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 employee in fabrication firm, technology has greatly improved and increase our daily work efficiency as most of our equipment’s were base on mechanized. It alters the culture by providing more real-time data on the performance of equipment in the field today, allowing fabricators to consider improvements that can be achieved in months through data algorithms rather than years or decades.
In the real estate industry, challenges such as environmental crisis, stiff competition, technological advancement, political shifts, have had positive and negative impacts in my organization and how project planning becomes effective.
Environmental crisis is a huge challenge in the real estate industry. For instance, during the raining season, a many housing projects were put on hold due to flooding in certain strategic locations that has been mapped as high yield for futuristic investment by clients. To solve this issue, the company resort to creating channels to ease passage of floods and extra sand filling. This creates an additional costs.
Political shifts also adversely affect the company by policy changes whereby acquired properties were revoked causing unsettling issues between the company and investors.
Technology advancement have helped the real estate market to boost up and reach wider audience via digital marketing, branding exposure, AI usage for content writing, etc. More clients have the option to choose from varieties of properties listed on the website.
In the Nigerian IT industry, Technology has had a major impact on the Nigerian IT industry and projects, both positively and negatively. On the positive side, technology has made it easier for companies to collaborate on projects, and has allowed them to reach a wider audience. Additionally, new technologies like cloud computing and AI have allowed for faster and more efficient project management. On the negative side, the high cost of technology has made it difficult for some companies to keep up with the latest developments, and cyber security issues have also posed a challenge. However, overall, the benefits of technology have outweighed the drawbacks for the Nigerian IT industry.
Competition: Competition has had a major impact on the Nigerian IT industry and projects. In recent years, there has been an influx of foreign companies and investors into the Nigerian IT market, which has led to increased competition. This has been both positive and negative for the industry. On the positive side, competition has led to innovation and improved services. However, it has also led to price wars and a race to the bottom, which has made it difficult for some companies to stay afloat. Additionally, the increased competition has led to a brain drain, as some of the best and brightest IT professionals have left Nigeria to work in other countries.
Social and political change:Social and political change has had a profound effect on the Nigerian IT industry and projects. The recent economic and political challenges in Nigeria have led to a decrease in funding for IT projects, which has had a negative impact on the industry. Additionally, political instability has led to insecurity and a lack of trust in the government, which has made it difficult for companies to plan for the future and invest in IT projects. However, despite these challenges, the Nigerian IT industry has continued to grow and innovate, and there is still a lot of potential for growth in the future.
Challenges such as environmental crisis, political instabilities especially has contributed to our organizational problem of goods distribution and supplies.
Global issues like technology advancements, heightened competition, social and political shifts, and the environmental crisis significantly impact organizations and projects in the organization where I work as an RF Engineer
Technology: Rapid technology changes demand constant adaptation, requiring projects to integrate new tools and processes, impacting project timelines and resource allocation.
For example, 4G Technology is gradually phasing out, and 5G is the latest technology
Competition: Intense global competition means organizations must stay agile. Projects need to align with market trends and customer demands to maintain a competitive edge.
The Information Technology industry changes rapidly, in other to remain relevant, Organization needs to change most of their infrastructure to compete.
Social and Political Change: Evolving regulations and social dynamics can affect project planning and execution, necessitating adaptability and awareness of diverse stakeholder needs. The price of dollar now has affected a lot the prices of equipments used in projects.
Environmental Crisis: Sustainability concerns are paramount. Projects must consider reducing environmental footprints, adopting green technologies, and complying with eco-regulations, adding complexity and cost.
In this changing landscape, organizations and projects must be flexible, innovative, and socially and environmentally responsible. Adapting to technology advancements, embracing diversity, and addressing sustainability are essential for long-term viability. Meeting these challenges head-on can lead to enhanced resilience and success in an ever-changing world.
Truly we are in a complex world and the world is rapidly changing. Technology a greater influence on the world has impacted and holds the greater percentage of the changes we have and would still have in the world.
As a PM, you need to evolve,continue professional development as the world evolves else you can get outdated. Other factors that have effect on projects are political instability due to change of government which causes changes in policies and one government favouring one to the other. Lack of investors resulting in an increase in exchange rate also affect negotiations with project sponsors …. To emerge and be successful as a PM you need to evolve and be up to date. Be friend with every government and many more
Technology plays a vital role when it comes to the society and this has made PMs finds their works more easily than before. someone can actually go online with the knowledge of tech and get almost all you want, for example, ChatGPT can solve almost everything we needed when it comes to handling of project.
Also,political changes had a negative way on the PMs because favoritism of someone not belonging to my political parties had make most PMs lost their and incompetency is now all over all in the name of favoring someone they are acquitted to.
Technology play a vital role in my projects because it makes work to be easily done.
Competition Most times ,competition affects project. For instance, if there are different competitors on the same line of business or project, it could prevent the growth of the business.Competion create an opportunity for someone to be more innovative, creative and bring out the best at what he/she does.
The global economy, and political world has an influence on our work as PMs. Although, with the current changes and growth in tech development, we can be able to harness and get more informations needed for a task through rigorous online research.
For every project manager, I think technology has made it a bit simple to get your project done in the complex world we live in today because it is a level playing ground for everyone in carrying out the project, you get access to information on the project you want to embark on at the same time you have to be very careful most especially when on the internet in sorting out for the information you required for your project not to get into security theft by scammers.
competition is a serious issue when it comes to project management because you have to be creative and sensitive to things happening around you and don’t ignore every little idea you get or that flies around I always go back to the drawing board to juster pose on how to become best at what I do and don’t strive to compete at all times, but just get a key that works for me on the project.
social and political decisions have a greater influence on project management, because I have to understand the kind of people am carrying out the project for and for the government decision for every policy that is made by the government will either affect a project positively or negatively, but as a for me, I have to study the patterns of that social group or the government.
environment is also a major factor that influences a project, I have to understand what that particular environment needs and the kind of project that will work in such an environment because when it comes to environment we have different classes of people there.
I will say political and economic developments and associated changes in the practice and delivery of health and social care have led managers and professionals to recognise the importance and links between problem solving and decision-making skills. In particular, assessing the impact of political, economic, socio-cultural, environmental and other external influences upon health care policy, proposals and organisational programmes is becoming a recognisable stage of health service strategic development and planning mechanisms. Undertaking this form of strategic analysis therefore is to diagnose the key issues that the organisation needs to address.