At Kingsfield, we are excited to be delivering our first project sponsor program “Effective Project Oversight” for a group of contractor executives in the October.
We have created this new course because we can see the direct connection between an effective, engaged sponsor and successful projects outcomes.
This is supported by extensive research in the field over recent years. A study by the PMI in conjunction with BCG1, for example, quotes that “one in three unsuccessful projects fail to meet goals due to poorly engaged executive sponsors”. The study uncovers three primary factors that can limit or inhibit a sponsor’s ability to be effective
- Overextension – sponsors report that on average they work on three projects or programs at the same time, an average of 13 hours per week on each – in addition to their day job
- Communication – a previous study by the PMI showed that US$75m of every $1bn spent on projects is wasted due to ineffective communications.
- Development – while on the job training is the most common way for sponsors to acquire their knowledge and skills, better project outcomes are achieved when organisations offer formal development…
…which is why we have created this program using case studies from our industry and using a highly experienced team of SME’s who would have dearly loved to have benefitted from this kind of safe space to share when they were doing similar jobs. If you would like further information on our project sponsor program, please get in touch.
- PMI Pulse of the Profession In-Depth Report 2014
Karen Cherrill – Director Kingsfield Consulting