Hello, this module focuses on how to manage projects in a complicated world. The world is changing rapidly and in unpredictable ways. Just consider the changes caused by new technology, worldwide trade and competition, social and political disturbances, and the environmental emergency.
You might think that project management has little to do with these major global matters. However, all kinds of organizations, whether large or small, are impacted by the world they operate in. How a company understands and responds to this complexity influences the projects it chooses to undertake and how it handles them.
This week, we begin by examining frameworks that help us grasp this intricate world. These frameworks guide our actions, responses, and decision-making in the face of complexity.
Next, we delve deeply into various methods and practices for managing projects when faced with uncertainty, instability, and change. These methods include linear approaches and life cycles, often known as the waterfall method, as well as iterative or agile approaches. You will explore the pros and cons of these methods, as well as the ongoing debates about them.
By the end, you’ll grasp how to use and blend these methods effectively to achieve successful project outcomes.
To start off this week, we’re interested in hearing about your experiences. Considering those major global issues like technology, competition, social and political changes, and environmental problems, think about how they impact your organization and the projects you’re involved in.
Feel free to share your experiences with fellow learners in the discussion.
As an entrepreneur competition is a good grounds for improvement, many social and political changes could affect the project positively or negatively depending on the major tasks at hand and technology is always a game changer that boosts productivity and communication whereas environmental factors can cause delay on the expected delivery time.
There is great effects of Technology on projects along-side global issues. Automation and digital advances are shifting the normal way of handling projects away to more sophisticated analytical, technical, and managerial skills. However, proper training and more collaborative skills have to be introduce to equip workers with skills that complement the new technologies.
Political, legal, institutional, cultural, sociological technological resource, economic, financial, and physical infrastructure are environmental factors that critically affects projects.
Below are skills and critical stakeholders to consider to have a successful projects even with this Big global issues
project manager’s competence, top management support, project manager’s coordinating and leadership skills, monitoring and feedback by the participants, decision-making, coordination among project participants, owners’ competence, social condition, economic condition among others
Thinking about all these big issues which I believe has affected my project as a sales person in one way or the other.
Competition is a good thing as it only push you to research( using SWOT Analysis) and come out strong.
Technology has a positive effect as it had make passing of information to customers easy. This have also reduced cost for many organization including mine.
Social and political change(using Nigeria as a case study) has made prices of product to be on the high side expectially after the removal of subsidy. Exchange rate is not left out.
In the construction industry where I work, Technology and Political Changes are critical factors when handling a project.
I have been able to come across various instances where these have impacted our projects negatively as well as positively.
Technology: Over time there have been inventions of various instruments which aids in measurements, taking levels and transferring levels across distances. As a Construction Project manager, knowledge of the use of these instruments has helped to foster ease of work, save project delivery time and also ensure quality control during construction which is a positive addition in the construction industry. Although, these technology isn’t new, it is a plus for a Construction PM to be abreast with the use of these instruments.
Political Changes: The recent shift in political power which has negatively impacted the economy of the nation is also one factor that’s necessary for consideration. This is due to the fact that prices of materials due to this change has increased which means there has to be a revisit to the budget of a project that probably started before this present political tenure.
As an entrepreneur, technology has changed the face of awareness creation in a positive way, making it easy for one to reach out to his customers.
*Competition only makes one stronger.
*Social and political change: currently in Nigeria, this have made prices of commodities to increase as a result of subsidy removal. Exchange rate is also not left out.
Environmental crises can’t also be over emphasized.
These big global issues can have significant impacts on our organization and projects in various ways:
1.Technology: Rapid advancements in technology can disrupt industries and business models. It is crucial to stay updated with technological trends to remain competitive and relevant. Integrating new technologies into your projects can enhance efficiency, productivity, and customer experience.
2.Competition: Globalization has increased competition across industries. Understanding your competitors’ strategies, market trends, and customer preferences is essential for developing effective projects. It is important to differentiate your organization and projects to stand out in a crowded marketplace.
3.Social and Political Change: Social and political changes, such as shifting demographics, cultural values, and government policies, can impact consumer behavior and market dynamics. Adapting your projects to align with changing societal expectations and complying with relevant regulations is crucial for success.
4.Environmental Crisis: The environmental crisis, including climate change and resource depletion, has led to increased awareness and demand for sustainable practices. Incorporating environmentally friendly initiatives into your projects can enhance your organization’s reputation, attract environmentally conscious customers, and contribute to a more sustainable future.
Considering these global issues allows us to anticipate potential challenges and opportunities, enabling one to make informed decisions and develop projects that are adaptable, sustainable, and aligned with the evolving global landscape.
The Financial Technology world where I presently work is an industry that is predominantly borderless, technology-based, innovative-driven, and has the presence of high-level competition.
The above peculiarities shape how projects are achieved and targeted at the mass market. The global nature of payment and transactions now makes it very important to consider activities beyond the local environment of the organization. Regulatory policies, lifestyle type, culture, political issues, and language are some of the important but not limited factors in developing new financial technology products as the end users are also international now.
