The Power of Next-Gen Project and Portfolio Management: 6 key findings from the IDC White Paper

Smartsheet recently commissioned IDC to write an IDC White Paper, The Power of Next-Gen Project and Portfolio Management(doc #US51500623, January 2024). This research is based on responses from 629 business and IT leaders from North America, Europe, and Asia Pacific. The respondents were drawn from businesses ranging from small (50-999 employees) to large enterprises (over 10,000 employees) and primarily from five core industry sectors: health care, life sciences, IT, education and government.

You can check out the deep dive into the data in the IDC White Paper here, but some clear takeaways emerged throughout the findings and analysis. Read on to learn about these highlights and how they can inform your organization’s PPM strategy this year.

6 key research findings

1. 94% report having very flexible or somewhat flexible work models

Four years after the onset of the pandemic, flexible work models have significant staying power among respondents: 47% report having very or extremely flexible work models and 47% report somewhat flexible work models. Easy-to-use project management platforms that support standardization and scale without compromising user experience are essential for flexible work. 

2. Top business investments include PPM, AI-driven processes, and collaborative tools

How are business leaders currently prioritizing their investments? PPM, AI-driven processes/workflows, and intuitive collaborative work management rose to the top of the list, with 44% investing in PPM; 42% automating workflows (including ChatGPT and GenAI); and 41% investing in collaboration and communication tools. Prioritized investments for strategic alignment include setting up a centralized system of record with PPM, standardized process/workflow automation, and tools for data management and collaboration. 

3. Top PPM challenges include the expense of tools, lack of integration, and change management

When asked about their most significant challenges, 47% of respondents cited the expense of using PPM tools, 44% cited lack of integration with other systems of record, and 41% cited change management concerns. Additional challenges for successful PPM implementation include poor user experience and roll-out, the lack of a single platform for managing data, and data security.

4. 79% say less than half of their PPM workflows are automated

While 93% of respondents think workflow automation is a priority, organizations are struggling to execute on this, with 79% reporting less than half their PPM workflows are automated. Those who have succeeded with automation reported reduced process time and operating cost, reduced errors, and increased employee focus on higher value tasks.

5. Top PPM benefits include reducing time, effort, and data sprawl

When asked about the benefits of PPM, 40% say PPM enables them to connect and consolidate information, reducing data sprawl as well as time and effort. Top software capabilities to address challenges include smart data analytics, real-time reporting, and work alignment to strategic and operational goals. 

6. Higher PPM maturity correlates with strong scalability

It’s clear that organizations with more mature PPM processes are able to scale more effectively. The data indicated that organizations at a higher level of PPM maturity are six times more likely to see strong or unlimited scalability. Core business benefits of higher maturity include higher customer satisfaction, improved operations, and faster innovation. These in turn are fueled by automated workflows and intelligent data analytics. 

To find out more about how your organization’s PPM maturity measures up, take the free 10-minute maturity assessment.
  

Get the IDC White Paper

These are just a few of the insights and findings from the new research. To see all the data in depth, download your free copy.