Project Management Risks and Consultant Challenges in 2020

This report conducts a literature review evaluating key distortions and risks faced by project managers and consultants in 2020 and the future, particularly in the context of the COVID-19 pandemic and Brexit. It examines the increasing complexity of business projects, identifying risks related to economic recession and macro-environmental factors. The report explores the distinction between research and practical experience in project management, emphasizing the importance of both. It delves into probable key risks and impacts, including supply chain disruptions, workforce issues, and financial uncertainties. Furthermore, it analyzes risk management strategies like avoidance, transfer, mitigation, and acceptance, and discusses the application of STEEPLE factors (Social, Technological, Economic, Environmental, Political, Legal, and Ethical) to assess the impact of these factors on business projects. The report concludes by considering the long-term effects of COVID-19 on project management and the need for agile approaches to improve project performance.