How well do your firm's project managers achieve project budget performance and client satisfaction? This is among the key challenges faced by all firms—no matter firm type, size or geographic location. What can your architecture or engineering firm do to achieve the best results? What is the impact of such factors as project manager performance on project budget performance and client satisfaction?
These are just some of questions addressed in PSMJ’s A/E Project Management Study: Delivering World Class A/E Project Management Performance: How Today’s Most Successful A/E Firms Keep Their Projects Under Budget and Their Clients Happy.
A/E firms measure key PM performance factors
In this study, we were particularly interested in, if and how firms measure project manager performance. For instance, we asked firm leaders to rate the importance of various project manager performance factors.
What we found was that the two factors ranked the highest: client satisfaction and quality of work products. What is interesting is that both factors ranked higher than project profitability i.e. budget performance.
How do firms measure PM performance?
Then we asked firms how they measure their project managers' performance.
What we found was that the highest response rate (34%) of firms said they measure their PM’s performance regularly.
Meanwhile, about a third of firms use observation and non-quantifiable measures. Few firms said they make no attempt at all to measure it.
Regular performance measurement means better budget performance
When we looked at results, we found that firms that monitor key performance metrics regularly achieve significantly better budget performance than firms overall.
Regular performance measurement means higher client satisfaction
When we looked at results, we found that firms that monitor key performance metrics regularly achieve significantly better budget performance than firms overall (see left).
In PSMJ's A/E Project Management Performance Study: Delivering World Class A/E Project Management Performance: How Today’s Most Successful A/E Firms Keep Their Projects Under Budget and Their Clients Happy, we not only present the results of the survey, which was conducted with 223 participants regarding project management practices, but we also wrap up the report with nine specific recommendations based on how successful firms are able to keep projects under budget, while also keeping their clients happy.
Updated study to be released in 2018
PSMJ has conducted this study again in 2018, and the results will be presented by PSMJ's David Burstein at PMX 2018, the ONLY conference of its kind that is 100% focused on the trends, challenges and opportunities specifically for architecture, engineering, and construction project management.
This is your chance to uncover best-in-class ideas, challenge conventional thinking, and return to the office with new energy to increase profits, improve client satisfaction, and add value to your organization through better project management. Preregistration is now open with new registrants able to receive a free copy of the 2018 Project Management Trends Survey, report when it is released.