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Project Management facing the financial crisis in 2008

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Whether its building new IT infrastructure, coordinating remote employee teams or delivering a new product line, companies understand that project management is mission critical to their success.


Smart, strategic organizations will realize that the down economy is the time to invest in project management training, best practices deployment in order to optimize performance. Organizations need to develop a talent management strategy incorporating recruiting and retaining talent to improve business performance. Keeping projects on track and on budget can counter ill effects of the down economy. The pressures for Project Managers to "get it done yesterday" are ever increasing, particularly with tightening budgets in the downward spiraling economy. Project managers need to be up to speed deploying best practices in their project selection, work more closely with the business, know when to say no to projects that won't deliver solid ROI and which to green light. They need to understand the business implications and what that means for projects, and how they can drive organizational change through effective project/project-portfolio management.

Below is a list that summarizes the top 10 Trends in Project Management in 2008 (developed by senior management and practitioners at ESI International).

  1.  Investment in PM Training to Counter Effects of Troubled Economy.
  2.  Better, Faster Project Decision-making.
  3.  Critical Thinking as a Key Project Management Competency.
  4.  Emerging Relevance of the Project Management Office.
  5.  Co-dependency between Project Management and Enterprise Analysis.
  6.  Project Managers Taking Leadership Roles in Organizational Change.
  7.  Communication Challenges of Remote Team Management.
  8.  Earning Project Management Certification.
  9.  Navigating the Overlap between Project Managers & Business Analyst  Tasks.
  10.  Talent Management Impact on Business ROI.



References:
Top Ten Trends in Project Management for 2008: ESI International: Diane Johnson
IT pros tackle economic crisis head-on: Denise Dubie

 

Read 5901 times Last modified on Wednesday, 17 December 2008 13:14
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