Project Management and Economic Downturn

This post from the Project Shrink made me think. It made me think about the general relationship between project management in times of economic downturn and how project based organizations will react to this.

In my opinion, the current economic situation will accentuate the contrast between organizations that succeed late and those that fail early:

1. There will be organizations spending even more time trying to determine if a project is worth doing – that means these will probably do that even more, bet their year on a couple of key projects and see the benefits at a later stage.
2. There will be organizations spending even more time doing projects that will fail or succeed early – that means these organizations will spend more time doing projects rather than talking projects, bringing concrete results early.

The financial crisis means you have to start getting real. My hopes are that organizations will realize this too, and will spend more and more time doing projects.

What do you think the effects of this economic downturn on project management are/will be?

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