The Project Management Institute (PMI) have today released research which shows that €2 billion in tax-payers’ money can be saved on capital projects over the next five years, if project management is successfully implemented.
The research has been released ahead of PMI’s Ireland chapter conference which takes place on April 14th at the Aviva Stadium.
PMI Ireland Chapter’s latest figures estimate there are at least 50,504 people working in project-oriented occupations in Ireland. Almost 1,000 are members of the chapter which is the largest membership per head of population in Northwest Europe.
More than 300 members from a diverse range of sectors, including manufacturing, construction, IT, financial services, engineering and pharmaceuticals are set to attend the national conference which is almost fully sold out. Some of the high-profile companies already signed up to attend include Microsoft, Deloitte, EMC, PWC, Yahoo and PepsiCo.
PMI Ireland President, Niall Murphy says, "The importance of the discipline to the Irish economy cannot be underestimated and unprecedented capital savings are possible, provided the right project management strategies are implemented.
"PMI research shows that poor project management can cost $122 million for every $1 billion invested. If you apply this to the Irish context, where the government plans to spend over €16 billion on capital projects over the next five years, good project management can save Irish taxpayers €2 billion."
Source: www.businessworld.ie
