The financial loss impacts an organization’s bottom line. As reported by the Economist Intelligence Unit last year in Why Good Strategies Fail: Lessons for the C-Suite sponsored by PMI3, senior executives recognize the importance of strategy implementation, but a majority of executives admit that their companies fall short and there is disconnect between strategy formulation and implementation.

This poor performance results in organizations losing $109 million for every $1 billion invested in projects and programs. High-performing organizations successfully complete 89 percent of their projects, while low performers complete only 36% successfully. This difference in success results in high-performing organizations wasting nearly 12 times less than low performers.

This high performance is achieved by applying the concept of PMP that introduces both agility and strategic management. As we know lack of alignment results in less organizational agility. No one would argue that the rate of change in today’s market environment is ever increasing. As a result, organizations must become more agile to respond successfully to change. Organizational agility is the capability of an organization to maintain a competitive edge by responding faster to changing market conditions while improving organizational efficiency and customer satisfaction.

Projects and programs that are aligned to an organization’s strategy are completed successfully more often than projects that are misaligned (48 percent versus 71 percent). PMI’s earlier research reported that aligning projects with strategic objectives has the greatest potential to add value to an organization.

PMI’s 2014 Pulse of the Profession research shows that organizations face a wide chasm between their actual state and the state of success, mostly due to a lack of focus on people, processes and outcomes. As a result, their projects, including those focused on an organization’s highest priorities—strategic initiatives—are suffering, and organizations are losing an average of US$109 million for every US$1 billion spent on projects.

The conclusion of this article is that PMP is the only tool in the industry that helps to make the project successful.

So if you are interested for PMP certification, contact QUANTUM Global Academy. Quantum is the leader in Online Professional Training and Certifications. We are proud to introduce these two courses in our product catalogue to help IT professionals around the globe to realize their career dreams by filling in the gap in their education through quality online education.

Quantum offers certification in PMP, ITIL, Cloud, Prince2, Six Sigma Green and Black Belt, Financial Risk Management, and many more. Quantum is approved by global certification bodies, such as, EXIN(R), Red Hat, ASQ for online delivery across the globe.

For more information, visit www.quantumglobal.org