Project Management: Master the Restart

Many projects delayed by a sour economy will eventually bubble back to the surface. The landscape may have changed drastically since shelving the project, so a thorough reassessment of the project’s parameters is in order.

Objectives

Don’t assume your original objectives are still valid. Changes in organizational structure, headcount, locations, collaborators, competitors and market all have the potential to affect your objective picture. Examine each target against today’s needs, and adjust accordingly.

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Project Management in a Down Economy

Each year, companies execute projects for the purpose of improving their bottom-line and expanding their competitive advantage. The difference between success and failure often depends on how committed organizations are in utilizing project management to monitor and control schedule delays. Schedule delays are the villain in project management and are the biggest cause of budget overruns, missed deadlines, and poor quality. During good economic times, investing in project management is financially feasible and acceptable by most companies. However, during bad economic times, project management is considered an overhead cost and the tendency is to downsize. This paper discusses the importance of investing in project management to mitigate the impact of schedule delays in good and more importantly during bad economic times.

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