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Blog post 26 May 2014

Embedding Project Management into EU Regulations

Embedding Project Management into EU Regulations

Today’s economic pressures mean that professionalism in project management is an absolute necessity. Consequently, organisations need to assess the competence of the project professionals they deploy. Fulfilling this responsibility has got easier with the growth in Ireland of the universally accepted IPMA certification standard.

The European Union EU has approved regulations that increase the importance of applied project management skills as criteria for successful recipients of EU cohesion and structural funds. 

The regulations see projects, program and portfolio management skills as part of the solution to the challenge of authorities involved in managing programs but lacking the proper skills to get projects completed successfully.

The new rules, which govern the next round of EU cohesion policy investment for 2014 – 2020 support,  will make up to €366.8 billion to invest in Europe’s regions, cities, and the real economy (the part producing goods and services).

The purpose of the cohesion policy is to reduce disparities among the levels of development of the EU’s various regions by promoting economic growth, job creation and competitiveness.

The regulation describes the need for “building the capacity of local actors to develop and implement operations including fostering their project management capabilities.

EU member states are now moving to finalize their strategic plan with investment priorities for regional development following months of preparation. These partnership agreements are expected to be adopted in 2014.