{"id":1326,"date":"2008-10-15T01:13:41","date_gmt":"2008-10-15T08:13:41","guid":{"rendered":"https:\/\/svapm.org\/2008\/10\/15\/3-the-credit-crisis-for-project-managers-what-does-it-mean\/"},"modified":"2019-08-07T14:33:45","modified_gmt":"2019-08-07T21:33:45","slug":"3-the-credit-crisis-for-project-managers-what-does-it-mean","status":"publish","type":"post","link":"https:\/\/svapm.org\/?p=1326","title":{"rendered":"3. The Credit Crisis: For Project Managers – What Does It Mean?"},"content":{"rendered":"

\"ChristophBy Andrew Meyer<\/p>\n

“Times change, we change with them.” – Latin Proverb<\/p>\n

In 1983, US companies spent $32 billion on IT, which accounted for 9.8% of their total investment in fixed assets that year.\u00a0 By 2006, spending had risen almost tenfold, to $294 billion, and IT accounted for 21.1% of new fixed assets purchased that year in the US, according to Harvard’s Andrew McAfee<\/a>.<\/p>\n

Much of this growth has come from projects and been led by project managers.\u00a0 The credit crisis marks a change.\u00a0 If you want to lead and benefit, think about some of the changes likely to come and how to position yourself to take advantage of them.
\n<\/p>\n

This is part 3 of 4 looking at the credit crisis:<\/p>\n

    \n
  1. The Credit Crisis: What Does it Mean for You and Your Company?<\/a> – This will look at what’s currently happening and what it means.<\/li>\n
  2. The Credit Crisis: Why It Is Important? – A Little History<\/a> – To get some context, we’ll look at why companies were set up and why investors, like Carl Icahn are so outraged.\u00a0 Understanding this is important to recognizing good opportunities.<\/li>\n
  3. The Credit Crisis: For Project Managers – What Does It Mean? – What are some things as project managers you should be doing.<\/li>\n
  4. The Credit Crisis: For Project Managers – What should you Expect? – What are things to look for and think about.<\/li>\n<\/ol>\n

    What does the Credit Crisis Mean?<\/strong><\/p>\n

    The credit crisis is simply the event that woke everyone up.\u00a0 There are several issues: financial, corporate governance, excessive supply, globalization and a host of others that could have caused the re-evaluation.\u00a0 Now that the re-evaluation has started, there are a couple areas that will be effected.\u00a0 Spending, corporate governance or transparency and excessive supply.\u00a0 Look for your opportunities to excel in the areas relevant to your firm and you will be a hero.
    \nSpending<\/strong>
    \nEstimates have S&P 500 forward earnings for 2009 decreasing by 20%.\u00a0 It’s a good bet internal budgets will decrease by even more.\u00a0 Expect that budgets to be cut.\u00a0 There will be fewer projects and less money. Position yourself to succeed by thinking about:<\/p>\n