July 17, 2008 Vol. 1, Issue 6

Government agencies face intense competition from private industry and developing nations in the global war for project management talent, according to Project Management Institute CEO Greg Balestrero.

Speaking at PMI’s Government Forum in Washington in June, Balestrero noted that high-growth nations and regions have greatly increased the demand for highly skilled project managers. According to forecasts, for example, the Persian Gulf will need 150,000 new project managers in the next five years. The talent pool to fill these positions is limited by the lack of academic and professional development programs in countries such as India, where construction projects alone are projected to total $1 trillion in the next ten years.

The government also loses skilled knowledge workers to private industry. Balestrero pointed to an ITAA federal CIO study that found that the average tenure of a government CIO is less than half that of a CIO in private industry. Nearly three-quarters of government CIO positions turn over in two years or less.

To succeed in this environment, Balestrero says that employee retention has to be elevated to the executive level and be treated as a strategic priority. Incentives and a well-defined career framework will make it easier for organizations to retain top talent.

PMI will hold its Global Congress-North America in Denver in October 2008.

Visit PMI’s website.