Wild Card Contribution - PM 360 Consulting
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Wild Card Contribution

13 Jul Wild Card Contribution

Posted at 13:33h in PM Tip & Tricks! by
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Wild Card Contribution

PAST – NOW – FUTURE

Adapt or perish, now as ever, is natures inexorable imperative

– H.G. Wells, A Short History of the World (1922)

PAST

Black Swan or the New Normal?

While we continue to grasp the scale of this COVID-19 pandemic,

the new challenges we face point to more permanent changes we must make in our lives and how we do business. 

Conventional rules go out the window during such a crisis (Nassim Nicholas Taleb,2007).

  • Black Swan Event 1997: Asian Financial Crisis
  • Black Swan Event 2000: Dot-Com Crash
  • Black Swan Event 2001: Crash of 9/11 Attacks
  • Black Swan Event 2008: Global Financial Crisis
  • Black Swan Event 2009: European Sovereign Debt Crisis
  • Black Swan Event 2014: Crude Oil Crisis
  • Black Swan Event 2016: Brexit
  • Black Swan Event 2019: Global Covid-19

NOW

Project Management is about change management and as a project consultant working in today’s COVID-19 environment,

I have to be agile and adaptable in dealing with project business challenges, through the following process:

Evaluate All Projects 

Review of all projects. Some projects will have to be cancelled depending on finance,

risks and the current market environment and other projects will need a scope realignment.

Based on this analysis, we suggest changes to clients to make the projects viable for all concerned. 

Assessment of Risks

  • Risk exposure of the project organisation to COVID-19 pandemic and the fallout
  • Project percentages completed in terms of scope deliverables, deadlines and budget and contractual requirements
  • Risk exposure of key suppliers to COVID-19. This is crucial because the projects depend on the supply chain of materials from international countries
  • Financial risks, cash flow, delayed payments and client going out of business

 

Collaboration and Remote Working

Been agile and adaptable to keep the business going, promoting remote work and working throughout this crisis and beyond.

  • Remote-friendly communication tools
  • BYOD (Bring Your Own Device) policies
  • Collaboration tools

Project Leadership and Reassurance

The COVID-19 pandemic is putting pressure on business projects like nothing experienced in modern times.

The challenging environment, successful requires strong project management capabilities in times of crisis

and there are two directions human nature can take us: fear, helplessness and victimization or self-actualization and engagement.

On the latter, if the project leader has a clear path forward, will get buy in from employees through open communications, reassurance, trust, stability, empathy and hope for the future.

FUTURE

The COVID-19 pandemic has changed our world at rapid speed.

New ways of working that were waiting on the sidelines are suddenly now mainstream.

I firmly believe that the capabilities and skills of project management professionals

will be to the forefront in leading and directing the economic recovery over the coming months and years.

Future Trends

  • Importance of Change Management to Project Success
  • Strategic Project Business Management
  • Project Managers Will Need Broader Skills
  • Customised or Hybrid Project Management Approaches and Methodologies
  • Design Thinking and Creativity 
  • Artificial and Data Intelligence 
  • Globalised Gig Economy