Pivoting With Intent
From the Voices on Project Management Blog
by Cameron McGaughy,
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Date

by Wanda Curlee
Saying COVID has changed the way we do business is an understatement. Some companies accelerated their projects, pivoting to quickly to support clientele. Others had to overhaul processes because of virtual or hybrid working environments. One thing was certain: Standing idle in the face of uncertainty was not an option—and that has translated to big changes to how portfolios are managed.
Some projects or programs may have to be canceled or moved in the sequence or scope deleted. Any of these in a typical environment may be useful—but during COVID, that could be the end of a company or cause a severe financial burden. When projects and programs remain unfinished, the company’s goals aren’t met. Not meeting the company’s strategic objectives may mean the company gets beat in the marketplace or that they don’t have a new product to introduce or that they can’t meet an internal need. And the list goes on.
Restaurants, service companies, construction companies and many others impacted by COVID had to move quickly. Leadership and portfolio managers had to shift with the changing economy. Those that pivoted with intent by thinking of alternate ways to move the company had a better chance of surviving. Within the restaurant sector, some establishments leaned into personal catering more, for example, while others sold off their meats and vegetables along with seasonings to locals as family dinner kits.
Some portfolios went into overdrive to meet demands. The ones that come to mind in the U.S. are large retailers, supermarkets and fast-food companies. They were all considered essential. However, they also had to pivot. They designated shopping times for the elderly and those with medical conditions, for example. And many large retailers rolled out a variety of options for customers to get their merchandise: same-day delivery, curbside pickup and parking lot deliveries.
Leaders in many companies believe the world will go back to business as usual after getting to herd immunity via the vaccine. While I expect a sense of normalcy to emerge at some point, I don’t believe we’ll ever return to where we were before the pandemic. Even as the business landscape stabilizes, portfolios will still have to pivot quickly. It may not be a pandemic, but there could be a shift in the economy, politics or industry. Now more than ever, you must document the successes and failures within your portfolio—and use the information the next time you need to pivot.
What are some lessons learned you’ve gathered about managing a portfolio amid such uncertainty?
Posted
by
Wanda Curlee
on: March 01, 2021 12:36 PM |
Permalink
Comments (6)
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Luis Branco
CEO| Business Insight, Consultores de Gestão, Ldª
Carcavelos, Lisboa, Portugal
Dear Wanda.
Very interesting this topic that brought for reflection and debate
Thanks for sharing
With the approach: "crisis is nothing more than a set of new opportunities", with a lot of creativity (using all and one of the known techniques and tools), with persistence and using Thomas Edison's thought as a reference: "I have not I've just found 10,000 ways that won't work ", that is, by trial and error the human being is able to do unimaginable things
Nice piece of article, i am totally agree with Luis, and there will be new opportunities during crisis.
Wanda Curlee
Dr. Wanda Curlee| PMI
Ferguson, NC, United States
Hello Luis - Crisis does help us be creative, but employees at times, in the US, have had creativity and innovation dampened. It can be due to a manager that is too scared to challenge the status quo. Or the individual has been shot down so many times they have given up. New ideas should always be taken seriously no matter how strange they may seem. Sure, there are times the new ideas are not supportable but ideas that are innovative and creative should always be hear.
Wanda Curlee
Dr. Wanda Curlee| PMI
Ferguson, NC, United States
Hello Ahmad - Those that see the crisis as an opportunity will survive better than those that see it as being beaten down by life!
Paphatpisit Klinklan
Regional Sourcing and Operation Manager| Krones (Thailand) Co., Ltd
Samutprakan, Thailand
Kwiyuh Michael Wepngong
Community Champion
Financial Management Specialist | US Peace Corps
Yaounde, Centre, Cameroon
Hi Wanda,
Innovation in this season is inevitable
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