Good times ahead for the project profession despite challenges
26 July 2019
“Despite global and political uncertainty the UK’s project management profession faces a positive future.” That was the message Julie McClean, Head of Quantitative Research at PwC Research, shared at an Association for Project Management (APM) conference on Wednesday 26th June.
At the APM’s Power of Projects: Unlocking the future conference, Julie presented the results of the Golden Thread, a PwC Research and APM report on the contribution of the project profession to the UK economy. The study reveals that the project profession contributes an annual GVA of £156.5 billion to the UK economy and supports around 2.1 million full time equivalent (FTE) jobs.
Forty per cent of the 438 organisations consulted in the study, predict growth in project-based activity over the next three years. Only 6% anticipate activity to decrease, while more than a third expect project budgets to increase. This PwC analysis confirms APM’s most recent salary survey, which showed rising confidence and optimism within the profession, despite the wider organisational and economic challenges.
These challenges are expected to continue with over half of survey participants citing the current political uncertainty as a concern in the medium term. Almost four-in-ten respondents (39%) view cost pressures as a challenge while 32% believe that they will experience difficulties in accessing enough people with the right project management skills in the near future.
To find out more, contact Julie McClean.