Institute champions new era of ‘Project Success’

Project Management Institute (PMI) has unveiled the most ambitious research initiative, challenging long-standing views on what defines project success and the role of project professionals.

PMI aims to ignite a global movement by shifting the focus from traditional metrics like schedule, budget, and scope to a broader perspective that prioritises stakeholder value and accountability.

The research, according to a statement unveils a new definition of project success: successful projects deliver value that justifies the effort and expense. This broader definition incorporates both hard facts and perception, igniting a major shift in how project professionals should view their roles.

“This is about going beyond project management success to simply project success,” said Pierre Le Manh, President and CEO of PMI in the statement.

“We must take accountability beyond the technical side of our work. The research shows that what truly matters is how stakeholders perceive the value of a project relative to what it took to get there. Our profession must embrace this shift and hold ourselves accountable for the ultimate success of the projects we lead, not just their proper management. Recognition and career opportunities will follow when we are seen as the key drivers of this value, especially as AI automates more tasks,” he added.

Based on this new definition, PMI research reveals that 48% of projects are considered successful, while 40% fall into a gray area—neither failures nor successes—and 12% are outright failures.

This shift comes at a critical moment, as AI delivers new productivity breakthroughs and forces many professions to reinvent themselves, while the acceleration of transformation demands professionals who can lead it. In the next decade, industries worldwide will need millions of new project professionals. A recent LinkedIn study ranked project management as the fourth most in-demand competency for 2024, the statement said.

The research also reveals that project success varies across industries. Sectors like industrials, construction, and healthcare report the highest success rates, while government and consulting projects lag behind. Projects that deliver value in the form of social impact are 1.6 times more likely to be deemed successful. Meeting defined requirements (1.5 times) and customer satisfaction (1.6 times) further underscore the importance of a value-focused approach to project success.

Projects with clear goals, performance management systems, and tracked metrics over the project’s life were nearly twice as likely to succeed. Other important levers include a sound business case, positive team morale, adequate funding, and effective resource management.