PMI President and CEO Mark A. Langley recently had the opportunity to speak at an international conference discussing challenges for the European Union's (EU) Cohesion Policy. PMI advocates for project management in Europe by helping improve the ability of countries to implement projects when they receive funding from the European Union. This funding is referred to as "cohesion" or "structural" funding. PMI strives to build administrative capacity for countries receiving this funding, and has successfully advocated for 21 amendments to EU legislation that specifically reference standardised project management practices.
The conference, entitled "Challenges for the New Cohesion Policy in 2014–2020: An Academic and Policy Debate", was organised by the Latvian Presidency of the Council of the European Union, the Directorate-General for Regional and Urban Policy of the European Commission, the Regional Studies Association and the University of Latvia.
PMI presented during the session on administrative practice and reform in the management of the funds. The aim of PMI's participation was to:
- Underline the importance of programme and project management practices in EU Cohesion Policy, as these are particularly effective in the management of funds
- Highlight the achievements of project management's new, important status within the Common Provisions Regulation
- Explain what certain project and programme management practices may bring to the Cohesion Policy and why these are important
Mr Langley explained that fostering project management capabilities would enable more effective management of EU funds. He added that doing so can also help address a lack of administrative capacity in an organisation. He noted that, due to poor project performance, organisations in Europe waste €144 million for every €1 billion invested. This means the European Commission, which intends to invest €352 billion in its member states, has up to €50 billion at risk. Mr Langley advised those attending the session to focus on three imperatives, which would improve the chances of success for government-led projects:
- Concentrate attention on critical initiatives;
- Use smart, simple processes; and
- Foster talent and build capabilities
