What do project management and being a project manager look like in 2024? These project management statistics reveal a lot about how project leaders and teams need to evolve and adapt to the constantly changing landscape.
Project managers have always been the heart of their orgs—no matter what industry they’re in, or whether their job title is even ‘project manager.’
The importance of project management is sometimes lost on the higher-ups in these orgs, but these statistics highlight how project managers are more critical than ever in completing successful projects (or getting anything done at all).
Learn more about the state of project management in 2024 by digging into the project management statistics below and what they mean for you.
4 Project Manager Job And Salary Statistics
Businesses need the right professionals to put good project management practices in motion. Whether you’re hiring project management professionals or are one, this section on average pay may be of interest.
1. On average, experienced project management professionals in the United States make around $100,000 annually
Entry-level project management pros make a lot less, with averages ranging between $45,000 to $65,000 depending on the industry, the size of the company, and how much importance the employer puts on project management.
On the other end of the spectrum, senior project managers and leaders make an average of $120,000. Overall, this career path remains lucrative for those who are willing to put in the time and effort.
What it means for you: In simplest terms, being a US-based project manager is a solid career choice. Don’t let comparison be the thief of joy. Everyone’s salary needs and experience are different. But, if you feel like you’re being undervalued or underpaid, use these statistics and some of the reasons you deserve additional compensation to begin lobbying for it!
2. Average PM salaries in Canada run around 98,000 CAD
Canadian PMs earn slightly less on average, as this converts to around $74,700 US. However, that’s an apples-to-oranges comparison, since Canadian benefits packages tend to be quite different from those in the US.
Experience, certifications, and company type and size all play a role in salary in Canada as well. Those seeking to enter a PM career path may want to consider what type of industry they want to specialize in if salary is a major factor.
What it means for you: Like US-based project managers, these numbers mean that being a project manager is a good career choice with solid earning potential. As you consider which industry to specialize in, you might also think about project management certification programs or other continuing education to increase your earning potential and grow your career.
3. PM Pros in the United Kingdom make an average of 46,423 pounds annually
Project managers make less in the UK. This average equates to around $61,000 US. Again, you have to be careful of apples-to-oranges comparisons, though, and consider the entire benefits package.
What it means for you: If you’re a project manager in the UK, this doesn’t necessarily mean you’re less valuable than your US and Canadian counterparts. Consider that in the US, a lot of PMs spend more on health benefits and get less PTO and job protections.
Salary is only one part of a compensation package, so as long as your needs are being met, keep up the good work! Find out more about project management job benefits and packages here.
4. PMP certification holders make an average of 16% more than those without the PMP
If you’re looking for a way to up the ante on your wage performance in the project management industry, a PMP certification from PMI might come in handy. Those without this certification make less money on average than those who have earned it.
Other project management training (like the DPM School, hint hint) might also help you increase your value to employers. Look at job listings for employers you’re interested in or find out how those companies manage project teams and projects.
What it means for you: If you feel like you’re stalling in your career or earning potential, consider applying for and taking the PMP exam. But, before you invest the time (and money), make sure it will really help you get a salary increase or a new role. Some digital agencies feel that the PMP is too process oriented and will avoid hiring project managers with this designation.
4 Statistics About Project Failure And Success
Some projects fail. It’s a truth that every project management pro knows. But the ability to support consistent high-performing projects is important for businesses, team members, and project leaders.
Dive into the project failure statistics below to discover some important takeaways about project delivery, resource management, and project functionality.
5. 70% of projects fail
This is one of the most quoted statistics on the internet, and it’s hard to find the original source of this research. Deloitte, McKinsey, and several other big players cite this statistic in their reporting.
70% is a pretty high project failure rate, but you also have to consider that many projects never get out of the initial stage. Stakeholders might not understand the benefits of project management to a specific workflow, so they never greenlight the effort fully, for example.
However, it’s important for all project team members to understand the nature of project success rates. When you know how fragile project performance can be, you can align resources and engage in project planning to better protect it.
What it means for you: Project failure doesn’t have to be a self-fulfilling prophecy. It's up to you to work through project planning sessions and ensure that once your project has the green light, you have the team, tools, resources and budget to see your project through to successful completion!
6. Focusing on power skills can increase project performance exponentially
If you want to improve your organization’s project management success statistics and KPIs, invest in power skills. These skills, which include communication, problem-solving, collaborative leadership, and strategic thinking, give organizations that focus on them an edge.
In fact, the PMI 2023 Pulse of the Profession says, “Prioritizing power skills pays off. Wasted investment due to poor project performance averages 4.8% for organizations that put a high priority on power skills, while it is nearly double—8.8%—for those that put a low priority on power skills. The global average for wasted investment due to poor project performance is 5.2%.”
When doing professional development in your organization, consider bringing in trainers who are registered education providers from organizations like the Project Management Institute or building an internal project management office (PMO) for your business to focus on growing these skills the right way.
