The transport sector of the project management profession has grown by a third in five years to contribute £4.73bn of annual gross value added (GVA) to the UK economy, according to a new report by the Association for Project Management (APM).
The Golden Thread Report 2024, commissioned by APM – the chartered membership organisation for the project profession – and conducted by PwC Research, follows a report in 2019 that assessed the UK project profession’s size as well as its economic and societal contribution.
Overall, the project management profession now contributes to the UK economy £186.8bn of GVA – a key measure of economic output and productivity – representing a growth of 19% from £156.5bn in 2019.
In addition, the profession now employs an estimated 2.32 million full-time equivalent workers (FTEs), with 8.5% of total UK FTEs employed in project-related roles and the profession delivering more than 9% of total UK GVA.
When broken down by individual sectors within the project management profession, the transport GVA stood at £4.73bn.
The rise of 33% from £3.56bn in 2019 was the fourth-highest increase out of all 18 sectors recorded in the 2024 report.
The research is based on official employment data, market statistics and a survey of more than 500 businesses.
According to APM, factors behind the growth highlighted by the report include an increasing recognition of the need for effective programme management and transformation across all sectors including transport.
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.
“This includes the transport sector within project management, which has seen a significant 33% rise in its UK GVA contribution in just five years.
“Our research is a vital contribution to the debate of the project profession as we seek to overcome a variety of challenges and opportunities and continue with our growth trajectory.”
Achievements and innovations in transport planning will be celebrated at the third annual CiTTi Awards, which will be held on 26 November 2024 at De Vere Grand Connaught Rooms in London. Nominations are open now! Please visit www.cittiawards.co.uk to learn more about this unmissable event for the UK’s transportation sector.
