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How does the recession affect Project Managers?

24 July 2012

There is a lot of talk, at the moment, of things being more difficult for project managers. With the recession still in full swing, and competition for jobs as high as ever, do project managers need to change the way that they approach their job?

The answer to that question is yes and no. The general principles that should be applied to project management are the same. As a project manager, you should still be aiming to successfully deliver your project. However, there are things that need to be done differently in order to achieve success in a recession.

While it is more difficult for project managers to stay successful; it is also a great opportunity to prove how your skills can benefit not just the project you are working on, but the entire organisation.

With companies trying to cut their budgets as much as possible, it is vitally important that as a project manager, you are sensitive to what is going on within the company. A major problem is that companies now find it very difficult to get credit. Therefore, companies face greater cash flow issues. It is important to be aware of this. With less help from borrowing, it may be worth focusing on the speed that your project is moving at in order to get the product on the market and bring cash in. Ultimately, the environment has changed and now requires higher attention to cash flow than large profit margins.

To get your PM knowledge up to scratch and ensure you are equipped with a recognised qualification, why not complete a Project Management course from Total Training Solutions? There are a number of programme options for you to pick from including PRINCE2 and APM certificates. If you’re unsure which certificate route is the right one for you take a look at our handy PM Qualifications blog post, email us at info@tts-uk.com or call 0800 612 1299.

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