A report from the Association of Project Management (APM) has shown that the project management profession has seen substantial growth in the UK.
The Golden Thread Report 2024, commissioned by APM and undertaken by PwC UK and published in April, finds that the sector contributes £186.8bn of GVA to the UK economy and the total FTEs working in the profession has grown to an estimated 2.32mn (2.13mn in 2019).
The professional and business services is the largest contributor to project management GVA and FTEs, representing a quarter of GVA (£47.9bn) and roughly a third of FTEs (709,301). Well-established project management sectors such as construction have also experienced growth.
The report also cites notable growth in less-established project management sectors, like information technology (IT), where GVA (£14.3bn) and FTEs (164,657) have more or less doubled since the last study in 2019.
Professor Adam Boddison OBE, chief executive of APM, said: “Our report deepens the view that our profession is the most vital ‘golden thread’ running through all sectors of the economy – driving quality, efficiency and strategic change.”
The report also shows that the profession’s outlook is optimistic. More than 50% of businesses surveyed say they expect an increase in the number of projects they undertake over the next three years – a significant increase in optimism compared to the landscape back in 2019.
Download the report here.
