The project management statistics and predictions for 2023

Being a project manager often implies juggling various responsibilities for various projects. For that to be done right, one simply must have accurate numerical information related to multiple aspects of project management—no doubt about it. 

So, how do you put your data in order?

A good starting point is to have all (especially the most recent) project management statistics to refer to. This will make your job easier, helping you make well-informed decisions about fundamentally ordered and correct information. And why are statistics essential?

They provide the means to measure and control production processes in order to minimize variation that leads to error or waste, ensuring consistency throughout the entire process.

What should you know at any given moment regarding statistics within project management?

• All current conditions and an overall state of project management across worldwide
• Why do projects fail, and why do they succeed? Get to know all the factors surrounding this question.
• What are the most popular project management tools?
• What are widely used project management methodologies at the moment? 

The main goal of having project management statistics data is to see what is happening in the world. In addition, this info will help you understand why there is a rapidly changing demand for better technology, talent, and opportunities in the PM world.

One thing singles out, though. 

A tool.

Recently, project management tools have become increasingly attractive for companies organized through distributed, remote, or hybrid teams. According to Mordor Intelligence, project management software will reach a value of almost $10 billion by 2026! That is because companies with a proper tool can oversee the outcome, which can be a lifesaver for a project’s success. 

Ok, what next? Let’s list all the essential statistics and trends for 2023. Mind you, you should have done some of these in the previous year, but there is always time to get it right. 

Key Project Management Statistics 

1. Only 1 in 4 organizations use PM software. So far. 
2. Remember that as much as 89% of organizations have at least one PM Office. This shows that project management is acknowledged now and has become a common element in most organizations.
3. Only about 35% of project managers are satisfied with their company’s current technology and PM maturity.
4. Due to poorly-organized project management, almost 12% of resources are regularly wasted!
5. 54% of project managers need real-time data and KPIs. Many of them spend a day or more to manually collecting project reports! Without the right technology to collaborate on information, so much time, the most precious resource, is simply wasted.
6. Only a maximum of 43% of all projects worldwide are completed on a budget.
7. And just 29% of all projects are completed on time.
8. This one is even worse than the last two—just 2.5% of companies successfully complete 100% of their projects.
9. The majority of project managers control multiple projects at the same time.
10. Many organizations still consider investing in software is expensive. Not knowing how much money and time they can save—such a shame.

Project Management Trends for 2023

Like statistics, project managers should consider trends as guidelines for their project planning and execution. Here are some fundamental trends for the coming year.

1. The project management software is expected to grow at a CAGR of 10.67%. As we said before, project management software will be worth $10 billion by 2026! The math is evident here. By using software, they all manage and improve the processes of their projects, generally achieving better results. 
2. There will be a demand for around 25 million new project management professionals in the talent landscape by 2030.
3. Large enterprises are still the biggest and most important market for project management tools. All the others look up to the big ones, so – the logic is clear. 
4. Reliability, ease of usage, and integration are the essential features of a PM tool. Tools that fulfill these conditions will thrive in 2023.
5. Hybrid project delivery will still be the most common approach in the PM globally. According to the Rebel’sRebel’s Guide to Project Management, as much as 60% of all project managers use hybrid methods to deliver their projects. 
6. High-performing teams as per rules – regularly use project management tools as it helps them by streamlining their workflow and organizing all the work in a centralized location.
7. The number of organizations that are providing project management training is rapidly rising.
8. Just like the salaries for Project Managers. Ask yourselves why.

The Bottom Line

All organizations worldwide highly demand project management strategies, tools, and professionals. This is easy to understand. No matter the industry or size, all these companies have in common an imperative of being capable of driving a more efficient set of business processes. Statistics reveal essential information and data about recent and current developments in a fast-growing industry; therefore, they will become a crucial part of PM. 

During this tricky and rather demanding last year, we all have witnessed how the workplace continues to change while the project stakeholder expectations evolve. Organizations will have to invest more time and money into perfecting project management, making it more accurate, precise, and efficient. Project Management skills will be the most sought-after proficiencies among new hires, making the ability to conduct market landscape research and deliver organizational design and workforce planning the most wanted one. 

Of course, project management will still be a significant focus point for all business leaders. The question is how can companies stay ahead of the competition with their project management investments and organization. Project managers and organizations will just have to adapt, research and use accurate statistic while, at the same time – implementing strategies and making important decisions regarding the projects.