Project Management During a Recession Project

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Article CritiqueAs Grgurich (2019) points out, tasks and objectives are what matter most when budgets are constrained. Project managers have to be especially mindful of the goals and objectives of the company and how far new or existing projects will go to support those goals and objectives. Grgurich’s (2019) points are not industry specific in terms of their value; on the contrary, they can be applied generally speaking to every sector because the ultimate point is a valid one: budgets are cut during recessions, and companies have to be smart about how they spend if they want to survive economic downturns.The article uses Target as an example, but the same lessons that apply in the retail industry also apply in the tech industry, as the author notes. There is nothing that is specific to individual companies in this research: it is based on fundamentals of good project management during times of economic uncertainty. It lays down principles that any project manager can follow: be transparent and insist upon it with one’s team, do not jump into any decision but take things slowly, and prioritize risk. Good project management is often about good risk management (Willumsen et al., 2019).

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For project managers, one of the…

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…it is often tempting to try to cram as much into the timeline as possible in order to meet deadlines. However, this can often lead to problems later on if there are unforeseen delays or disruptions. By taking a more leisurely approach and building in some extra time for contingencies, project managers can reduce the chances of their projects running into major problems further down the line. In short, while taking it slow may not always be the most efficient option when higher-ups are looking for outcomes and effects immediately, in some cases it can actually be the best strategy for ensuring a….....

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