The impact of the COVID-19 pandemic on business

Added on - 23 Mar 2021

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Page | 1THE IMPACT COVID-19 TO MANAGING A PROJECTINTRODUCTIONAs the COVID-19 pandemic is continuing to expand, many businesses orprojects are significantly affected in many ways. It is challenges to government andorganizations to managing the existing on-going projects or any projects are going toimplement. It is also a test to all sectors about the ability of organizations to deliver theprojects effectively during this pandemic.Before year 2020, the number of people working remotely was already steadilyincreasing. Project managers were able to hold meetings and play their oversight roleto ensure the projects kept running no matter they are working remotely. The introduceof online cloud-based solutions, many international organizations are investing thissolution to allow flexible workstyle and project managers were able to make thedecision or respond quickly if there are any changes on project matters. When it cameto managing projects, they were easy to organise and hold the meetings remotely fordiscussions, solving problems and assigning the responsibilities. However, it is difficultand critical for operation process work remotely at home. Complicated operationprocess should still need to manage at the office. The activities to managing a projectsuch as planning, leading, documentation, communication can be conducted remotelybut the other activities such as implementation, time, budgeting may delay or shutdown during this COVID-19 pandemic.Government regulatory such as movement control order, country lock down,close of international border to prevent the virus continue spread to public. Theorganizations which are not under essential services do not have the option and werebeing forced to close their business activities including stop all the on-going projects.
Page | 2The government regulatory caused the delay of projects, loss of efficiency andincrease of project cost during this COVID-19 pandemic.It is key challenging for project managers to re-plan properly and respond quicklywith the right rigour. They shall try their best level to formulate new policies and makingmaterial decisions about the current situation of on-going projects and sharing theirideas among the organization. Distance become a challenge to project management.Project managers and team members are in different locations facing difficulty to workremotelyespeciallyinoperationactivities.Decisioncanbemadebuttheimplementation may delay. For example, a construction project, an engineering project,installation services, tourism or any manufacturing project may delay because lockdown and social distance to be monitored. It does not relate to how strong ITinfrastructure or resources of the organizations have. It is about the nature and theprincipal of the business activities are.The other challenge is the SME industries with a limited capacity and resources,their resources are mainly focus on the project and rapid changes is impossible in theshort time. Some may not be able to sustain their business as the investment of ITinfrastructure cost is expensive and lack of expertise to execute it. It may be anotherinternal project about innovation and technologies change to SME industries after thispandemic. For the organization with little remote, it has almost become a revolution todigitalization. The COVID-19 is forcing SME industries to speed up and transformingsome project activities to be digitalization.NEGATIVE IMPACTS
Page | 3The COVID-19 pandemic brough enormous effect on the business world. Theimpact of COVID-19 influences the project management in short term and long term.The impact may be listed as follows:1.Changeofinternalandexternalcommunicationwaytosupportprojectmanagement.Due to COVID-19 pandemic, the sector has come up with a new normal wheremost organizations have digitalized their operations to enable their employees towork effectively. To keep the projects running and continuity, the projectmanagers must adjust immediately on both internal and external communicationways so that clear and transparent information has passed to project members.To internal, most of the people start work from home and meeting held virtuallyvia ZOOM, Microsoft Teams or Google Meet within the organizations. To external,the project managers should adopt collaborate software to support projectdelivery successfully. The project manager should act quickly respond in thesecircumstances, otherwise lack of communication and clarification can causeduplicate work, inefficiency of project work and wrong decision was made.2.Change of supply chain management and risk of loss of customers.Most organizations have been lay off some of the employees to sustain theirbusinesses. It may possible supplier bankruptcies or mergers can threatenexisting contracts. Potential risk of loss of customers may happen due to unableto deliver the project completely, efficiently, and effectively in the COVID-19pandemic. For example, the organization face a shortage of supplies.3.Project delay.
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