The reality is that project management requires all the ingredients around local and international business consideration for a successful outcome and the sustainability of the project in relation to a business going concerns.
The Financial Technology world where I presently work is an industry that is predominantly borderless, technlogy based, innovation driven and have the prescence of high level competition.
The above peculiaries shape how projects are achieved and targeted at the mass market. The global nature of payment and transactions now makes it very important to consider activities beyond the local environment of the organization. Regulatory polices, lifestyle type, culture, political issues and language are some of the important but not limited factors in developing new financial technology products as the end users are also international now.
The reality is that project management requires all the ingridents around local and international business consideration for successful outcome and the sustainability of the project in relations to business going concern.
Competition makes everyone put in their best. it is very necessary in improving every member of the team
Change is bound to occur but as project managers, we are to intellectually develop new stratagems to tackle challenges that might stand as an hindrance against the sucess of our projects. My company is presently faced with technology issues in an environment that has people who are not internet friendly. We are finding ways to overcome this barrier.
UNDERSTANDING AND RESPONDING TO COMPLEXITY
We are in a global world 🌍 where change is constant and inevitable,for one to improve you in this profession you need to face competition and change
As a project manager, technology must affect your project either positive or negative it will affect positively if you applied it on your project in the construction industry it will reduce labour and make work easier and faster. For competitors it will make you to work hard for you to break even i.e means you must do extraordinary things more then your competitive. Social & political change can affect you direct let look at Nigeria as case study government policy have make price of item in the market increase same by 100% others 200%. They means it will affect you negatively. Environment crisis always affect project negatively such as natural disasters.
In every projects someone has to be complexity; because of the rapid change in Technology and environmental crisis we go through as a project manager.firstly,you have to look the frame work which helps to understand the complexity of the project at large.
When the county is politically unsayable it will affect project managers since most of the things invested will be destroyed
Working with an agency within a government that just recently experienced political change/hand over both nationally and subnationally has caused an apparent lull in the project I supervise. This is because new principals have been brought in not only in the supervising ministry but also the MDA where the project is domiciled in. This means that there has to be a period allowed for these new principals to get aquatinted with all that is going on within their MDAs and so no critical decisions or approvals can be made or obtained until the familiarization and integration process is complete. Time has to be managed properly to give sufficient allowance for the new principals to get comfortable on board, however, not too much time should pass such that project timelines and objectives are adversely affected.
As an educationist some of the challenges I encountered are inadequate infrastructure, inadequate funding by the government,low quality of students admitted and low quality of some staff.
IMPACT OF NEGATIVE TECHNOLOGY
Negative technology may impact students in the following ways:
>students may spend more hours using technology b’cos of it’s wide network and inexhaustible resource materials , both relevant and irrelevant, at the expense of his studies;
> students may be inclined to cheating b’cos of high reliance for it’s information;
> they can also skip classes and spend more time on information technology rather than studying.
IMPACT OF COMPETITION ON STUDENTS
Competition have both nagative and positive impacts on students’ performance.
> Competition negatively increases learning anxiety in students which in turn affects students’ academic achievement ;
>on the other hand class competition may have a positive affect on students’ academic achievement by promoting learning engagement among mates;
>moreso, competition can drive attention and physical effort towards improved learning outcomes;
>the social motivation of competing against one’s peers can challenge a student to work much harder on his or her tasks than he or she would independently feel compelled to do .
IMPACT OF SOCIAL ISSUES ON STUDENTS IN HIGHER EDUCATION.
The socio-economic changes going on in the society are posing serious challenges to teaching in higher institutions. The impact of these changes may be accountable for following behaviors;
>many of the students become disillusioned, uninspired and unenthusiastic learners;
> development of nonchalant attitude to their studies due to economic and social pressures; and
> helplessness on the part of the teachers in response to students’ conditions with ultimate negative impact on students performance.
IMPACT OF POLITICS
Political decisions often override professional and other rational considerations in appointing the leader. This can result in having:
>poor management of human and material resources;
>impropriety in the admission process;
-incessant strike by both dissatisfied staff and students;
> inability of leadership to provide a conducive environment for learning;
> failure to rehabilitate dilapidated facility for effective teaching and learning; and
>incompetence to address Examination malpractice.
POOR FUNDING OF EDUCATION
Inadequate resource allocation to the educational system has been responsible for:
> poor school infrastructure;
> insufficient facilities;
> lack of equipment and learning materials; and
> poor remuneration, absence of proper training and motivation of teachers.
ENVIRONMENTAL CHALLENGES
>Environment challenges include desertification, flooding, climatic change; and
>severe degradation of air quality due to industrial and vehicular pollution and contamination of land and water resources due to pesticides and industrial wastes.
GENERAL IMPACT OF TECHNOLOGY AND ENVIRONMENT ON PROJECT
Technology impoves communication and collaboration by breaking down the walls between individuals and teams.
Environmental factors can have an impact on project management even in environments that are relatively stable. It can be enhanced by easy access to capital and relevant technology to be facilitated by efficient leaders with ability to make maximum use of available resources.