How Can Economic Conditions Influence the Acceptance

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How can economic conditions influence the acceptance of a project management methodology? The book says that during the recession senior managers realized that they did not know as much about project management as they needed to know. By the end of the recession companies started to recognize the need for a more structured and organized way to do projects and plan strategic planning. Companies understood the need for good strategic planning but they did not have a good way to implement their plans. Companies started understanding that they could use project management to implement their strategic plans as well as their operational plans. The book stated that another factor that helped in promoting project management acceptance in companies was strategic business units. The strategic business units were usually more excepting to the use of project manage and more aware of the necessity to obtain horizontal and vertical work flow. These groups recognized that project management was a vehicle for implementation of most any plan and any project. According to Importance of project management in strategic planning article, Good Project Management is critical to keeping strategic targets on schedule. A strategic plan is usually management-driven and forward-looking. That means your strategic plan may take over three, five or ten years to achieve its goal. During that time, you need a heartbeat, or tracking method - to ensure everything is on the right course; or corrections are made at the right time to keep it on course. Any activity performed during the course of a project to ensure it remains on target is called Tactical Planning. Tactical Planning Decisions are made for short-term goals. A good project manager will monitor the overall life-cycle of a project, and suggest changes or adjustments as needed, depending on their requirements (Cost, Quality and Time

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