News that President Barack Obama has signed into law the Program Management Improvement and Accountability Act is great for the industry.
As studies from the Project Management Institute (PMI®) have shown over the years, certified Project Management Professionals (PMP®) earn on average up to 20% more than their non-certified colleagues.
Knowing the value of project management certifications, experience and skills can be a great advantage for organizations seeking to fill project management roles, as well as for individuals
competing to qualify for those roles.
The act will enhance accountability and best practices in project and program management throughout the federal government. The legislation, strongly endorsed by the PMI®, was approved by both chambers of Congress with overwhelming bipartisan support.
The PMIAA reforms federal program management policy in four important ways:
- Creating a formal job series and career path for program managers in the federal government.
- Developing a standards-based program management policy across the federal government.
- Recognizing the essential role of executive sponsorship and engagement by designating a senior executive in federal agencies to be responsible for program management policy and strategy.
- Sharing knowledge of successful approaches to program management through an interagency council on program management.
The reforms outlined in the act are consistent with PMI® member input and research that shows that organizations that invest in program management talent and standards improve outcomes, accountability and efficiency.
The findings demonstrated by the PMI’s Pulse of the Profession® report also indicate that standardized approaches, engaged executive sponsors and certified professionals are fundamental building blocks to all organizations achieving their highest levels of performance. Improving program management leads to benefits such as increased collaboration, improved decision making and reduced risk.
The report also uncovered that only 64 percent of government strategic initiatives ever meet their goals and business intent – and that government entities waste $101 million for every $1 billion spent on project and programs. The research also shows that these best practices result in improved efficiency and less money being wasted. Most importantly, organizations see more projects delivering expected value to stakeholders on time and within budget.
At Off Peak Training we have been delivering tailored project management training for many years and we offer a wide range of flexible delivery methods including on-site training, weekday and weekend training, as well as a full suite of web-based, self-paced training.
Our courses help professionals acquire and strengthen technical skills and expertise necessary to meet the stringent requirements for Project Management, Risk Management, Schedule Management and Information Technology.