Integrated Project Management 

Company, Inc.

With a current workforce of 182 employees in seven locations 

throughout the United States, Integrated Project Management 

Company, Inc. (IPM) is a privately held business consulting company, 

providing leadership to transform strategies and solutions into 

sustainable results. President and CEO C. Richard Panico founded 

IPM in 1988 as the first project management consulting firms in the 

United States. It helped evolve the discipline of project management 

while creating proprietary methodologies to supplement the practice. 

IPM offers specialized services in ten areas essential to its targeted 

industries, which are life sciences, consumer products, industrial 

products, and health care.

Relationship-Driven

• To achieve IPM’s Vision and reinforce a focus on collaboration 

and action, senior leaders engage the workforce through a formal, 

comprehensive survey to launch the annual Business Planning 

Process, which results in identifying imperatives, translating these 

to strategic initiatives, and then appropriately prioritizing these 

for action. Through an open-door policy and the Observations and 

Trends platform, employees are invited to share insights, trends, 

thoughts, and ideas year-round. 

• The Vision and Values are shared with the workforce through 

mechanisms identified in the Leadership Communication 

System and daily informal interactions with the Executive Team. 

Senior leaders and the entire management team emphasize 

a personal touch for nurturing relationships with key customer 

contacts. The CEO personally logged 321 contacts with customers 

in 2017. 

Financial Results

• IPM’s company-wide annual revenue has increased 62% from 

2013 to 2017. Annual revenues per consultant are 50% higher 

than the national comparison. 

• The current ratio, a liquidity ratio that measures a company’s ability 

to pay short- and long-term obligations, stands at 6.1 compared 

to the benchmark of 1.5. The debt-to-equity ratio has averaged 0.2 

for the last five years, outperforming the average benchmark of 2.2 

in the same timeframe.

• Earnings before interest, taxes, depreciation, and amortization 

(EBITDA) were 9.6% in FY2016, competitive with the 

benchmark at 9.1%. Super liquidity, an internal measure of the 

number of months the organization can cover normal operating 

expenses without any additional receivables or revenue, has been 

sustained at a level of over two months since 2012, with an 

increase in the annual average since 2014 of 26%.

2018 Award Recipient

Baldrige Performance Excellence Program • National Institute of Standards and Technology • Department of Commerce 

Highlights

• IPM’s company-wide annual revenue has increased 

62% from 2013 to 2017. Annual revenues per consultant 

are 50% higher than the national comparison. 

• The current ratio, a liquidity ratio that measures a 

company’s ability to pay short- and long-term obligations, 

stands at 6.1 compared to the benchmark of 1.5. 

The debt-to-equity ratio has averaged 0.2 for the last 

five years, outperforming the average benchmark 

of 2.2 in the same timeframe.

• IPM strives to balance building new business with 

outstanding customer retention. Existing client revenue 

has increased every year. In 2017, existing client revenue 

grew at a rate of 4.1%; at the same time new client 

revenues grew 22%.

• Employee satisfaction with training and development 

opportunities offered has surpassed the national Great Place 

to Work (GPTW) best-in-class every year since 2013, 

with a 93% satisfaction rate in in 2017.

 
2018 Award Recipient

Integrated Project Management Company, Inc. 

• Through strategy implementation, IPM has realized many strategic 

goals. For example, revenue in Life Sciences has grown nearly 

80% from FY2013 to FY2017; voluntary employee turnover 

decreased from 14% in FY2016 to 8.7% in FY2017; and revenue 

from new clients increased from 13% of total revenue in FY2016 

to 27.7% in FY2017, surpassing the goal of 18% in 2017.

Customer Process with Results

• IPM’s Net Promoter Score (NPS), a key metric of customer 

engagement, was 61 in 2017, exceeding the excellent benchmark 

of 50. (Disney, Sony, and Harley-Davidson have NPS scores of 50.) 

• IPM strives to balance building new business with outstanding 

customer retention. Existing client revenue has increased every 

year. In 2017, existing client revenue grew at a rate of 4.1%; at the 

same time, new client revenues grew 22%.

