Project Management

Please login or join to subscribe to this thread

Have you managed projects in companies during financial hardship times?

linkedin twitter facebook   Organizational Project Management  
avatar
Eduard Hernandez
Community Champion
Product Operations Program Manager Barcelona, Cataluña, Spain
Did it make any difference (with respect to a healthy organization)? Can you think of specific examples to illustrate your comments?
Sort By:
avatar
Luis Branco CEO| Business Insight, Consultores de Gestão, Ldª Carcavelos, Lisboa, Portugal
Dear Eduard
Interesting your question
Thanks for sharing

In difficult times (for example after the 2007 subprime crisis, which was reflected in the years to come), I had fewer projects to manage

In relation to the projects themselves, cost management must be rigorous and have the approved budget as a reference
avatar
Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
In LATAM we always be in "financial hardship times". In my case i manage programs/projects which components to different parts of the world then I have a mix inside. To survive we need to make the difference. The way I found is to find any opportunity to work smarted instead of working hard. I have to anticipate instead of react because the uncertainty. Thing that have happened to me: start with a budged, the goverment devualated the money during the project, the budged becomes 30%-50% lower. Country situation explode then people can not go to company to work then have to face this situation trying do not include in extra cost.
avatar
Kiron Bondale Retired | Mentor| Retired Welland, Ontario, Canada
Eduard -

Absolutely!

Two big differences were:

1. You always had to go into financial approval meetings with two plans in your pocket - the "as expected" one, and the "tighten the belt" one

2. All key decisions were scrutinized with a "cost-first" mentality, especially when looking at non-discretionary, non-profit generating projects.

Kiron
avatar
Abolfazl Yousefi Darestani Manager, Quality and Continuous Improvement| Hörmann-TNR Industrial Doors Newmarket, Ontario, Canada
Yes, I have.

agree with Kiron.
avatar
Gerardo Canavati IT Project Manager| Odevo Raleigh, NC, United States
Having worked for companies where they had me wearing 3 hats at the same time I can say that 50% of my career has been spent in PMO's that have me manage very limited budgets. In my case it made me grow as a Project Manager, Test lead, and a Business Analyst. Financial hardship makes us PM's go from carbon to diamonds.
avatar
Daire Guiney Dublin, Dublin, Ireland
Dear Eduard,

The roles of a project manager is to leverage and maximize the available resources to the project in order to deliver the project objectives and defined requirements.

If you are a project manager in a wealthy and cash rich organization or a project manager in a financial constraint organization, your approach, ethics, moral and overall demeanor should be no different.

During financial hardship times in an organisation, your job is about visibility and being seen. This is the time when projects get cancelled, indefinitely delayed or just fall off the radar so trying to be seeing to be doing something when there is not much going on is the daily nature of survival in those times and organizations.

Daire

Please login or join to reply

Content ID:
ADVERTISEMENTS

"No snowflake in an avalanche ever feels responsible."

- George Burns

ADVERTISEMENT

Sponsors