The Brexit Effect—Deal With It
PMI EMEA Congress 2017
Categories: PMI EMEA Congress 2017
by Cyndee Miller
PMI brought back its 21st century spin on the salon at this year’s EMEA congress. This time around, the panel talked turbulence and uncertainty—political shifts, workforce demands and the risks of global conflicts.
So, yeah, really not all that different from the stuff they covered in the grand salons of the 17th and 18th century France and Italy. Plus ça change and all that …
These days, we’ve got Brexit, U.S. President Trump and a whole cast of other political characters shaking up the status quo.
It’s hard to escape the feeling of uncertainty.
For pharma giant AstraZeneca, the shifting landscape spurred a move to niche medicines and away from the blockbuster drugs they built their name on.
Managing that kind of change—especially in such a large company—requires a strong communication plan to ensure buy-in across the enterprise. “There is an important element in big complex organizations that you have a common goal and a common understanding of why you need to change,” said salonnier Maria Hedwall, PMP, of AstraZeneca.
“It takes quite some time to cascade change announcements throughout the organization, by the time it gets to the bottom of the organization, management is ready to change again,” she said.
In times of great change, all organizations must be prepared to respond—and respond quickly. For Clare Savage of Deutsche Bank, that has meant raising the profile of project managers.
“Project managers are right in the thick of it but they are very seldom the decision makers,” said Ms. Savage. So she’s created a framework that allows project professionals to stick their neck out, take charge of an effort and make the necessary assumptions as part of the decision-making process—without having to worry that said neck would get chopped off if things don’t work out as expected. The blame game, in essence, is over.
She’s also putting a priority on answering the “why” question. “One of the things we’ve been doing with the more junior project personnel is [ensuring] they understand the true value of the why of the project they are delivering,” says Ms. Savage.
In such a chaotic environment, the company cultures that get it right are the ones that encourage innovation, said Gabor George Burt. “Once people are freed up to be creative they can deal with change.
Moderated by PMI’s Murat Bicak, the salon pulled back the curtain on how companies are dealing with Brexit and the onslaught of other changes. It was a good discussion, although for what it’s worth, I think we need fancier clothes and maybe a nice aria or two if we’re going to have a proper salon.
What’s happening at your organizations? How are you dealing with Brexit and all the other shifts?