Squeezing the Most Out of Your Project Budget

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Squeezing the Most Out of Your Project Budget

by Vijay Sankaran

January 26, 2009


The economy is clearly the worst it has been since I entered the professional workforce in the early 1990s. I have been asked to cut everything from people to paper to pencils. There isn’t an organization in America that hasn’t enacted severe budget cuts.
 
At the same time, critical projects that can improve the competitive structure of an organization are still necessary. While there is great scrutiny against project expenses and hard business return, companies know they must continue to invest in good projects to position themselves when the economy recovers. The mantra of this year seems to be: Do more with much less. The question on everyone’s mind is clear: How can you deliver in the face of significant cost pressures?
 
Before assuming that every project that has been selected fits the category of “critical”, it is important that during these economically challenging times that all corporate leadership scrutinize the value of a project.



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