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Work Location Does Not Impact Effectiveness of Project Performance, Finds New Research from Project Management Institute

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To move the needle, PMI Pulse of the Profession® 2024 Report finds organizations are better off investing in specific support programming for teams and individuals

NEW DELHI, March 4, 2024 /PRNewswire/ — To examine if work location really drives project performance Project Management Institute (PMI), the world’s leading authority for project professionals, published its 15th annual Pulse of the Profession® report, The Future of Project Work: Moving Past Office-Centric Models. The survey results of 2,246 project professionals and 342 senior leaders around the world provide compelling evidence that organizations can provide work location flexibility, agility, and empowerment without affecting project execution and performance.

Since COVID-19 transformed the world of work nearly four years ago, there has been much debate about the most effective work arrangement, and many studies have attempted to argue the negatives of remote work outweigh the positives. However, data from the report suggests organizations that bring employees back into the office will likely not see a significant improvement in project performance, especially considering the negative impact this could have on employee morale and retention, as well as operational costs. 44% of Indian organizations reported that they had adopted a hybrid work environment while 10% reported that their organization was working remotely. This clearly shows the change in perception of remote working.

Rather, organizations should focus on empowering flexibility that optimizes team collaboration, innovation, agility and efficiency. And they can do so without worrying about negative impacts on project performance. For many teams, that is a fit-for-purpose, hybrid management approach – one that blends both agile and predictive tools and methods. Organizations need to create an environment of continuous learning and support that makes this possible.

“This report underscores the importance of organizations not only reevaluating their work location policies and optimizing how they operate, but also prioritizing the development of essential skills within project teams to enhance their adaptability,” stated Pierre Le Manh, President & Chief Executive Officer of PMI. “Empowering project professionals and teams with the autonomy to determine and implement the most appropriate ways of working —irrespective of their physical location—positions them for greater success in navigating uncertainties, evolving business landscapes, emerging challenges, and project demands.”

Enabling Teams Drives Project Performance

The research found that enablers – specific supportive programming that helps individuals and teams learn new skills and competencies – play a much larger role in driving project performance than work location. In fact, providing teams with enablers is crucial in today’s dynamic business environment to navigate the demands for flexibility and agility.

The three most common enablers organizations provide are coaching and mentoring, training on new ways of working, and communities of practice to share knowledge and expertise. Organizations that offer employees at least three enablers reported significantly higher project performance rates. However, those that do not offer any enablers were more likely to experience scope creep challenges and increase budget losses on failed projects.

In India, the survey found that, 54% of organizations support changing ways of working using coaching and mentoring. 58% of organizations support changes to ways of working through training. This is above the global percentage of 48% and 47% respectively. And 45% of organizations support changing ways of working through the creation of communities of practice that enable employees to share knowledge and expertise.  

Choosing the Right Project Management Approach is Table Stakes

Another theme the research identified is the rise in hybrid management frameworks, and how they have gained more ground across all sectors and types of projects. Since 2020, there has been a 57.5% increase of survey respondents reportedly using hybrid approaches. Overall, these growth trends toward using hybrid project management approaches are expected to continue, with 76% and 73% of our respondents expecting an increase in their organization’s usage of agile and hybrid approaches, respectively, over the next five years. In India, 87% of organizations anticipate an increase in hybrid project management approaches over the next 5 years which is even higher than the global percentage.

Its growing popularity demonstrates that organizations see the advantages of using different approaches and of combining practices, tools, and techniques to get the job done. And since average project performance remains relatively uniform regardless of the adopted approach, this validates that organizations should branch out when considering what skills development opportunities to offer individuals and teams.

To learn more about the future of project work, read the full report here.

About Project Management Institute (PMI) 
PMI is the leading authority in project management, committed to advancing the project management profession to positively impact project success. We empower professionals to excel in project management practices through our growing global community, knowledge sharing, and best-in-class certifications—driving positive change in organizations and communities. Since 1969, our unwavering mission has been to advocate for the profession by offering life-long learning and connections to sharpen high-demand skills. Today, PMI provides professionals at every stage of their career journey with the globally recognized standards, online courses, thought leadership, events, and tools they need to succeed. With more than 300 chapters around the world, PMI members can network, find mentors, access career opportunities, and learn from peers, working together to drive greater impact. 

Visit us at www.pmi.org, linkedin.com/company/projectmanagementinstitute, facebook.com/PMInstitute, and on X @PMInstitute. 

 

PMI Trademarks: Project Management Institute, PMI, and Pulse of the Profession are registered trademarks of Project Management Institute, Inc. in the U.S. and/or in other countries.

 

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Positive Perception of Term “All-Electric Home” Increases 12 Percentage Points in Recent Years, E Source Survey Finds

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November 14, 2024

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Research from the utilities-focused research, consulting, and data science company shows positive shift in homeowner perceptions of electrification technologies, though cost remains a barrier to fuel-switching. 

