Does Investment in Project Management Pay Off?

Abstract

Purpose – There is a significant knowledge gap in the common understanding regarding the value that investment leading to an increase in project management maturity brings to the organisation. The purpose of this paper is to narrow this gap by investigating the relationship between an increase in the project management maturity level and the project's performance. Additionally, it advocates the investment roadmap approach. Design/methodology/approach – This study is part of a worldwide research initiative into maturity in project management covering 447 global companies. For this purpose, survey data from experts from 194 select companies was analysed. Findings – The cost of forthcoming projects depends on the level of maturity of project management and type of industry. Research limitations/implications – The study is limited to three different industries (machinery, construction and information technology) and by the method of assessing their future project costs. New research directions are suggested. ...