse of the Profession®

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Certifications Matter!

Met goals/intent Within budget On time Projects deemed failures

0%

20%

40%

60%

80%

100%

69%59% 57%

14%

65%55% 52%

15%

60%52%

47%

17%

Over 35% 10%-35% Less than 10%

More PMP® certifications = better project performance

Q: In your estimation, what percentage of the projects completed within your organization in the past 12 months…Q. What percentage of project managers within your organization have the PMP® credential?

Arrows indicate a significant difference between groups at a 95% confidence level

Source: 2014 PMI Pulse of the Profession®

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Certification Matters to You!

Among countries surveyed, there is an average 15 percent salary difference for PMP certification holders

Country PMP Non-PMP Difference ($)

Difference(%)

United States

$110,000 $91,500 $18,500 20%

Average $73,133 $63,373 $9,760 15%

Source: PMI 2013 Salary Survey, 12/2013.

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The Talent Triangle

66% of organizations say that technical project management skills are the most difficult to find

But over 90% of organizations say that technical project management skills and strategic and business management skills are teachable

And 66% of organizations say that leadership skills are most important for success in project management

© 2010

PMI’s Pulse of the Profession® In-Depth Report: The Competitive Advantage of Effective Talent Management

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How are

organizations achievi

ng significant or good

alignment of talent

management

to organizational strateg

y?


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Talent Management Offerings

Train in soft skills

Make training a priority

Evolve their talent program


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Career Paths for Project Managers

New hire to advanced project manager

Advanced project manager to senior project manager

Senior project manager to senior management


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Integrate Talent Management Across Organization

Integrate talent management across the organization

Performance management programs are aligned with organizational strategy

Learning and training programs are aligned with organizational strategy


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Measure Talent Management Outcomes

Revenue and profit growth

Staff turnover and attrition

Employee satisfaction/engagement

Employee retention


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Critical Behaviors for Future Success

Source: IBM Global CEO Survey, 2013

Leadership seeks talent that is comfortable with change, learns on the go, often from others’ experiences.

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Critical Skills & Behaviors

I. Strategic VisionI. Establish VisionII. Align Team to VisionIII. Design Adaptable Structures

II. Superior CommunicationsI. Seek Diverse PerspectivesII. Tailor CommunicationIII. Communicate Multi-

DimensionallyIV. Promote ProjectV. Influence Stakeholders

III. Exceptional LeadershipI. Manage EmotionsII. Act CourageouslyIII. Maintain PresenceIV. Inspire the TeamV. Build Culture

IV. Conflict ResolutionI. Analyze SituationsII. Think InnovativelyIII. Negotiate Successfully

V. Integrated ThinkingI. Identify Root CauseII. Keep Broad PerspectiveIII. Maintain PulseIV. Understand Ripple EffectsV. Connect Stakeholders

VI. Personal DifferentiatorsI. Be CuriousII. Exemplify IntegrityIII. Maintain FocusIV. Improve SelfV. Build Diverse Network

Source: PMI Global Executive Council Research Findings, 2011.

23Source: PMI 2014 Pulse of the Profession®

Organizations that have …

Global Total

Government Organizations

A formal process for developing project manager competency

47% 38%

A defined career path for those engaged in project or program management

47% 32%

A formal process to mature existing project/portfolio management practices

47% 34%

Ongoing training for staff on use of project management tools and techniques

62% 55%

A formal process for transferring knowledge from one part of the organization to another

48% 34%

PM Engagement Across Governments Globally

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The Way Forward

• Game-changing organizations are . . .− Purpose driven, performance-oriented, principles led− Have superior talent strategies

• Articulate vital importance of talent management− Demand that everyone is accountable for spotting

developing and retaining the next generation of leaders− Collaboration, trust and respect are the foundation of

game-changing talent strategies − Enable people closest to the market to solve problems

Source: Dr. Robert J. Thomas, Building a Game-changing Talent Strategy, 2014

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The Way Forward

New role of government in a digitizing world is to act as a “broker,” orchestrating the supply of services linked by information systems meeting different citizens needs.

Source: The Digital Government, Booz & Co., Spring 2013.

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• Concentrate investments on specific

capabilities to fulfill missions

• Enable strategic private sector

partnerships

• Expand cloud-based applications − Use open source, collaborative

software, (Veterans Health Information Systems and Technology Architecture, EHR)

Digital Model = Greater Flexibility, Collaboration and Quality

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• Embrace Flexible Workplace (Office of Personnel Management Systems)

− Knowledge transfer, training for new hires

• Continue to develop consumer-oriented services

• Hone best practices• Agencies provide citizens,

businesses, access to personalized content based on specific circumstances

Digital Model = Greater Flexibility, Collaboration and Quality

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Thank you!www.pmi.org/pulse

1 The New Skills Talent Triangle: What You Need to Build Your Project Management Career Path FOSE...

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