BOULDER, Colo., Nov. 14, 2024 /PRNewswire/ — E Source, a utilities-focused consulting, research, and data science company, has shared the results of its 2024 Residential Electrification Survey, including a shift in consumer attitudes toward electrification technologies in residential settings. The independent study, first conducted in 2021, fielded in April 2024 with over 10,000 residential homeowner utility customers in the United States and Canada.  

Designed and administered by the E Source Market Research team, the survey offers findings around: 

Consumer perceptions of electrification technologies: Over three-quarters of respondents believe that electricity is a safer home and appliance fuel source than natural gas, an increase from 2021. Despite shifting perceptions, cost remains a barrier to fuel-switching.Current ownership of electrification equipment: More respondents say they own electric equipment in 2024 compared to 2021, with electric cooktops and smart thermostats reported as the most common electric appliances.Readiness for adoption: While many respondents said they were unlikely to switch fuel sources for most home equipment, 27% expressed interest in taking steps to electrify all their appliances.

In other notable findings, positive perception of the term “all-electric home” increased from 40% in 2021 to 51% in 2024. Additionally, over one-third of respondents would prefer homes with only electric appliances when choosing their next residence, with 63% stating that gas appliances contribute to indoor air pollution, an increase from 51% in 2021.  

However, despite the growing interest in electrification, cost remains the largest barrier to fuel-switching, with 76% of respondents believing that switching fuel sources of any kind in their home appliances would be costly. 

Utilities today are navigating fast-paced technological advancements, transitioning to cleaner energy sources, managing tighter budgets, and looking to meet heightened customer expectations. A systematic and targeted approach to electrification is central to successfully addressing these challenges.

“Electrification holds tremendous potential along with risks. Utilities can realize that potential and mitigate the risks by understanding how to best engage their customers in the energy transition. With in-depth market research like our Residential Electrification Survey, utilities can understand perceptions of electrification to promote the value of new technologies based on customer needs, beliefs, and behaviors,” said Filomena Gogel, President of research and advisory at E Source.  

An overview of the insights is publicly available in a downloadable eBook here. Detailed findings are available in an industry report for members of the Distributed Energy Resource (DER) Strategy Service offered by E Source. 

About E Source 
E Source combines industry-leading research, data science, and consulting to help utilities make and implement better data-driven decisions that positively impact their customers, their bottom line, and our planet. Headquartered in Boulder, Colorado, E Source has teams across the US and Canada. Learn more at www.esource.com.

Media Contact:  
Adarsh Nalam, Director, Solutions Marketing and Communications  
adarsh_nalam@esource.com

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SOURCE E Source Companies LLC

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Ironclad Launches Jurist: an AI-Powered Assistant That Shows its Work

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55 seconds ago

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November 14, 2024

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The conversational AI assistant utilizes purpose-built multi-agent technology that works together to automate legal work, giving legal professionals a singular place to work with all the right tools and information in one seamless experience

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Ironclad, the leading digital contracting platform for modern businesses, today announced the public launch of a new conversational AI legal assistant, Ironclad Jurist. Jurist allows legal professionals to draft, edit, review, summarize, translate, and answer questions related to modern contracting. Jurist is the only AI-powered assistant purpose-built for lawyers that lets users create and iterate on any legal document with past company precedent, benchmarks, and real-time changes in the legal space—all in an online, fully editable .docx workspace.

Jurist, built on Ironclad’s open-source visual programming platform Rivet, offers users unprecedented transparency into AI decision-making within a contract by displaying agent actions and reasoning, complete with citations in its online research mode. Leveraging industry-leading prompt routing, specialized legal prompt engineering, and a sophisticated retrieval automation generation (RAG) approach that harnesses multiple top-tier LLMs, Jurist is transforming the landscape of AI-assisted legal work.

“Jurist has already eliminated hours of manual review from our document review process. Its intuitive interface lets us easily define our own parameters, transforming tasks like NDA reviews into a streamlined workflow,” said Katelyn Canning, Director and Head of Legal at Ocrolus. “What truly sets it apart is its ability to select the most appropriate AI model for each task behind the scenes, delivering useful results without requiring us to craft intricate prompts. This combination of power and simplicity has made it an indispensable tool for our legal team.”

