In the ever-growing era where every second matter in a project, productivity is undoubtedly the top priority. The statistics related to productivity can be of help to many project managers in their daily job.
These productivity statistics in project management will help you if you are a rookie contemplating a job as a project manager. On the other hand, if you are an experienced project manager seeking to learn more about your sector, this is the best way to start. It can also help if you are an investor curious about why your projects aren’t as successful as expected.
Table of Contents
Statistics on the Overall Productivity of Employees
- Did you know that the typical employee gets interrupted 56 times a day at work?
- When employees communicate with one another, their performance rises by up to 20%.
- Employee satisfaction has increased productivity.
- Creating a robust corporate culture helps boost employee productivity.
- Employees spend only less than 60% of their work time being productive.
- The typical employee spends two hours every day recuperating from interruptions.
- Working intervals of 90 minutes are most beneficial to high levels of performance and productivity.
Saves Project Managers’ Time
The advances in project management help cut 10 minutes of project managers’ time every day. Although 10 minutes might not sound like a deal-breaker, when we calculate for a year, it results in 153 saved hours.
It is also reported that the team who work with these managers saves around 20 minutes per day on average. This results in a cumulative of 498 saved hours for a year which you can use for other projects. This also resulted in 29% of projects getting completed on time.
Generates Revenue much Quicker
According to 2019 agile adoption statistics, organizations that used an agile project management system generated revenue 37% quicker than the other organizations. This also means that those organizations that used an agile project management system generated 30% more revenue than usual.
Engagement of Employees
- Employees are 6 times more engaged in work that allows them to make use of their strengths on a daily basis.
- Employees who are engaged in their job have outshined those who are not.
- Customers are more likely to stay with organizations that have engaged employees.
- The present younger generation is the most disengaged from their jobs.
- The productivity and profitability of your organization will be low if your employee engagement score is low.
- According to reports, 70% of employees are not engaged in their jobs.
- The United States loses between $450 billion and $550 billion each year owing to disengaged employees.
Increases Efficiency
It has allowed 15% of project managers to handle 1 project, 59% to handle 2 to 5, 11% to handle 6 to 10, and 15% to handle more than 10. It is the wish of every organization to function at its highest capable efficiency.
90% of organizations that employ project management report increased productivity and creativity. 77% of all highly productive projects employ project management.
Things that hinder Productivity
- Every day, one million employees are absent from work owing to stress.
- Employees spend around 28% of their working hours either reading or replying to emails.
- Lack of communication contributes to job failures, according to 86% of employees.
- Poor management is a cause for the loss of productivity for 58% of employees.
- Employees who feel overburdened are less likely to be productive than employees who have a capable workload.
- During the summer, attendance at employees falls by roughly 19%.
Strengthens Team Coordination
According to reports, the usage of project management has strengthened team coordination/communication by 52%. The success of a project depends on how effective the communication between the team is.
Good coordination between the team involved in the project can make the project successful. Communication and coordination are improved dramatically in teams that utilize project management to handle their projects.
Productivity of Employees in Meetings
- Every month, employees waste around 31 hours in unproductive meetings.
- During meetings, 73% of meeting attendees do other work.
- 39% of meeting attendees admit to sleeping during a meeting.
- Employees believe that almost half of all meetings are a waste of time.
- Meetings are regarded as a waste of time by 47% of meeting attendees.
- Employees spend at least one hour on average every working day in meetings.
Helps in adhering to the Budget
Adhering to the original budget is one of the top concerns for an organization. 66% of organizations that used project management finished projects under their initial agreed-upon budget. Only 47% of organizations that did not use project management finished projects under the budget.
A study found that organizations that implemented project management techniques saved 28 times as much money as their counterparts. In addition, the usage of project management increased the accuracy of budget forecasts in 47% of organizations.
Consequences of Being Unproductive
- The expense of having one million people miss work each day due to stress adds to around $600 per employee each year.
- Every year, needless meetings cost US organizations to pay $37 billion in salary to their employees.
- Every year, organizations with high employee stress levels spend 50% more on employee health care coverage.
- Needless emails cost organizations $1800 per employee every year.
- Sleep deprivation among employees may cost organizations about $65 billion each year.
- Organizations that allow their employees to indulge in their pleasures during working hours lose up to $14 billion in lost productivity.
Conclusion
We hope that we were able to provide an insight into the various statistics related to productivity in project management. Although these productivity statistics are only a few of the many out there, these should be more than sufficient.
Project management is an industry that must evolve in order to meet the ever-increasing expectations that the digital age imposes. You can use these crucial productivity statistics to fine-tune your project management.
