Weathering the Recession-Time for More Efficiency in Project Management

Abstract

Throughout career, project management practitioners have tried and will continue to make a case for instituting project management as a discipline for all kinds of projects. This recurring need is ever present and will not end anytime soon whether in vibrant times or turbulent times, but more especially for the latter times when the value of project management practice is glaring as a strategic competence for success. The need to efficiently meet strategic goals has arguably never been greater in this time of economic uncertainty. Organizations do not have a lot of room for error in their project and program execution. Business owners need to focus, embrace and implement project management as a strategic competence to weather the lean times in the country. Project management practitioners need to demonstrate the value of the practice to help organizations realize the benefits by using well-tested project management methodologies, thereby further enhancing the practice in Nigeria for the greater good – the social value, a noble cause. Using Earned Value Management to monitor time, scope, and budget goals, sometimes called ‘project efficiency’ goals, is neither the only dimension of project success nor a dimension of project success that can be ignored any longer. Hopefully, this effort will contribute to the growing awareness of the value of project management practice to minimize money wasted due to poor project performance.