APM publish report that provides a unique insight on the contribution of project management to the UK economy

APM commissioned PwC to conduct research into the contribution of project management to the UK economy

'The Golden Thread' report provides a major step forward in the greater awareness of the project profession and the importance and value of projects and project management

Background

The Association for Project Management (APM) today published “The Golden Thread” – a report that APM commissioned PwC Research to produce, from a study into the contribution of project management and projects to the UK’s economy and society.

The APM views project management as a ‘hidden profession’ and its value under appreciated. The report is a first of its kind, conducted across 438 organisations, providing a major step forward using robust data to benchmark the contribution of project management to the UK economy.

Key findings from the report

  • The project management profession makes a significant contribution to the UK economy, with 2.13 million full-time equivalent workers employed in the UK project management sector.
  • The profession generates approximately £156.5 billion of annual GVA (a measure of total output and income of a sector, region or activity)
  • 40% of organisations surveyed predict a growth in project size, and 34% expect project budgets to grow over the next three years.
  • More than half of organisations expressed concern over the perceived impact of political uncertainty in the UK.
  • A third of organisations cited skills and capability shortages as a potential barrier to the future of project management growth and it’s potential contribution to the UK economy.

It is expected that the report not only highlights the contribution of the project management profession, but also highlights the impact of the profession across many industry sectors and the challenges to overcome. From providing this level of understanding it’s aim is to generate debate and take the profession to the next stage of its evolution.

A full copy of the report can be downloaded here.

About the APM

The APM is largest professional body of its kind. It has over 28,000 individual members and over 500 organisations participating in the Corporate Partnership Programme. It gained it’s chartered status in 2017 and announced its first chartered project professionals in 2018.

Provek is a leading APM-accredited training provider that offers both public and in-house corporate training programmes for the range of APM qualifications, including specialist support for PPQ, RPP and ChPP.

 

Sandie Grimshaw, Partner, PwC

“The project management profession is relatively new compared to some other professions, such as lawyers, teachers and doctors. However, as project management is a core competence vital to organisations in the UK, the profession is critical and will continue to grow in stature.”

 

For further information on Provek's APM-accredited training please get in touch

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