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Weathering the recession storm with IT Project innovation

weathering the storm

The UK was put into lockdown on 23 March in an unprecedented step to attempt to limit the spread of coronavirus. All our priorities changed in that instant, as business growth forecasts were side-lined, and we all focussed on business survival.

But is still believe that behind every successful business is a successful and dynamic IT Project team. What if it were even more important for businesses after Covid-19 and lockdown to have an innovative IT Project team?

With the news that the UK has now entered recession, now is the time businesses will be turning to their Project Teams to drive the business changes necessary to weather the storm and emerge lean and fighting fit.

Consider the changes that your business has been forced to implement since that announcement on 23rd March – the ones that have kept your lights on and your business wheels turning. The Zoom calls, the Microsoft Teams, the remote working, the streamlining of systems so that fewer people can manage the workload of furloughed colleagues, etc, etc. What do they all have in common? They are all IT initiatives.

At the heart of every surviving business is an IT or IT Project team that is still inspiring, facilitating and delivering business change.

Remember survival is the new success! It is a story that we should be rightly proud of.

So, what’s next for IT Project Teams?

A lot of major business IT Projects are on hold. This makes perfect sense. Most major business IT projects were transformational rather than Business Change. but now projects designed to help deliver business growth and adapt to weather the recession caused by Covid-19 are essential. Businesses that were spending on their future are cutting costs just to survive their present.

Smart IT Project leaders identified this early on, they had the best handle on where efficiencies could be made and where processes could be improved - and they found that business leaders were more open to hearing about them than ever. There are lessons for the rest of us to learn.

In his book ‘Management Challenges for the 21st Century’, Peter Drucker wrote that, “Continuous process improvements transform the business. They lead to innovation. They lead to new processes. They lead to new business.”

Drucker wrote these words in 1999!!! BUT they feel even more appropriate now.

Given the current economic conditions, organisations need to be more innovative. Not just to survive, these IT Project led initiatives can actually drive new business. One of the ways that proactive IT Project teams are doing this is by focusing on, identifying and recommending improvements within their infrastructure. These improvements, many borne out of necessity, are streamlining business processes! They have the capacity to transform the business, leading to innovation and opportunities, perhaps even relative growth as everyone else stagnates. In some cases, they are even identifying new business deliverables that can be monetised.

Companies must strive to achieve greater operational effectiveness. It is a prerequisite for innovation, it is a basic reality survival, it is a traditionally acknowledged business instinct – but it’s also something many businesses are not fully leveraging in the enduring firefight that is our business environment since March 2020. Much business success has been built on improving internal processes and this has never been more important than now.

Companies may be wary of any increased cost, and don't want to commit to a full-time hire or contractors. So maybe it's time consider a flexible resource provision model like Project Management as a Service that are shaking up the traditional Project Services market to support your IT project delivery in these uncertain times and cover staffing shortfalls.

Project Management as a Service - PMaaS resource on demand model allows you to dial up and down IT project resources in sync with your delivery needs giving you much more control over your costs.

Gartner or PMaaS or PPMaaS was they call it : "Project-based service offerings typically come from traditional services providers, while PPM as a service (PPMaaS) offerings are coming from smaller specialist firms. For all organizations, this option is attractive to get end-to-end PPM services more quickly, flexibly and cost-effectively." - Market Guide for Providers of PPM as a Service

IT Projects are perfectly placed to shape the future of business as we emerge from this pandemic.

Find out more about PMaaS

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