Project Management during recessionary times
How do you handle Project Management during recessionary times? Historically, the Project Management required streamline cost-effectiveness methods to achieve the stated objectives of the project. Could reengineering business practices (RBP)in a traditional could be considered PM but how do you handle them during an economic downturns, are organizations less likely to begun new projects or just reengineer a current process?
Excellent question and the answer depends on the project. I don't think you'll find any consensus as there are also differences by industry. Obviously during a recession it is even more critical to be effective and create value for your customers so to your point RBP can be very helpful. It is a balance because you may only be able to reduce so much waste and improve time to market, etc. However, if you are talking about new value creation, new products and services, etc. those often require maintaining the project management focus.
Dr. Eric Goodman