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.
I am currently looking for job, and in the part of the world where I live, the global economic crisis is affecting negatively the projects outlined by the government to better the lots of the citizens.
Working as a teacher in a secondary school, the economy of Nigeria has dealt with some parent to the extent that some of them can’t afford to pay their children’s fee anymore. So as a project manager you have to think on how to cut down some things that are high in cost but less important to the children in other for your organization to keep going and for the parents to be able to afford it too.
As a project manager, one must take pay closer attention to different changes in managing project in order to successfully complete a project.
Global challenges and technological progress have transformed the operational landscape of organizations in this present age and time.
As a Project Manager one needs to be ready to learn, unlearn and re-learn in other to handle complex situations. Always find ways to keep yourself updated and in trend, personal development should be a priority. In the hospitality industry, the competition is on the high side to deliver excellent service, one needs to be willing to research and implement new ideas.
Working in the manufacturing company, the instability of Nigeria currency has severely impacted on our product. Raw materials are on the high. Cost of production is high thereby causing a little or no profit left after product has been sold
In assessing the changes in a global world, it needs strategic foresight, commitment to continuously learn and adapt to new innovations thereby navigating uncertainties to thrive in the new birth of technology.
Global issues sush as fluctuations in the price of dollars have far-reaching implications for projects, requiring project managers to anticipate, adapt, and mitigate risks in a dynamic and interconnected world. By incorporating global perspectives, resilience, and sustainability principles into project management practices, projects can navigate uncertainties and capitalize on opportunities for long-term success.
The currency fluctuation in Nigeria has had a big impact on the construction sector because we have had to keep revaluing cost estimates almost on a daily basis which hasn’t been easy to communicate to the clients because some of these prices changes occurred more than once on some days. Technological changes have not moved as fast here as it is internationally so it’s been a challenge trying to convince Nigerian clients(who are used to the old methods/techniques) to adapt to the technological advancements that’s are being implemented elsewhere.
Constant communication with our clients is a very vital point for my organization.
As a company that deals with technological advancements/ IT, keeping up with technological changes requires continuous investment in research and development and this causes a serious strain to the company’s resources.
My company is one of the top financial industries in the country (FUGAZ) and it has been in existence for a long while However, we still struggle with our IT/ APPLICATIONS. The company is also looking to heavily invest in that sector but the current instability is making us loose our customers and also proving to the world that we are behind in IT.
This in turn affects a lots of projects or even offers the company has either internally to its staff or externally to the customers/ general public.
Surviving in a world of complexity, project manager must be intune with changing needs that globalisation and technology has brought into use.
On our present projects la k of power supply ,currency exchange rate fluctuations and galloping inflation have a debilitating effects on our projects ,we have to adapt and communicate with the stakeholders so as to chart a way forward
If you are not updated you will soon outdated. Every project has there own different approach, and someone has to continually develop in himself to meet up in these complex and challenging world.
Oluwagbemi Elasoru