The last decade has been a roller-coaster for the world’s economy, moving from boom to recession, then to recovery and now stagnation. In India too, despite a decent GDP growth, the environment for business has not been favorable. Reserve Bank of India (RBI) has increased interest rates 13 times since March 2010, making the cost of doing business very expensive.
“Cash is King” – This expression has never been as true for business survival as it is in the current period of uncertainty, inflation and high interest rates. In order to save cash many companies have focused in recent years on extensive cost-cutting programs. But they all soon realize that there is a limit to how much you can reduce. With time, additional cost-cutting efforts can no longer guarantee a substantial source of competitive advantage or new growth. At best, they can help you keep doing what you are already doing without falling behind.
The real sources for future growth/cash are a company’s new initiatives, such as innovation, and transformation, and all of them mean projects. Strategic Innovation based Projects are drivers that make organizations better, stronger and more competitive. Ironically, however, project and execution management has hardly been on the radar screen of chief executives. They often assumed that if they come up with the right strategy, their project teams will get it done and will implement the strategy as prescribed. Yet the reality is different: Many projects today fail to meet their benefit expectations: they may meet time and budget goals but do not deliver to their business objectives.
This situation presents a tremendous opportunity for companies to increase competitiveness and growth. Prof. Parasrampuria of PM Academy believes that “it is time that top executives realize the enormous potential for improvement available.” Partnering with Dr. Aaron Shenhar, an international expert, PM Academy has put together a 1 day seminar that focuses on managing such strategic projects for increased competiveness and business growth.
This seminar will present a framework and ideas on how to make project management a competitive advantage for your company. The framework integrates with current business practices to increase thechances of your strategic project’s success