UCT business school offers project managers skills for new
economy
March 2010
Project managers should not engage in wishful thinking about returning to the way
things used to be – in the post-crash world, mega projects are likely to be few and far
between. The “new normal” for projects is smaller, faster and focused on what is
essential with a reduced level of investment.
This is according to project management consultant Dennis Comninos, who codirects the UCT Graduate School of Business’ (GSB) five-day course Strategic
Project Management – for senior project managers in August – and directs the GSB
foundation Project Management course in April. The two courses impart tools and
techniques that empower project mangers to achieve success in the context of the
challenges they are facing today.
“In business, there’s a bit of buzz about getting things back to on track; back to the
way they were before the global financial crash of 2008/9. But let’s pause and take a
breath. Maybe it’s time to reflect on what we have just been through and think about
what we need to do differently, and better,” argued Comninos.
“For one, we are unlikely to see more mega projects. ‘Bang for buck’ is taking
precedence. Market forces are also more dynamic now – there is constant, rapid
change. This requires business strategies to be constantly realigned which in turn
leads to dynamic ever-changing projects.”
As an example, Comninos said that before the crash, a business would look at
getting a new IT system and wouldn’t really be deterred by the cost, while today the
same business is saying, ‘hold on, perhaps we can keep our existing system, and
maybe we should improve it or train people to use it better which would be more
affordable’.
“A region that illustrates the shift in project thinking is the Middle East,’ he said.
“Culturally, so much emphasis has been on time and cost: having it now, making it
the biggest and spending the most. Now, they're starting to realise that value – and
project return on investment – are important, and they never spoke about that before.
It's been a rude awakening.
“And in many other regions it is much the same story to varying degrees: it’s no
longer about being the best, the fastest, the most expensive. It's about what project
managers need to do right now to bring value and benefits to the business. And
really, that means one needs to stop thinking purely about managing a project and
start thinking like a business strategist. Make a project agile, show that it can produce
value, and then you can accelerate when things improve.”
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This new economy means that Chief Investment Officers and senior managers
should approach their boards for smaller amounts of funding – it is about microprojects that will deliver demonstrable value to the business.
“Breaking things into smaller bite-sized chunks that the board will find more digestible
will be a key strategy,” explained Comninos.
The courses at the UCT GSB, offered by the School’s Executive Education unit, are
ever-evolving and they offer highly relevant knowledge and tools to project
managers. Comninos is joined on the Strategic Project Management course by Chris
van der Hoven of Cranfield School of Management in the UK – both are
internationally recognised experts, consultants, authors, and lecturers in the field of
strategic and business focused project and programme management.
The foundation GSB course, Project Management – A Business Approach, takes a
look at projects from a business perspective and helps participants to understand
how a project is conceptualised and initiated in support of an organisation’s strategy
and business plans. It also covers the fundamentals of project management. The
Strategic Project Management course is for more senior project managers, equipping
them with the concepts and skills to drive value through strategic projects and
programmes.
Comninos added that there’s ultimately a need for a new age project manager,
particularly at senior level.
“Leader, strategist, business-oriented, entrepreneurial – the focus must be on
business and strategy, and not only on methodologies and standards. In the past
there was plenty of cash around, and strategy wasn’t that key. Today, the ‘Strategic
Business Focused Project Leader’ is what is required.”
For details on the UCT GSB courses, contact Mario Pearce on 021 406 1268 or SMS
“project” or “stratproject” to 31497. Standard Rates Apply.
Ends
Media interested in an interview or more information can contact Jane Notten
or Michael Morgan on 021 448 9465 or email info@rothko.co.za.
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