Why Project Management as a life skill ?

Academic studies have begun to explore the potential developmental and social benefits of teaching project skills to children via “project-based learning” in the classroom. But, by and large, the concept remains a new frontier, of interest mostly to charitable organisations and intrinsically motivated volunteers.
Inspired by my volunteering activities as a STEMNET Ambassador in schools I decided to offer a workshop that introduced project management and project based learning…”Mission to Mars” As a member of The Project Management Institute Sherwood Project Management supports The PMI Educational Foundation . PMIEF is the philanthropic arm of PMI . Find out how they are using project management for social good® to impact youth and communities around the globe at https://www.pmi.org/ The UK has a vibrant start up culture. Science Minister Chris Skidmore recently spoke about the role of private investment in achieving the Industrial Strategy ambition to invest 2.4% of GDP in R&D by 2027.He suggested 7 key areas of focus.This is item 2… “Turning new ideas into new businesses Secondly, we need to continually examine how our creative ideas are turned into new businesses, products and processes. This means developing our culture of startups. Making the UK the best place to start a new, innovative business. The good news is that UK is a start-up powerhouse. We continue to see major expansion in the number of tech startups in the UK, where we are witnessing double-digit growth year-on-year. And the latest university statistics show well over 4,000 start-ups and spin-outs are being established each year across a wide range of science and technology areas. If we are to build on this success, we must ensure we are at the top of our game when it comes to technology transfer. In my conversations with my overseas conterparts, I recognise that the UK has tremendous and underrated strengths in this area. But we must aspire to go further when it comes to turning great ideas into great businesses. So I’m excited to see progress being made on a new Knowledge Exchange Framework, to give greater focus to the knowledge exchange missions of universities. And with an increased weighting on impact in the next Research Excellence Framework, the UK’s commitment to driving research commercialisation has never been greater. But this isn’t just about universities helping academics to push their ideas out. It’s also about business pulling ideas in. We need to do all we can to close the gap between ideas and innovation, making it easier for business to know where to go to find partners, for people to move between academia and business, and for public funding to drive in private partners. That is why schemes like UKRPIF are so important. And initiatives like the UK Innovation and Science Seed Fund. It is also why knowledge transfer partnerships are so important, for developing links between business and academia. And it’s why we are continuing to invest £1.2 billion into our Network of Catapult Centres. We should also recognise that expanding into international markets creates huge business and research opportunities. Yet differences in intellectual property environments create risk and uncertainty. That’s why the Intellectual Property Office is working hard to leverage the UK’s world-leading IP environment to create an international intellectual property framework that maximises the benefits of innovation and creativity for the UK economy and society.” https://www.gov.uk/government/speeches/becoming-an-innovation-nation-driving-up-private-investment-into-research-and-development Source : Gov.uk  Published 10 July 2019 From: Department for Business, Energy & Industrial Strategy and Chris Skidmore MP The SME is the lifeblood of the global economic ecosystem, refreshed and renewed by the startup.Entrepreneurs need to learn skills that transcend simple academic knowledge and that provide them with an advantage in the business world. They need life skills, and many of these life skills are skills that project managers use every day.These skills—communication, teamwork, and ethics—are more important today than ever before.
Failure is costly. A recent survey launched at the PM Summit in Ireland found that around 20% of projects had failed at an average cost of €580,000 per project. This ties in with a UK-wide survey published by Axelos last year which found that 31% of business projects were failing. The report went on to estimate that the overall cost of project failure to the UK economy was in the region of £250bn. From a global  perspective, the Project Management Institute’s (PMI) annual Pulse of the Profession report on ‘High Cost of Low Performance 2013’ found that for every $1bn spent on a failed project, up to $135m was unrecoverable.
Source “The State of Project Management Survey 2018, UK: Wellingtone PPM.”
Why do projects fail?
Source “The State of Project Management Survey 2018, UK: Wellingtone PPM.”
Project management professionals will also be in high demand until 2027 due to the expected creation of millions of new positions and the finite number of qualified job candidates.This will produce a talent gap, which will affect a number of high-growth industries.As organisations in the UK find themselves competing for the finite pool of critical talent, it is essential that they source qualified project management personnel to fill any gaps.
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