Project Management in a Recession

There is an interesting article in CIO by Meridith Levinson titled ” Why Project and Portfolio Management Matter More in a Recession“.

IT departments scaling back on project work as the economy lurches toward a recession may be tempted to skimp on project management and portfolio management . But think twice: doing so could cost you far more–in projects gone awry and wasted resources.

In the artilce Meridith writes…

IT departments are scrapping projects in response to tightening budgets and the ever-deteriorating economy. But this is no time to cut back on project management or portfolio management, experts say.

High project failure means you’re wasting money, and there’s even less tolerance for that in a down economy,” says Margo Visitacion, a vice president with Forrester Research who covers project portfolio management and quality assurance.”

I would have to agree.  Skimping on Project Management and Project Management Training is a mistake in good times and can be catistrophic during a recession.  If anything, the need for Projects to be delivered on time and within budget is critical to a company’s performance.

Project costs for poorly managed projects can spin out of control quickly.  Project Management Training can be critical for the company.  Companies like RMC Project Management specialize in training Project Managers for eventual PMP certification, as do others.  Importantly in today’s environment it has become increasingly important for all team members to understand the Project Management principles, process, and methodology.  This is why RMC provides courses like “PM Crash Course”.  This is a one day course and is designed for all team members regardless of experience and role within the team.

It can be extremely benefitial to get everyone involved in Projects to understand and use the same terminology and methods.  This drives performance and accountability.

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