PMI’s 2017 Pulse of the Profession®: Success Rates Rise: Transforming the High Cost of Low Performance demonstrates that last year organizations around the globe reduced the average amount of money wasted on projects and programs by 20 percent compared to the previous year. Globally, organizations wasted an average of $97 million for every $1 billion invested in projects and programs in 2016, compared to an average of $122 million per $1 billion in the previous year.India reported the lowest average monetary waste on projects, $73 million per $1 billion invested, followed by China and the Middle East, both of which reported a loss of $82 million per $1 billion. The highest average waste was reported from Europe with $131 million per $1 billion. Raj Kalady, managing director, PMI India, said, “As organizations face increasingly complex challenges from forces such as innovation, disruption, uncertainties, and the demands of a global business environment, the inextricable link between strategy and implementation must be addressed. What’s also critical is an understanding of how change occurs: Operations run the business; but projects change the business. A formal approach to project and program management can be the link that ensures that an organization has the capabilities for change and strategy execution that it needs.” The report further determines that organizations are becoming more mature with project management and are distinguishing themselves by: