By Eugene le Roux, FSAIRAC, and Eamonn Ryan
The untapped power of project management training: investing in success, not just damage control.
The question of whether training in project management is important might seem almost rhetorical in today’s complex and evolving business landscape. Yet, the persistent challenges of project failures, cost overruns and missed deadlines suggest that the true value and necessity of such training are often underestimated or overlooked.
This article delves into the critical role of project management training, exploring why its benefits might not be immediately obvious, why its absence can lead to costly and irreversible project failures, and why investing in this area is not just prudent but essential for organisational success.
One of the inherent challenges in advocating for comprehensive project management training is that its advantages are not always immediately tangible. The time and financial resources allocated to upskilling employees in this discipline might not yield instant, quantifiable results that directly translate to immediate project wins. This can lead to a perception, particularly among senior management often removed from the day-to-day intricacies of project execution, that such training is an optional expense rather than a strategic investment. Furthermore, senior leadership may lack a detailed understanding of the specific skill gaps and expertise levels of individuals operating at lower management tiers, making it difficult to appreciate the potential impact of targeted project management training on overall project performance.
However, the consequences of neglecting project management training often become starkly apparent when a project veers off course. Ironically, in the aftermath of a failed project, identifying the root causes of the derailment is often not a particularly complex exercise. Hindsight provides a clear lens through which to see where planning was inadequate, communication broke down, risks were mismanaged or scope creep spiraled out of control. The truly painful realisation, however, is that once significant time and financial resources have been expended on a flawed project, these investments are largely irrecoverable. Organisations can find themselves locked into detrimental contracts that are impossible to rectify without incurring substantial financial losses, creating a serious drag on profitability and potentially jeopardising the entire enterprise.
It is at this juncture that the true, and often belated, value of project management training becomes glaringly obvious. The issues that led to the project’s failure – inadequate planning, poor risk assessment, ineffective communication and uncontrolled scope – are precisely the areas addressed and mitigated through robust project management methodologies and skills. Had the project team been equipped with the appropriate knowledge and tools from the outset, many of these pitfalls could have been avoided. The tragedy lies in the fact that by the time the need for this expertise becomes undeniable, the opportunity to proactively prevent the problems has often passed. Some managers, focused on immediate cost savings or perceived time constraints, remain resistant to investing in training, failing to recognise its potential as a powerful preventative measure against far more significant future losses.
Adding to this shortsightedness is the fact that in many countries, the costs associated with employee training are even tax deductible, representing a tangible financial incentive to invest in workforce development. Astonishingly, some managers remain unaware of these potential tax rebates, further highlighting a lack of understanding regarding the broader financial benefits of training.
While the advantages of investing time and money in project management training might not always be immediately apparent on a balance sheet, the potential to prevent costly project failures, mitigate toxic contracts, and ultimately drive organisational success makes it an investment that is not merely important, but absolutely essential. Recognising and embracing the long-term value of upskilling project teams is a hallmark of forward- thinking leadership, a commitment to building a foundation of expertise that pays dividends in project success and overall business resilience.