OREANDA-NEWS. February 27, 2012. PM Expert, a company of ARMADA Group (MICEX-RTS: ARMD) hereby announces that the Federal Agency for Technical Regulating and Metrology (Rosstandard) has approved a series of national project management standards [1]. Now all Group of Eight countries have adopted their national project management standards including Russia. The standards will take effect in Russian Federation as of September 1, 2012.

The adoption of national standards is an essential and necessary move, as shown by the experience of developed countries and certain problems in Russian project management. Uniform guidelines for project management will guarantee unified interpretation of project management rules and principles, goals and content of projects under implementation.

This measure will raise the efficiency of certain projects and the level of Russian project management as a whole,” PM Expert’s CEO Alexander Kutuzov, PMP, PME, commented.

The approved standards are applicable in any organization and to all kinds of projects, including state programs. Based on international experience, the cost of managing a project with a high share of capital expenditures (for example an investment and construction project) may amount to 4%-6% of the project’s budget, whereas the cost of managing a project with a higher share of operating costs (for example an IT project) could make up 10% or more.