What it means for you: No matter where you are in your project management journey, plan to brush up on your power skills and invest in practicing and growing in these areas.
7. Challenges in scope management can lead to budget losses due to project failure.
Another key insight pulled from Project Management Institute’s 2023 Pulse of the Profession project management report, is that “Organizations that do not place a high priority on power skills are at a higher risk for projects that do not meet business goals, that experience scope creep and that lose more budget if the project fails.”
In organizations that place a greater emphasis on power skills, about 17% of the budget is lost due to project failure, compared to 25% in organizations that do not.
What it means for you: Guard your budget and protect your team from scope creep. Don’t be afraid to step into your power skills and combine them with good risk management practices to help keep projects from failing. If you see a risk of failure or budget overrun, speak up!
8. 64% of high-performing project teams say project management maturity is critical
According to the Project Management Institute’s Pulse of the Profession 2023 survey, respondents who run successful projects say they put a priority on benefits realization management, project management maturity, and organizational agility.
That’s a lot of buzzwords that boil down to this—you’re more likely to succeed with projects when:
- You have experienced project management professionals at the helm
- Stakeholders and sponsors are educated about PM methods and can appropriately support teams
- Flexible resource management allows the entire team to move quickly to support important priorities
What it means for you: Don’t discount your role on the team and don’t be shy about reminding organizational leaders and key stakeholders why project management is so important.
4 Project Management Statistics About Agile
Agile is a popular project management methodology that focuses on completing work iteratively and adapting to change. Traditionally a favorite for software development, agile approaches are used by a variety of businesses today.
9. More than half of all companies that prioritize agile do so to accelerate time to market
Around 52% of agile project teams say the reason for adopting this approach is to reduce how long it takes to get a minimum viable product (MVP) to market. That’s a good reason; faster time to market means faster time to revenue generation and the ability to move on to the next project.
Other top reasons for adopting this approach include the creation of delivery predictability and reducing risks. In short, if you’re looking for a PM method that supports efficiencies, consistencies, and quality, agile might be right for your teams.
What it means for you: If you work on software, apps, or other types of projects that your organization sends to paying customers, you might want to seriously consider adopting an agile approach if you haven’t already.
10. The most popular measure of success for agile project management is on-time delivery
Around 47% of organizations that use agile measure success based on whether or not teams deliver projects on time. Around 44% measure based on whether or not the project team met the business objective defined at the beginning of the effort.
The takeaway here is that agile teams must pay equal attention to project schedules as they do to the actual work.
What it means for you: Don’t be shy about digging into your team’s data around project velocity. In your next team retro take a look at the work you completed in the last sprint compared to your estimates. If the team is hitting blockers or tasks are taking longer than you anticipated, see what can be done to improve in the next sprint (and the ones after that).
11. 50% of teams that use agile methodologies combine it with other tools
Organizations that use agile often combine it with waterfall approaches or other tools that work for the project at hand. You should always be aware of good project management tools and how you can incorporate options like Kanban into your workflows.
What it means for you: To increase the odds of project success, try leveraging the best parts of other methodologies and tools. Consider moving from an agile approach to a hybrid approach where it makes sense.
12. More than 70% of organizations that use agile say they are satisfied with it
Agile is a popular project management methodology for a variety of reasons. The concept is simple, it’s fairly easy to implement, and it’s a tried-and-true approach that’s flexible enough for use in a variety of industries.
That being said, you should never stick with a project management tool or method that doesn’t work well for your team or business. Just because agile users love it doesn’t mean it’s right for you. If you’re not getting the project performance that you want out of a method or tool, do some research and tweak your approach.
What it means for you: Get honest with yourself and your team about whether or not the method is truly working for your organization. If you need to, double down on the data and see where agile is doing well and where you might need to improve your tools, processes, and even your overall approach to running projects.
3 Statistics About Project Budgets
Budgets are incredibly important to project management. When stakeholders understand the value of project management, they can better fight for appropriate budgets. That, in turn, reduces the chance of overruns.
13. Teams that have the right PM power skills are 32% less likely to lose their budgets
When your teams are equipped with strong project management skills and resources, they’re more likely to succeed. The more often teams succeed, the more trust they build with stakeholders and financial decision-makers.
Even in the face of potential failure or intense odds, these teams are less likely to have the budget rug swept out from under them.
What it means for you: I simply can’t understate the importance of power skills when it comes to project success. So protect your budget and grow your career by embracing these skills and working to grow them in yourself and your team.
14. Project management pros and talent decision-makers agree that training budgets should go to technical skills
One thing everyone seems to agree on is that technical training should be part of the budget. Around half of financial decision-makers and just over 45% of PM pros say this is a good use of budgets. Other important training considerations include developing power skills like communication and collaboration, and building up overall business acumen.
The takeaway is that many people seem to understand that project teams succeed more when they have the right skills and resources. But there’s still friction between the project team’s needs and the organization’s ability and desire to invest in them.
