Are business projects being delayed by the BREXIT vote well a fair cross section of the media seem to suggest it is….
Financial Times Brexit doubts slow UK Business Activity 17 April 2016
The Telegraph British building ‘nosedives’ as Brexit fears delay big projects 13 May 2016
Construction News Contractor to vote against Brexit 19 April 2016
Reuters Britain would pay a BREXT Tax outside the EU 20 January 2016
The reports in the above journals illustrate a small section of recent examples of organisations that are holding off investment, waiting to see the impact of the BREXIT vote. The reactions of these organisations, post BREXIT vote may vary but there is a real possibility that, regardless of which way the vote goes, organisations may attempt to open the investment flood gates in early July.
Is your organisation in this position? If so is your project delivery function and Project Management Office (PMO) positioned and prepared to give answers to the inevitable questions of project timing, resources and business alignment. Will your internal change function be ready to start at a run?
From a business perspective the management may see that there is plenty of funding in place to be able to immediately ramp up the number of projects, to meet the original business plan. However, if you are not ready with modified plans and available resource now at this late stage, then you have very little time to prepare for the peak of demand in the next few weeks. Some urgent planning action now will position you to react positively when your executives come asking.
Business managers often do not understand and/or are intolerant to any push back due to lack of available resource to a call for an immediate ramp up. After all, they may well have expected the project management community to have managed this as a risk and planned suitable mitigating actions to avoid an adverse impact on the business plan. Many organisations will have a financial year start in April but will, thus far have spent only on essential projects that must continue irrespective of any UK EU referendum. There would be a flurry of activity to meet the demands of the business plan within the current financial year.
If the above is correct then there may be a sudden surge of activity on the contract market with
multiple organisations urgently seeking available skilled contingent resource to fulfil the resource demand. It is unlikely that this peak in demand will be satisfactorily met at very short notice. Therefore some pre-planning may well be essential.
If your organisation has not been affected by the uncertainty created by the UK EU referendum, then you are in the lucky minority. However it is highly likely that you are affected and at the very least you need a good very view of the pipeline and which candidate projects would be prioritised to go ahead post UK EU referendum.
- Do you have a prioritised list of projects waiting to be started?
- Are there up to date plans ready for the highest priority projects?
- Are there resources available or lined up for when the call comes to ramp up?
- Do you have contingency plans if your expected resource are not available?