The corporate landscape is always changing. In this day and age, it’s all about staying competitive with digital innovation.
With that in mind, IT systems are becoming more robust, and infrastructure projects are now considerably larger and more ambitious.
Like any industry, projects can fail. But failure is expensive in the IT world. Failure is also tricky to avoid, especially when teamwork is involved. The common plights of team projects in the workplace might be familiar: a lack of a clear objective, miscommunication or a confusing project roadmap. Even minuscule roadblocks can derail a project and create a domino effect that reverberates throughout a company, so proper planning is key.
So, how are companies tackling IT project setbacks?
Collaboration is beneficial if done in an organized and mapped-out manner. With project management software and strategies, a streamlined and easily digestible approach can be an asset for both the team manager and the team. Shockingly, $97 million was wasted in 2017 because of poor project performance according to Project Management Institute (PMI).
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IT Statistics 2019
Take a look at these statistics to get to know the current state of the corporate IT landscape.
IT Digital Transformation Statistics
- By 2020, 61 percent of companies plan to use gigabit Wi-Fi technology, 57 percent expect to implement IT automation, and 48 percent plan to adopt IoT devices. (Spiceworks)
- 25 percent of large enterprises with 5,000 or more employees use blockchain-enabled technology. An additional 31 percent plan to implement blockchain-enabled technology by 2020. (Spiceworks)
- About one-fourth of companies expect to depend on AI to make real-time decisions in 2018. (CIO Dive)
- 40 percent of businesses think IT automation will have the biggest impact on their business. (Spiceworks)
Information Technology and Budget Statistics
- Information technology is currently a $4.8 billion industry and will only continue to grow. (CompTIA)
- 89 percent of companies expect their IT budgets to grow or stay steady in 2019. (Spiceworks)
- IT servicing appears to be a necessary asset. 44 percent of businesses estimate that an hour of downtime causes a loss of $10,000 or more. Additionally, around 4,000 ransomware attacks happened each day in 2016. (Marco)
- 64 percent of companies are building on their IT budget to replace existing outdated IT infrastructure. (Spiceworks)
- 85 percent of enterprise executives believe they have only two years to integrate digital initiatives before falling behind their competitors. (Advance2000)
- 19 percent of North American companies consider their tech (or digital) level as advanced. (Advance2000)
- 57 percent of companies say integrating key digital technologies is critical to their business. (Advance2000)
- 48 percent of employee-facing IT investments are mobile focused. (Maine Tech Group)
IT Career Statistics
- 29 percent of companies plan on increasing their IT staff. (Spiceworks)
- Around 5.4 million individuals worked as technology professionals in the U.S. in 2017. This is an increase of around 2.1 percent (110,000 new jobs). (CompTIA)
- 33 percent of millennial IT workers plan to seek new employment in 2019 (compared to 26 percent of Gen X and 13 percent of baby boomers). (Spiceworks)
- 25 percent of female IT pros expect a promotion in 2019, compared to 14 percent of male IT workers. (Spiceworks)
IT Project Failure Stats
- In 2016, studies showed that 50 percent of IT projects fail due to lack of time and resources. (ObjectStyle)
- In 2017, $97 million was wasted because of poor project performance. (PMI)
- 80 percent of IT professionals spend half their time reworking software projects. (Geneca)
- Only 23 percent of IT teams agree upon when a project is truly done. (Geneca)
- 33 percent of IT projects fail because senior management doesn’t get involved and the requirements/scope change mid-way through the project. (ObjectStyle)
IT Project Success Statistics
- IT project success rates are on the rise. Up to 80 percent of IT professionals agree that their projects delivered the promised business outcomes in 2017. According to CIO, “Organizations are becoming more mature with project management, and are focusing on benefits maturation and realization, instead of solely on cost, time and resources.” (CIO)
- Organizations that invest in proven project management practices waste 28 times less money because more of their strategic initiatives are completed successfully. (ObjectStyle)
- When proven project management practices are implemented, projects are more successful. (PMI)
Looking ahead to IT in 2019
Proper management is the key to success for IT professionals. When an IT team is on the right path, so is the company. Collaboration should be viewed as a positive resource, not a hindrance. Now that you’ve gone through these IT statistics, consider a project management game plan for your team. Be sure to leave a review once you’ve implemented a project management solution!
Ready to learn more project management? Take a look at this article covering the most impressive project management statistics.