Accenture Academy Blog
Several decades ago, few organizations understood that there is actually a defined step-by-step approach to successfully managing projects. Most organizations were puzzled by trying to understand why their current projects were not ending as successfully as previous ones.

The Standish Group’s recent CHAOS report states that the world is spending almost 25% of its $40 trillion gross product on projects. However, only 32% of the projects are successful, 44% are challenged, and 24% are failed. This reflects a strong business case for the creation of project management roles.

If you have been involved with one of these endings, it is crucial for you to understand the fundamentals of what project management entails. Conversely, if you have experienced success in managing a project, you may want to learn more.

The Project Management Institute (PMI) was founded in 1969 to certify project managers as Project Management Professionals (PMPs). PMI’s 2012 study “PMI Pulse of the Profession” indicated that PMP-certified managers had 35% better project performance. It is important to know the attributes that not only make a project a big success but also determine a project’s life cycle and its supporting processes.

How many of us allow ourselves the time to properly approach a project and recognize its purpose and goals? If you do not formally recognize the beginning of a project, you will never know when it is completed.

Do you have the skills to ensure your projects are successful? Do you know which tools to apply and when? If you are aware of which phase your project is in, you can know which tools and methodology will help you succeed in moving on to the next phase in the project. The Accenture Academy course Overview of Project Management and Initiating Projects can help you master the art of project management and project initiation.

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