PM skill and Project Management Maturity Model (PMMM)

EFFECTS OF THE CURRENT ECONOMIC SITUATION IN STRATEGIC PLANNING AND PROJECT MANAGEMENT Name: Institution: Course Title: Course Code: Instructor’s Name: Date Due: EFFECTS OF THE CURRENT ECONOMIC SITUATION IN STRATEGIC PLANNING AND PROJECT MANAGEMENT The current economic recession that is widely experienced in many parts of the world, has caused short, medium and long-term effects on businesses that may be hard to measure. An example of such impacts includes but not limited to; consumers limiting their consumption to more savings, seeking measures to avert risks and placing more focus on the money value from their spending. Although the United States seems to come out of the recession period, the future for the business environment seems to be tough because of the impact that the economic recession caused. Today’s organizations face business challenges in an environment of both uncertainty and turbulence. In maintaining a forward course irrespective of the economic situation in the companies’ market segment, the company should be determined in staying competitive in the market and look for more opportunities. Instead of focusing on economic difficulties, an organization should employ the opport...