There is increasing recognition that projects and project management are no longer confined to the traditional domains of construction and heavy engineering, and large capital investments. Instead, project management can be seen to be a ‘golden thread’ helping to drive quality, efficiency and the effectiveness of strategic change in all sectors and organisations, ranging from the contributions being generated within local schools and charitable organisations through to central government and major technology programmes. In response the Association of Project Management (APM) commissioned PwC to conduct a study looking at project management across the UK, including a snapshot view of opportunities for Project Management in the ‘West London: Heathrow Corridor’ context (see pgs 24-30).
K E Y F I N D I N G S
The research concludes that those employed and working as project managers – the profession – make a significant contribution to the UK economy, with approximately 2.13 million FTEs employed in the UK project management sector and the profession generating £156.5bn of annual GVA. This represents 7.9 per cent of UK employment (FTEs) and 8.9 per cent of UK GVA.
E X P E C T E D C H A N G E I N
P R O J E C T M A N A G E M E N T W O R K
For the most part, businesses across all sectors were optimistic about the future of project management. Fifty per cent of our survey respondents expected that the number of projects they undertake would remain at a similar level over the next three years and 40 per cent predicted growth in project-based activity. This PwC analysis confirms APM’s most recent salary survey, which showed rising confidence and optimism within the profession despite the wider organisational and economic challenges.
R E C O M M E N D A T I O N S
The research team recognises that this report is just beginning to scratch the surface of an important area that needs to be better understood. It sees this as a starting point for ongoing and further research and exploration and hopes it will act as a catalyst for a call to action in a number of key areas:
- For UK PLC to actively and clearly recognise the value of projects and project management to the economy and society. The UK’s senior leaders and decision makers, government and academic audiences need to support APM in the promotion and resourcing of the profession going forward.
- For APM, with the support of its members, to consider undertaking a follow-up analysis at sector level to explore the growth opportunities and challenges faced by organisations, large and small, in key sectors.
- For universities, colleges, training providers and large corporates to work closely with APM to map and close the skills and talent gap and to develop appropriate mechanisms to create an effective talent pipeline to fulfil this growing capability requirement.