The third wave of the CoVid-19 Corona Virus continues to threaten us. It has claimed a considerable number of lives and has brought in a number of changes in our day-to-day activities. The lock-downs and social distancing are some of the things we have to deal with on a regular basis. Amidst all the chaos, the only respite has been that the low severity of the damage this time, despite the infections. Some experts claim this is perhaps the initial sign of the pandemic transforming into a less threatening endemic. We can therefore hope that finally normalcy will prevail. But with so much happening, the virus and its effect on humanity is changing, much like everything else. If you are an aspiring Project Manager, let us look at the likely changes in Project Management too.
Procurement Strategies
As a project manager, you need to take a new look at your procurement strategy. You have to minimize the costs. Along with the same, you also have to ensure that the risks are minimized.It would help if you made local insights to balance these two contradictory goals now in project management.
Cost Contingency
Though we might be reaching times when finally, normalcy will be restored, at the same time, you will also realize that the uncertainties will continue to reign. Because of this, you need to have a cost contingency. It mainly has to be done to mitigate the new risks that could emerge from some unforeseen events that may happen now due to the high levels of uncertainties.
Building Trust: an important aspect of Project Management
In times of uncertainty, there is more and more need to build trust. Owing to the risks now involved, trust within the ecosystem is at stake. Project Managers now in the current era need to be the builders of trust within the internal and external stakeholders. It would help if you currently had efficient team members who have strong decision-making capabilities.
Meeting Deadlines in Project Management
With so many uncertainties involved, meeting strict deadlines is a significant challenge for most. But you will know that the inability to complete projects within the scheduled deadlines may have vast scale implications on your project, including cost escalations and so on. Therefore, you need to make sure that you emphasize meeting deadlines and stay prepared for the same as well.
Conclusion
To conclude, we can say that though we may finally see the passing of the third wave of the pandemic and normalcy to prevail soon, project management has transformed in a big way. So as a project manager in this new era, you need to take care of things mentioned here. You also need to ensure that you are PMI certified, so you need to undergo the best PMP Exam Prep Course to ensure that you get PMP certified.