What it means for you: Advocate for your needs around technical training. It doesn’t have to break the bank—consider using free resources put out by the companies that make the tools or skill shares and swapping skills with another PM in your community.
15. Cost is a barrier to prioritizing project management skills in many organizations
Around 44% of all organizations note that cost is a barrier to developing internal project management power skills. Whether sending team members to workshops on project leadership or footing the bill for certification in a specific project management methodology, training can be expensive. Some organizations go so far as to hire internal experts to conduct training, while others rely on online webinars.
Since prioritizing this training can help your teams succeed, it may be best to start where you can. Even if you can only afford a little training at a time, building those power skills helps support project success.
That in turn supports the success of your project, potentially creating a cycle that leads to more revenue and more capital with which to keep building skills.
What it means for you: Remember that you’re the driver of your personal and professional development. So, if your company can’t or won’t invest in training, see what you can find on your own. This may also include seeking out a mentor who can share knowledge and provide insights and feedback to help you grow your skills.
5 Project Management Software Statistics
From Asana to Wrike, the project management software market is filled with resources to support project efforts. They range from basic templates to complete PM software like Microsoft Project. Discover more about the state of PM software with the stats and facts below.
16. The global market for project management software is growing at a CAGR of 15.7%
From 2023 to 2030, the PM software market is expected to grow at a healthy rate. What this means for project teams and businesses is that collaboration tools, automation, and other resources will be easily accessible.
The competitive nature of the market is likely to keep costs affordable for many tools, helping businesses of all sizes bring in technical resources to help with project initiatives.
What it means for you: It’s time to get a little picky. Having more options for tools is great, but there comes a point of diminishing returns. Define your processes and pick the tools that best enable you and your team. Be careful not to over stack your tools and risk tool fatigue.
17. Leaders in the sector include Adobe, monday.com, Microsoft, Atlassian, Asana, and others
It isn’t easy to name a king of market share in the PM software sector, partly because various companies provide niche-based products. Those with the biggest market shares tend to be large enterprises that offer more than one tool, such as Microsoft, SAP, Oracle, and ServiceNow.
However, smaller teams and businesses can rest assured that affordable, niche-based products are available to them from contenders like Asana or Trello.
What it means for you: If you’re using a product made by one of the big players, you’re in good company. Some tools (like Asana) offer communities or ambassador programs to allow users to learn from each other and share best practices.
18. The support and maintenance sector of the project management software market is growing slightly faster than other sectors
This market sector is expected to grow by 17.2% CAGR from 2023 to 2030. The sector aims to provide expert-level service, training, and knowledge, partnering with organizations that need to quickly identify and solve everyday challenges in project management.
This is good news for organizations that don’t have the resources to create robust in-house PM software expertise. Vendors willing to act as partners help those businesses bridge an important gap. Other tools, such as Jira, provide the mechanisms by which internal teams can build and run communications and support workflows.
What it means for you: Embrace this off-the-shelf technology to meet your needs. Save your custom software dollars for other aspects of your business.
19. The small and mid-size enterprise segment is also growing faster than the market for other types of project management tools
With an expected CAGR of 17.3% from 2023 to 2030, the small and mid-size sector of the project management software industry is also growing faster than the whole. Solutions that are developed in this sector tend to focus on automation and digitalization to help smaller firms compete in big ponds by driving efficiencies and making smart use of resources.
What it means for you: If you manage projects in this space, embrace the technology, learn to leverage automation and workflows, and keep reaching for those bigger projects!
20. The artificial intelligence in project management market is expected to experience a 17.3 CAGR from 2023 to 2028
Of course, AI is a buzzword in all sectors in 2024. It’s not a surprise it shows up with strong growth in the PM software market. Look for solutions to leverage artificial intelligence in project management to help teams improve communication, reduce tedious task loads, and make the most of budgets.
Asana, Notion, and many other tools are releasing additional functionality enabled by AI. As a project manager, this might be great news for you as you can train your tools to do some of the more tedious administrative work.
What it means for you: If learning to leverage AI technology isn’t part of your professional development plan this year, try to work it in as soon as possible. While you shouldn’t be concerned about AI replacing project managers, you don’t want to be lacking in what could become a critical skill for digital project managers.
Consider learning to use AI to set up new projects from a template, draft meeting notes and summaries, provide status updates to clients (after you’ve reviewed and edited), and much more.
From Statistics To Action: What It Means For You
Revved up about project management and ready to implement some changes after checking out all these statistics? Huddle with your team and determine where you want to start. Will you all do a webinar together to build on your power skills, or drill down on your tech stack and evaluate your choices more closely?
Once you decide on your plan of attack, tell us about it. We love to chat about PM methods or your initiatives in real time on our social media platforms. And for more insider news about project management, sign up for The Digital Project Manager newsletter. We’ll deliver relevant facts, stats, and other info direct to your inbox.
Plus, check out statistics on which of the United States has the most entrepreneurs and small businesses here.