We all know how important it is to start any significant effort on the right foot. This is particularly true for projects in which, as is often the case, either the project manager or the customer liaison (who I will refer to as the “customer”) are not the same people who negotiated and signed the contract. The very beginning of the project is the time for both parties to review the project documents together, make sure they both agree on what is to be done, and uncover and resolve any undocumented expectations that either party has.
Business IT
The COVID-19 pandemic is affecting recent merger and acquisition (M&A) activity, but in ways you might not expect. Yes, the number of merger and acquisition deals is expected to decrease due to stock volatility and increased business risk. However, savvy dealmakers can often find merger and acquisition targets at lower premiums during an economic downturn. M&A deals can also provide opportunities for growth when revenue streams are uncertain, and the cost efficiencies that come with consolidation and economies of scale.
The customer often does not understand the interrelationship between a project’s budget, time, and scope. Early in the life of a project, a good project manager should discuss this relationship with the customer, and ensure that everyone understands how attempts to adjust one or two of these automatically adjusts the third.
Given the strategic importance of IT in business operations, you’d think that organizations would focus their IT budgets on initiatives to increase productivity, enhance customer service or gain competitive advantages. However, the latest research from SMB Group finds that support is the No. 1 reason why midsize organizations hire IT staff. Despite the difficulty finding skilled technical personnel, 55 percent of midsize organizations dedicate their in-house IT staff to support roles.
Businesses that sell to consumers are rightfully concerned about delivering a high-quality customer experience (CX). In a recent survey of 2,000 consumers conducted by 3Gem Research and Insights, almost 90 percent of respondents said they would remain loyal to a company following a positive customer experience, while almost 75 percent said they would take their business elsewhere after a single negative experience.
