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March 2009 - A recent PMI Pulse Survey indicates that the number of
canceled or delayed projects is growing as the economy struggles to
recover. The survey, sent to a random sample totaling 1000 PMI members
and credential holders, was conducted March 3-10 and 18-25, 2009. Half
or more of those surveyed over the past three months note that their
companies have canceled or delayed projects. However, of the more than
half of respondents who said their firms had canceled or delayed
projects in the past month, only one in eight characterized those
projects as “very significant” relative to their entire project
portfolio.
Respondents also noted significant job cuts in their
organizations, with just over half indicating lay-offs had taken place
in the past month. Fortunately, only 6% of the respondents reported
their status as “unemployed”, although an additional 5% indicate they
are employed part time – a significant increase since February.
|
In the past month, has your company canceled or delayed scheduled projects due to the current economic conditions? |
Mar 2009 |
Feb 2009 |
Jan 2009 |
|
Yes |
57% |
50% |
56% |
|
No |
30% |
31% |
32% |
|
Don’t know/Not sure |
13% |
19% |
12% |
|
What percentage of the funds
allocated for these canceled or delayed projects has been redirected to
existing projects or new projects? |
Mar 2009 |
Feb 2009 |
Jan 2009 |
|
0% |
19% |
24% |
33% |
|
1%-24% |
19% |
21% |
14% |
|
25%-49% |
8% |
3% |
6% |
|
50%-74% |
9% |
4% |
5% |
|
75%-99% |
4% |
1% |
3% |
|
100% |
1% |
1% |
3% |
|
Don’t know/Not sure |
40% |
45% |
38% |
|
Now please think only about
canceled or delayed projects in which the funds have not been
redirected. How would you characterize these cancellations and/or
delays relative to the entire portfolio of projects in your company?
Would you say the number and scope of projects canceled/delayed is... |
Mar 2009 |
Feb 2009 |
Jan 2009 |
|
Very significant relative to the entire portfolio of projects in your company |
13% |
22% |
20% |
|
Somewhat significant relative to the entire portfolio of projects in your company |
46% |
44% |
41% |
|
Not very significant relative to the entire portfolio of projects in your company |
20% |
16% |
21% |
|
Don’t know/Not sure |
22% |
18% |
18% |
|
In the past month, has your company laid-off full or part-time employees due to the current economic conditions? |
Mar 2009 |
Feb 2009 |
Jan 2009 |
|
Yes |
53% |
47% |
49% |
|
No |
42% |
41% |
43% |
|
Don’t know/Not sure |
6% |
12% |
9% |
|
Which of the following best describes your employment status? |
Mar 2009 |
Feb 2009 |
Jan 2009 |
|
Employed full-time |
87% |
89% |
88% |
|
Employed part-time |
5% |
1% |
4% |
|
Unemployed |
6% |
7% |
5% |
|
Other |
2% |
3% |
3% |
Another PMI Pulse Survey conducted with PMI
Registered Education Providers (R.E.P.s) indicates that the downturn is
also impacting project management training providers. About two thirds
said they are experiencing negative impacts from the economic downturn. Slightly more (70%) indicate that they decreased their revenue expectations for 2009 – a significant increase since February.
When asked how long they expect the downturn to
negatively impact their company the slight majority (55%) say through
the end of 2009; few expect it to last beyond 2010.
|
In light of the current global
financial crisis, has your company adjusted its project
management-related revenue expectations for 2009? |
Mar 2009 |
Feb 2009 |
Jan 2009 |
Oct 2008 |
|
Yes – We have significantly decreased our expectations |
28% |
26% |
21% |
16% |
|
Yes – We have slightly decreased our expectations |
41% |
33% |
38% |
29% |
|
No – We have not altered our expectations |
18% |
26% |
28% |
44% |
|
Yes – We have slightly increased our expectations |
10% |
12% |
10% |
10% |
|
Yes – We have significantly increased our expectations |
2% |
3% |
3% |
2 |
|
Has your company already experienced any impact from the current global financial crisis? |
Mar 2009 |
Feb 2009 |
Jan 2009 |
Oct 2008 |
|
Yes – An upturn in business |
10% |
13% |
11% |
8% |
|
Yes – A downturn in business |
67% |
62% |
56% |
40% |
|
No |
23% |
25% |
33% |
52% |
|
How long do you expect the current global financial crisis to have a negative impact on your business? |
Mar 2009 |
Feb 2009 |
Jan 2009 |
Oct 2008 |
|
Through mid-2009 |
7% |
9% |
22% |
27% |
|
Through the end of 2009 |
55% |
43% |
49% |
48% |
|
Through 2010 |
31% |
34% |
28% |
20% |
|
Beyond 2010 |
6% |
14% |
1% |
5% |
Note: Percentages in red indicate a significant difference from the prior month at a 95% confidence level
