Evaluating Project Viability During a Recession
The viability of an open project can be significantly jeopardized by a global economic crisis. Depending on the severity, the actions an owner takes will determine how difficult the recovery is. Whether it's delaying a project, completely abandoning it, or reallocating the funds, owners have big decisions on their hands. In this guide, we discuss the steps an owner must take to determine a project's short term and long term viability in the midst of global economic stress.
The ability to forecast with a project management information solution (PMIS) allows owners to track and project costs on a granular level with a much higher rate of accuracy. What will it take to complete the project? Who do I still have to pay? What has been paid? What does my cash flow look like? What's the status of my funding sources? With the support of a project management information solution, this guide will help an owner to answer all of these questions.