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Thought Leadership: August 2008 Archives

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The results are in: Project management does have value. If you didn't get a chance to view the full presentation of PMI's Researching the Value of Project Management preliminary results you can still watch it now. You'll hear more about the tangible vs. intangible benefits of project management, along with the importance of fit. It clocks in at about an hour--definitely time well-spent.

The preliminary results of PMI's Researching the Value of Project Management study was given by principal researchers Janice Thomas, Ph.D., and Mark Mullaly, PMP, on 14 July 2008 during PMI's Research Conference in Warsaw, Poland. For more on the study, be sure to check-out the full monograph, available this October.

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Want proof that project management does add value to organizations? Check out a short video on Researching the Value of Project Management featuring fresh insights on both the tangible and intangible benefits of project management from principal investigators Janice Thomas, Ph.D., and Mark Mullaly, PMP, and some of the study's contributing researchers, including Terence J. Cooke-Davies, Ph.D.

The Value of Standards

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Did you know that this month PMI is celebrating 25 years of standards creation? Tuesday, I interviewed Debbie O'Bray for an upcoming PMI.org story I am writing on PMI standards. She has been involved in standards development for quite some time and is currently a member of the Standards Member Advisory Group.

The interview got me thinking about the added value of standards. For some project professionals, they serve as a constant companion while for others these standards are guidelines or references project professionals can turn to with questions. But for everyone, the standards help create a common language to help communicate about everything from project scope to risk. And that common language is a key intangible benefit revealed in the Researching the Value of Project Management study.

In the presentation of the study's preliminary results in Warsaw, Poland, principal investigator Janice Thomas, Ph.D., said:

"The good news is that most organizations demonstrate intangible value and its significant intangible value around decision-making, around strategy, around effective work cultures, around alignment of approach, around terminology ..."

For my story, I also interviewed team members of different standard development teams. They devote time--sometimes years--to helping develop PMI's library of standards.

Obviously they see the value of standards. And this leads me to one conclusion: The value of standards and the value of project management go hand in hand.

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Voices of Project Management is the place for all things project management—covering sustainability, talent management, ROI, programs and portfolios and all points in between. The goal is to spark a discussion. So, if you read something that you agree with, want more information on or even disagree with leave a comment.