After a rigorous five-month beta, which included in-house legal teams at companies like Ocrolus and Signifyd, and leading law firms including Gunderson Dettmer, Jurist is now generally available. With Ironclad Jurist, users can:

Perform legal work in one central place: Jurist provides a new surface for lawyers to work with, iterate, draft, edit, research, and ask questions, all within a single environment. Users can directly edit AI outputs—and write prompts for specific sections of documents to fine-tune contract language—in a native .docx editor.Personalize AI outputs with past documents: Jurist produces personalized drafts, reviews, and edits based on the context users provide, including templates and executed agreements.Access the latest legal knowledge from verified online sources: Users can stay current with the ever-evolving legal landscape from the most reputable online legal research sources.Verify actions taken by your team of agents: Jurist explains its decisions in real time and cites sources when answering prompts, empowering users to use what they create with confidence.Work in a responsible, privacy-forward environment: Jurist does not allow companies like OpenAI or Google to retain or train on customer data. Ironclad provides customers with complete enterprise-grade security and holds numerous certifications, including several ISOs. Ironclad is also compliant with GDPR, HIPAA, and the SOC 2 Type II Security Trust Criteria. To learn more about Ironclad’s security certifications, click here.

“Legal is the perfect application for LLMs, because LLMs are exceptionally good at working with unstructured data – which is the lion’s share of the types of documents lawyers work with,” said Ironclad Chief Product Officer Michel Feaster. “We built Jurist to help bridge this gap, and wanted to create something that was congruent with the ways that lawyers are already working. Lawyers need to be able to edit in real-time in one place, or be able to ask questions about specific parts of a contract, or compare and edit groups of documents at the same time. And because Ironclad has been building technology for lawyers and optimizing contracts for 10 years, our AI agents are fine tuned to be best in class at legal editing.”

“Using Jurist has helped give us a singular workplace to drastically speed up many kinds of legal work,” said Zuhair Saadat, Contracts Manager at Signifyd. “For example, performing an MNDA review or drafting custom clauses for an order form typically takes an hour to a day. Using Jurist, we could do this in minutes—in some cases seconds—depending on complexity. If I need to edit the output, translate it, or ask a question about it, I can do that right in the product without leaving. It reduces time spent on these kinds of tasks, saves money on attorney fees, and gives me a leg up. Whatever I’m doing, I never have to start from scratch.”

“We’ve released Jurist as a standalone product, built on Ironclad architecture, because we feel this will benefit the entire legal community—whether they already use Ironclad or not,” said Ironclad President Jeremy Smith. “We are committed to enabling legal teams with the products they need to drive tangible business impact, and we believe Jurist will make a lasting impact on the future of the legal field.”

To learn more about Jurist and try it for yourself, click here.

About Ironclad
Ironclad is the #1 contract lifecycle management platform for innovative companies, powering billions of contracts every year. L’Oréal, OpenAI, and other leading innovators use Ironclad to collaborate and negotiate on contracts, accelerate contracting while maintaining compliance, and turn contracts into critical carriers of operational business intelligence. It’s the only platform flexible enough to handle every type of contract workflow, whether a sales agreement, an HR agreement or a complex NDA. The company is backed by leading investors like Accel, Sequoia, Franklin Templeton, Y Combinator, and BOND. For more information, visit www.ironcladapp.com or follow us on LinkedIn and X.

Media Contact:
Paul Chalker
paul.chalker@ironcladhq.com

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SOURCE Ironclad Inc.

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Tom Atchison Honored as a Most Admired CEO by Denver Business Journal

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November 14, 2024

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GREENWOOD VILLAGE, Colo., Nov. 14, 2024 /PRNewswire/ — National Corporate Housing is thrilled to announce that Tom Atchison, our esteemed Founder and Chief Executive Officer, has been honored with the Most Admired CEO Award by the Denver Business Journal. This prestigious award recognizes leaders in the Denver area who demonstrate exceptional leadership, vision, and community impact within their industries and beyond.

Under Tom’s visionary leadership, National Corporate Housing has achieved significant growth and success while maintaining a strong commitment to ethical business practices and a people-first culture. He has fostered an environment that prioritizes employee development, customer satisfaction, and industry-leading service.

“Tom exemplifies the highest standards of leadership, integrity, and Surprisingly Superior Service,” said Misty Gregarek, President of National Corporate Housing. “Part of what makes National so special is Tom’s incredible talent for identifying potential in people and providing them opportunities to excel. This recognition is a testament to his unwavering dedication to our company’s mission and to making a positive impact on our employees, customers, and the community.”

Tom was recognized along with 20 other executives Wednesday night at an award dinner at the Ritz Carlton in Denver. We congratulate Tom on this well-deserved honor and look forward to continued success under his exceptional leadership.

For media inquiries, please contact:
Heidi Hume, Vice President, Marketing
703-727-9124 | hhume@nationalcorporatehousing.com

About National Corporate Housing: At National, we turn complex temporary housing challenges into seamless solutions. As a global leader in customized corporate housing since 1999, we provide personalized, 360-degree services that ensure your employees feel at home, wherever they are in the world. With our extensive network and local expertise, we make the unfamiliar comfortable, delivering exceptional experiences that transform clients into lifelong partners.

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SOURCE NATIONAL CORPORATE HOUSING

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