Technology

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

Published

10 months ago

March 4, 2024

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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Technology

First Resonance Secures Major Investment to Drive Digital Manufacturing with ION Factory OS

Published

22 minutes ago

December 23, 2024

Company Launches ION Marketplace for Application Developers and Integration Partners

LOS ANGELES, Dec. 23, 2024 /PRNewswire/ — First Resonance, a leader in digital manufacturing solutions, announced the successful close of its latest funding round, led by Third Prime, with support from Craft Ventures, Blue Bear Capital, and E12. This investment, which brings total funding raised to $32M, marks a critical step in advancing First Resonance’s ION Factory OS platform, introducing new levels of efficiency, responsiveness, and sustainability to manufacturing. The funding will fuel product development, expand customer support, and launch the ION Marketplace — a dynamic ecosystem for application developers and integration partners to build digital solutions on ION Factory OS.

Customer Success and Industry Traction

First Resonance’s ION Factory OS platform has seen rapid adoption across diverse industries as manufacturers turn to the platform to meet modern production demands with precision and agility. The platform is a critical enabler for leading companies building advanced aircraft, advancing towards FAA certification of electric aircraft; Saronic, innovating autonomous modular boats to support America’s evolving maritime needs; and Radiant Nuclear, designing and certifying micro-nuclear reactors to address defense and civilian energy requirements. First Resonance has also partnered with established firms like Blue Canyon Technologies (RTX Corporation) and several other Fortune 500 companies seeking to elevate their manufacturing capabilities through digital solutions.

“We are proud to partner with pioneering manufacturers to help drive the future of digital manufacturing,” said Karan Talati, CEO of First Resonance. “ION Factory OS is enabling our partners to tackle complex challenges with agility and digital intelligence. Our platform isn’t just technology; it’s a tool for industry resilience, leadership, and transformation to address today’s most critical societal challenges.”

Market Tailwinds and the Imperative for Digital Transformation

The industrial landscape is at a pivotal juncture, with rising labor costs, increasing global competition, and the need for resilience underscoring the importance of digitization. As initiatives like the Inflation Reduction Act (IRA) and U.S. defense procurement priorities prompt a shift towards more agile, adaptable manufacturing, First Resonance is poised to meet these demands with solutions that accelerate automation and increase productivity.

Mr. Talati continued, “When we founded First Resonance in 2019, we anticipated the demand for more responsive, tech-enabled manufacturing. This vision is now a reality, validated by market trends and increasing customer demand across sectors.”

New Investment to Accelerate Digital Manufacturing

This recent funding round, led by Third Prime, reflects growing investor confidence in the future of manufacturing technology and the ION Factory OS platform. With participation from existing investors Craft Ventures and Blue Bear Capital, along with new investors Fortitude, Emerson Ventures, and E12, the investment underscores the venture community’s commitment to innovation in manufacturing and its potential for transformative impact.

“First Resonance’s track record of rapid customer adoption and their forward-thinking approach in launching the ION Marketplace position them as a leader at the forefront of the digital manufacturing revolution. We believe in their vision to bridge traditional manufacturing with cutting-edge technology and their unique market approach in helping companies tackle national security and the energy transition,” said Third Prime General Partner Mike Kim.

The Horizon: Introducing ION Marketplace and AI-Driven Manufacturing Workflows

First Resonance is further expanding its network of integration partners to bring digital solutions to a broader set of manufacturers, connecting the industrial base with the transformative capabilities of ION Factory OS.

With the ION Marketplace, First Resonance is establishing a hub for developers, systems integrators, and software partners to create tailored applications that enhance manufacturing operations. The marketplace will empower manufacturers to customize their digital capabilities, aligning them with specific industry needs and operational goals. Launch partners such as Silkline, Hadrian, and Duro already offer innovative solutions on the ION Factory platform, and the ION Marketplace ecosystem is open to additional developers. Application developers and integration partners are invited to sign up to list their solutions on the ION Marketplace starting today.

“Our initial launch partners and the success our customers are experiencing with their solutions validate our approach in opening up the ION Marketplace to more integration partners, as well as developers who want to build solutions for manufacturers using the data on the ION platform, providing a streamlined UX for the end-customer,” said First Resonance’s Head of Product, Manav Sanghvi.

Additionally, First Resonance is accelerating its development of AI-driven manufacturing workflows, providing customers with proactive, integrated AI capabilities that streamline operations and reduce redundant tasks. Unlike standalone AI models, First Resonance’s approach embeds intelligent automation into day-to-day workflows, enhancing productivity and responsiveness.

“AI for manufacturing goes beyond isolated models—it’s about embedding intelligence into workflows that advance operations seamlessly,” Mr. Talati noted. “With secure, proactive AI workflows, First Resonance is leading the transformation of the manufacturing industry.”

This funding will enable First Resonance to deepen customer support and enhance platform reliability while fueling continued product innovation.

About First Resonance

Founded in 2019, First Resonance is redefining manufacturing for the 21st century with ION Factory OS, a platform that enables global manufacturers to operate with agility, efficiency, and digital intelligence. Supporting over 50 manufacturers globally, the ION Factory OS empowers manufacturers across aviation, defense, energy, and more. With support from its investors and integration partners, First Resonance is committed to shaping the future of manufacturing technology and driving a safer, more sustainable industrial landscape.

For more information and to explore the ION Marketplace, please visit https://www.firstresonance.io/.

