The impact of the COVID-19 pandemic on business
7 Pages1747 Words138 Views
Added on 2021-03-23
The impact of the COVID-19 pandemic on business
Added on 2021-03-23
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Page | 1 THE IMPACT COVID-19 TO MANAGING A PROJECT INTRODUCTION As the COVID-19 pandemic is continuing to expand, many businesses or projects are significantly affected in many ways. It is challenges to government and organizations to managing the existing on-going projects or any projects are going to implement. It is also a test to all sectors about the ability of organizations to deliver the projects effectively during this pandemic. Before year 2020, the number of people working remotely was already steadily increasing. Project managers were able to hold meetings and play their oversight role to ensure the projects kept running no matter they are working remotely. The introduce of online cloud-based solutions, many international organizations are investing this solution to allow flexible workstyle and project managers were able to make the decision or respond quickly if there are any changes on project matters. When it came to managing projects, they were easy to organise and hold the meetings remotely for discussions, solving problems and assigning the responsibilities. However, it is difficult and critical for operation process work remotely at home. Complicated operation process should still need to manage at the office. The activities to managing a project such as planning, leading, documentation, communication can be conducted remotely but the other activities such as implementation, time, budgeting may delay or shut down 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. The organizations which are not under essential services do not have the option and were being forced to close their business activities including stop all the on-going projects.
Page | 2 The government regulatory caused the delay of projects, loss of efficiency and increase of project cost during this COVID-19 pandemic. It is key challenging for project managers to re-plan properly and respond quickly with the right rigour. They shall try their best level to formulate new policies and making material decisions about the current situation of on-going projects and sharing their ideas among the organization. Distance become a challenge to project management. Project managers and team members are in different locations facing difficulty to work remotely especially in operation activities. Decision can be made but the implementation may delay. For example, a construction project, an engineering project, installation services, tourism or any manufacturing project may delay because lock down and social distance to be monitored. It does not relate to how strong IT infrastructure or resources of the organizations have. It is about the nature and the principal 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 the short time. Some may not be able to sustain their business as the investment of IT infrastructure cost is expensive and lack of expertise to execute it. It may be another internal project about innovation and technologies change to SME industries after this pandemic. For the organization with little remote, it has almost become a revolution to digitalization. The COVID-19 is forcing SME industries to speed up and transforming some project activities to be digitalization. NEGATIVE IMPACTS
Page | 3 The COVID-19 pandemic brough enormous effect on the business world. The impact of COVID-19 influences the project management in short term and long term. The impact may be listed as follows: 1. Change of internal and external communication way to support project management. Due to COVID-19 pandemic, the sector has come up with a new normal where most organizations have digitalized their operations to enable their employees to work effectively. To keep the projects running and continuity, the project managers must adjust immediately on both internal and external communication ways so that clear and transparent information has passed to project members. To internal, most of the people start work from home and meeting held virtually via ZOOM, Microsoft Teams or Google Meet within the organizations. To external, the project managers should adopt collaborate software to support project delivery successfully. The project manager should act quickly respond in these circumstances, otherwise lack of communication and clarification can cause duplicate 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 their businesses. It may possible supplier bankruptcies or mergers can threaten existing contracts. Potential risk of loss of customers may happen due to unable to deliver the project completely, efficiently, and effectively in the COVID-19 pandemic. For example, the organization face a shortage of supplies. 3. Project delay.
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