Project management is more than just a beneficial skill; it’s a core competency that benefits…
MATURE Project Management: What is it and Why Does it Matter?
Everyone can benefit from learning and applying project management skills, tools and techniques when managing large and small projects. Today, however, as the marketplace continues to evolve, our approach to project management has evolved and matured as well. Project management is more than an individual skill set or a set of principles and practices; it is a business capability, an organizational competency and collective mindset. The overall maturity level of an organization’s management practices will determine to what extent it will value, embrace and implement mature project management systems and practices.
Mature project management can be defined as a high degree of structured project management processes, tools, systems and methodologies that have been embedded within the structure, culture and operations of an organization. More mature organizations have fewer ad hoc processes. Mature companies also utilize refined technological and metrics measurement tools so that they can deliver projects efficiently, on time and on budget, consistently, across the organization.
The table below provides an additional framework for understanding the difference between mature and immature project management practices at an organizational level.
Immature Project Management vs. Mature Project Management
Below are characteristics of an immature project management environment followed by a mature project management environment. (Click here for a side by side comparison)
Why does Mature Project Management Matter?
According to PMI’s 2012 Pulse of the Profession survey, “73% of projects at organizations with high project management maturity meet their original business goals and intent.” In other words, companies that invest in improving and developing their project management capabilities as a strategic imperative, are more likely to experience the following benefits:
- Improved business outcomes
- Predictable results
- Minimization of risks
- Ability to remain competitive in the ever-changing business marketplace
Simply put, for businesses that ‘sell’ their unique capability to deliver projects, mature project management brings high value.
If you want to self-assess your organization’s MATURE Project Management readiness, consider using the CMM (Capability Maturity Model) used by the US Department of Defense. Although the model was originally developed to improve existing software-development processes, it can be easily adapted for use with other processes.
If you want to mature your organization’s project management practices, you can seek out an experienced project management firm like ours to help.
What is your organization’s MATURE Project Management readiness?
Chrystal Richardson is Managing Partner of CE Wilson Consulting, a project management and business efficiency consulting firm that has managed projects for technology, mining, medical, utility and manufacturing clients since 2001.