The Golden Thread: The contribution of projects and project management to the UK economy
The Association for Project Management has worked with PwC to produce a ground-breaking piece of research entitled ‘The Golden Thread: The contribution of projects and project management to the UK economy’. This study explores and highlights how deeply the contribution of the project profession is woven into the fabric of society whilst demonstrating the size and extent of the project profession in the UK. in terms of people the profession employs (1 in 12, or 8% of the UK FTE) and in terms of financial value it contributes £156.5 billion of annual Gross Value Added (GVA) to the UK Economy. The research makes clear that the role of the project profession is currently a ‘hidden source’ in many business sectors, well overdue for recognition and the increased usage that could enable greater economic and societal success. The study further explores future challenges, including skills gaps along with the importance of professionalisation in terms of standards, qualifications and training.