What is a Project Management SOP?

According to the Project Management Institute’s 2020, Pulse of the Profession report, on average, 11.4% of investment in projects is wasted. This is a sobering statistic and suggests that it is vital to manage projects properly. One of the ways in which an organization can improve its project management capability is to document clearly the steps needed to get a project from conception, or ideation, through to successful completion. 

In other words, to create a Standard Operating Procedure document for project management. It is also important to ensure that the project documents produced by any given project are consistent with those produced by all the other projects. Having a similar approach across the project portfolio makes it easier to compare progress in each and to see which projects would benefit from extra resources and which need to be terminated before any further investment is wasted.

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