A sea captain needn’t be a meteorologist to lead his or her crew through a storm. As a project leader or project manager, you may not be an economist, but you must prepare to deal with the consequences of an economic downturn on your projects.
Some of us (those with greyer hair or grown children) have been through this before. Our experiences with projects in the 80’s, 90’s, 2001-2003, and 2008 help us know some of what our projects can expect as the economy slows. History tells us organizations that respond quickly and adeptly are more likely to survive and prosper than those that ignore the problem or deny it until it is too late.
Costs increase. Revenue slows. Profits dwindle. Money available for discretionary spending drops. In the public sector, tax revenues drop, squeezing budgets. Executives in your organization will be under increasing pressure to reduce spending. Some organizations will deal with this more thoughtfully than others.
Inexperienced or poorly managed organizations will implement “across the board budget cuts”, threatening the viability of mission critical efforts as well as nice-to-have projects without regard for the risks, rewards, or operational priorities of the organization.
WHY SHOULD YOU ATTEND?
This prepares project managers and sponsoring executives for some of the project challenges to be expected during tight fiscal times.
Economic conditions rise and fall. Wherever they find themselves in the economic cycle, good project managers should prepare for downturns and changes in budgeting priorities if they want to deliver best value and be successful in their careers.
LEARNING OBJECTIVES
- What steps can you take to prepare for leaner budgets?
- What challenges can you anticipate when budgets get tight?
- What opportunities might present themselves?
- What risks should be re-considered?
- What additional demands can be expected of project managers and project sponsors when budgets are tight?
- How can you prepare senior executives for difficult decisions they may soon face about which projects live, which projects die, and which are delayed?
WHO WILL BENEFIT?
- Project managers and executives who sponsor projects
This prepares project managers and sponsoring executives for some of the project challenges to be expected during tight fiscal times.
Economic conditions rise and fall. Wherever they find themselves in the economic cycle, good project managers should prepare for downturns and changes in budgeting priorities if they want to deliver best value and be successful in their careers.
- What steps can you take to prepare for leaner budgets?
- What challenges can you anticipate when budgets get tight?
- What opportunities might present themselves?
- What risks should be re-considered?
- What additional demands can be expected of project managers and project sponsors when budgets are tight?
- How can you prepare senior executives for difficult decisions they may soon face about which projects live, which projects die, and which are delayed?
- Project managers and executives who sponsor projects
Speaker Profile
Payson Hall is a project management consultant who has worked in Information Technology for over 40 years. He has managed projects, reviewed projects, taught project management, and coached project managers while running a small business through a series of economic downturns. His passion is sharing the lessons he has learned so that others can avoid the mistakes that he has made and observed others making, freeing them up to make new and more creative mistakes of their own.
Upcoming Webinars
From Challenges to Compliance: Understanding Dietary Supple…
How To Conduct An Internal Harassment And Bullying Investig…
Improving Employee Engagement & Retention Through Stay Inte…
Using Behavior Based Interviewing for Finding the Best Matc…
Leadership: Strategic Planning and Decision Making
The Anti-Kickback Statute: Enforcement and Recent Updates
Do's and Don'ts of Documenting Employee Behaviour, Performa…
De-Stressing Your Leadership for Greater Impact
Emotional Intelligence: Mastering the Emotions of Great Lea…
Bootcamp for New Managers and Supervisors: Avoid These 7 Mi…
How to Conduct Exit Interviews - Implementing and Enhancing…
Coming Soon - New Minimum Salary Levels for Exempt Employee…
Utilizing HR Metrics to Illustrate & Improve Human Resource…
Pivot tables beginner to advanced + 20 advanced Pivot table…
Finance & Accounting 101 Simplified
Understanding How To Write A Compliant CAPAs
Mastering the Candidate Experience in Talent Acquisition.
4-Hour Virtual Seminar on Transformational Leadership - The…
Uplifting the Credibility of HR: How to Build the Credibili…
Treasury Risk Management, Funding, Liquidity, Interest Rate…
Courts No Longer Have to Give Deference to Agency’s “Expert…
21 CFR Part 820 - Quality System Regulation - Applying Prin…
Building Fair Chance Hiring Policies in 2024
HIPAA Bootcamp for Health Care Providers, Professionals, an…
Building GMP Excellence: A Guide to Implementing Compliant …
FDA Technology Modernization Action Plan (TMAP) and Impact …
Weathering the Storm: Navigating Resource Constrained Waters
How to Survive an Emotionally Toxic Workplace
21 CFR Part 11 - Compliance for Electronic Records and Sign…
Excel Power Skills: Master Functions, Formulas, and Macros …
How to Give Corrective Feedback: The CARE Model - Eliminati…
SOPs - How to Write Them to Satisfy those Inspectors
2-Hour Virtual Seminar on the 6 Most Common Problems in FDA…
Understanding the Artificial Intelligence Landscape
Employee Handbook Requirements for 2024. Includes Updated F…
Essential Job Functions According to the American with Disa…
Stay Interviews: A Powerful and Low-Cost Employee Engagemen…
FDA Audit Best Practices - Do's and Don'ts
Engineering Change Management (ECM)
Batch Record Review and Product Release
Workplace Investigations 101: How to Conduct your Investiga…