• On the Project Performance Evaluation, IPM scored a 9 out of 10 in 

overall customer satisfaction. IPM received scores of 8 or higher 

in six other key areas: leadership, schedule, scope, solutions, 

commitments, and risk. IPM averaged a 99% satisfaction rate in the 

most recent three calendar years. 

People Process with Results

• Employee satisfaction with training and development opportunities 

offered has surpassed the national Great Place to Work (GPTW) 

best-in-class benchmark every year since 2013, with a 93% 

satisfaction rate in in 2017. In 2016, employees averaged around 

56 hours of training per employee, exceeding the benchmark.

• Employee recognition of IPM as a great place to work stands at 

94%, which is within 2% of the GPTW best-in-class benchmark. 

The number of employees with over five years tenure increased 

from 29% in 2015 to 34% in 2018.

Strategic Planning

• Capitalizing on a disciplined approach to strategic planning, 

IPM systematically plans its business using the Observe-OrientDecide-Act (OODA) process. The two-year strategic plan is 

established for each even-numbered year (“Deep Dive Year”) and 

validated for each odd-numbered year (“Validation Year”). 

The strategic plan outlines strategic imperatives (objectives), 

strategic goals (two-year targets), and initiatives (action plans) for 

each imperative--all meant to guide and integrate with the 

2020/2025 Vision goals.

• IPM’s approach for allocating resources, which is aligned with 

the Business Planning Process, includes the use of sophisticated 

tools to perform a workload analysis as part of a gap assessment. 

Organizational initiatives are prioritized during the Business 

Planning Process, and progress is tracked on The Hub.

• An annual Corporate Resolution and multiple communication 

avenues are used to foster transparency on strategic plans, senior 

leaders’ actions, and fiscal accountability.

Process Efficiency/Effectiveness with Results

• From 2015 to 2017, the Bid-to-Win Ratio has consistently exceeded 

 the benchmark (in 2017, 6.5 vs 4.9). In addition, the Proposal 

Acceptance Rate at 65% in 2017 exceeds the average benchmark 

of 48% and places IPM above the 95th percentile. New business 

development volume (new client has consistently increased, over 

300% growth from 2013 to 2017.

• Key requirements and measures are linked to key work and support

 processes and distributed through the Executive Dashboard 

on The Hub. Leadership regularly reviews, discusses, and uses 

these metrics to control and improve processes to make sure they 

meet key requirements.

Citizenship with Results

• In 2017, IPM and its employees donated over $44,000 to Project 

Mercy, the company’s philanthropic arm that focuses on providing 

support to children, veterans, education, disease research, and 

the homeless within the areas where IPM employees work and live. 

Since Project Mercy started in 2007, employees have personally 

donated $130,000. Corporate and personal contributions combined 

have exceeded a quarter of a million dollars. In addition to Project 

Mercy volunteer hours, 95 employees currently volunteer with 

over 55 distinct organizations. IPM has provided pro-bono project 

management training for organizations such as the Make-A-Wish 

Foundation to help charities improve efficiency and reduce 

their overhead.

For more information:

Integrated Project Management Company, Inc.

Kathleen Gleeson, Marketing Manager

200 S. Frontage Rd.

Suite 220

Burr Ridge, IL 60527

United States

kgleeson@ipmcinc.com 

www.ipmcinc.com

Baldrige Performance Excellence Program

The Baldrige Program educates organizations of all sizes and 

from all sectors in organizational performance management and 

improvement. We also administer the Malcolm Baldrige National

Quality Award. Our key services are to identify and recognize 

role-model organizations, share best management practices, 

and help organizations achieve best-in-class performance levels.

We are the only public-private partnership and Presidential award 

program dedicated to improving U.S. organizations. 

For more information on the Baldrige Program: 

www.nist.gov/baldrige | 301-975-2036 | baldrige@nist.gov

Baldrige Performance Excellence Program • National Institute of Standards and Technology • Department of Commerce