For press inquiries please contact: press@firstresonance.io

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SOURCE First Resonance

Technology

Cineverse Launches Verse Karaoke

Published

22 minutes ago

December 23, 2024

First Available on Smart TVs, New Experiential and Interactive Music Service Brings A Fresh Approach to Karaoke at Home

LOS ANGELES, Dec. 23, 2024 /PRNewswire/ — Cineverse (NASDAQ: CNVS), a next-gen entertainment studio, today announces the launch of an innovative, new connected TV app powered by the Company’s industry-leading Matchpoint™ technology – Verse Karaoke. The app caters to fans of all genres of music and is launching first as a free ad-supported video-on-demand (AVOD) app on Smart TVs. The service will also be available on the web at www.versekaraoke.com and additional distribution will be announced in the coming months.

Verse Karaoke is designed to be an interactive, musical experience that brings the fun karaoke experience into living rooms. Verse Karaoke combines the power of a professional Karaoke machine with Matchpoint, Cineverse’s proprietary streaming technology. Verse enhances the traditional karaoke experience by integrating Smart TV functionality and leverages Matchpoint’s robust personalization capabilities for a more engaging and user-friendly experience. While one participant sings, others can seamlessly browse and search the extensive karaoke catalog by scanning a QR code with a smartphone. Additionally, Verse provides access to full song lyrics for all tracks, allowing participants to review and rehearse songs beforehand. The app also features improved song lyric video playback to offer a much more engaging full-screen video experience.

In partnership with Digitrax Entertainment, Inc., a leading producer of music for karaoke, the Verse Karaoke app includes access to decades of fully licensed hit songs in nearly every genre with new songs added weekly.

“Although karaoke apps have been available for decades, nobody has truly optimized the karaoke experience to suit the capabilities of today’s Smart TVs. Music is a popular form of family entertainment, so it was important for to us to improve the home karaoke experience by utilizing the advanced technology available to us,” said Tony Huidor, Chief Operating Officer & Chief Technology Officer of Cineverse. “We have expanded the capabilities of our Matchpoint Blueprint platform to bring an improved karaoke experience to market as we look to redefine how music fans interact with karaoke music in their homes and autos.”

“Having been immersed in the karaoke industry since 1987 and with over 30 years of experience recording karaoke tracks, I can confidently say that Verse Karaoke is the most innovative and exciting development I’ve ever witnessed in the industry,” stated Joe Vangieri CEO of DigiTrax Entertainment.

ABOUT CINEVERSE

On a mission to uplift storytellers and entertain fans with the power of technology, Cineverse (NASDAQ: CNVS) distributes over 71,000 premium films, series, and podcasts. Engaging over 150 million unique monthly users, Cineverse delivers more than one billion minutes of curated content each month – connecting fans with stories that resonate.

With properties like the box office sensation, Terrifier 3, iconic horror destination, Bloody Disgusting, the Bob Ross Channel, women’s entertainment channel Dove, and a leading podcast network, Cineverse is the first stop for audiences seeking authentic and experiential content. From a vibrant lineup of titles and fandom channels, to next-gen advertising offerings and streaming solutions, Cineverse is setting the stage for a new era of entertainment.

For more information, visit home.cineverse.com.

ABOUT DIGITRAX ENTERTAINMENT, INC.

DigiTrax Entertainment is a leading music production company with over 30 years of experience in the industry. Dedicated to delivering high-quality entertainment solutions, the company utilizes advanced technology to enhance singing experiences for audiences worldwide.

Press Contacts:

Cineverse

For Media
The Lippin Group, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

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SOURCE Cineverse Corp.

Technology

LINDA YACCARINO, CEO OF X CORP, TO KEYNOTE CES 2025

Published

22 minutes ago

December 23, 2024

ARLINGTON, Va., Dec. 23, 2024 /PRNewswire/ — The Consumer Technology Association (CTA)® welcomes Linda Yaccarino, CEO, X Corp, the world’s largest online news and social networking site, as a keynote speaker at CES® 2025. Yaccarino will join Emmy Award-winning investigative journalist Catherine Herridge in a keynote conversation on Tuesday, January 7, at 1:30 PM in the Palazzo Ballroom at the Venetian.

A transformative leader and visionary, Yaccarino is making waves as CEO of X Corp, where she is at the forefront of defining the future of digital communication. Under her leadership, X evolved into a dynamic platform fostering global conversations and innovative solutions for brands, creators, and communities alike.

“X is the global newsroom in your pocket. It’s the only real place for free dialogue between everyone–the public and the powerful,” said Yaccarino. “CES is the perfect place to share how we’re completely reshaping the entire ecosystem.”

“Linda’s career exemplifies the spirit of CES—innovation, resilience, and vision,” said Gary Shapiro, CEO, CTA. “Her leadership and contributions to the media and tech world makes her uniquely suited to inspire and challenge our audience to think boldly about the future.”

“Linda is a trailblazer and her keynote at CES 2025 will undoubtedly spark meaningful conversations about the evolving landscape of content creation, social platforms, and how technology empowers creators and communities to thrive,” said Kinsey Fabrizio, President, CTA.

Catherine Herridge will interview Yaccarino. Herridge, formerly with CBS News, is an independent journalist with a growing audience of more than 850,000 on X. She is a strong advocate for the First Amendment and a free press.

The keynote will be streamed on Live.CES.Tech, X, Facebook, YouTube, and LinkedIn.

X Corp joins Panasonic Holdings, NVIDIA, Accenture, Volvo Group, Delta, and Waymo on the CES 2025 Keynote lineup. Register now for CES 2025. Details and programming available at CES.tech.

About CES®:
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2025 takes place Jan. 7-10, 2025, in Las Vegas. Learn more at CES.tech and follow CES on social.

About Consumer Technology Association (CTA)®:
As North America’s largest technology trade association, CTA is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech.

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