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56% of a project budget that is at risk, is at risk due to ineffective communications.

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A report by PMI, Pulse of the Profession™ In-Depth Report: The Essential Role of Communications, quantifies what executives and project managers around the world would agree, poor communications contribute to project failure. According to the 2013 Pulse report, for every US$1 billion spent on projects, US$135 million is at risk. Fifty-six percent of that amount — US$75 million — is at risk due to ineffective communications.

$75mil

Organisations that communicate more effectively deliver more successful projects. PMI’s Pulse research reveals that highly effective communicators are five times more likely than minimally effective communicators to be high performers — to complete their projects on time, on budget and having met original goals and business intent.

Social collaboration can assist and improve project communication. With project conversations, key deliverables, important documents, and major milestones all collected and unified in context, your teams can identify issues, solve problems and communicate with ease, keeping everyone up to date on the status of deadlines and deliverables. Find out how, with Kona.

Download the report and read more about how your project success, and subsequent business success, depends on effective communications.

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Author: smartsoftware

Smartsoftware is an international provider of software solutions for the architectural, engineering, construction and professional services industries. Providing everything from project management, financial management, document control and resource planning to time collection and business development, our integrative products offer a total business solution – designed to streamline workforce processes, improve business performance, and maximise resource potential and increase productivity. www.smartsoftware.net Follow us on Twitter @smartsoftware_1

2 thoughts on “56% of a project budget that is at risk, is at risk due to ineffective communications.

  1. Pingback: Collaboration is still key | Smartsoftware Blog

  2. Pingback: Technology is enabling trust between strangers | Smartsoftware Blog

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