ORGANISATIONS waste as much as 13 per cent of their capital spend due to programme and project failure, says the Project Management Initiative (PMI).

That’s a sharp contrast to entities that utilise success mechanism, which mitigate risk and losses and which see 90 per cent of their projects meet original goals.

What’s more, those high-performing organisations are 14 times less at risk than their counterparts, which gives them a competitive edge.

Importantly, the means by which businesses or agencies can compete and create a culture of project and programme management are available, according to Sherrone Lobban, director at Project Management Global Institute (PMGI).

The global registered education provider, which is approved by the US-based PMI, plans to host Global Seminars in December to share its research findings.

At the upcoming event, international experts Barbara Carkenord, pratice director of RMC’s Project Management Inc, will present on business analysis fundamentals on December 12-13, while Sonja Almlie, RMC’s senior instructor, will present on “The Agile Fundamentals” on December 17-18.

Christopher Tufton, keynote speaker at the event’s launch last Wednesday, stressed the importance of project management, which has to be applied when organisations have to align their strategy and become creative when they encounter paradigm shift.

“The challenge has always been to move from plan to implementation, and it’s a huge problem we face,” said the co-executive director of the Caribbean Policy Research Institute (CAPRI). “We often have to shift focus to achieve success, so this shift is putting you into project management.”