Question: Building Resiliency 8 D . Burba This article clearly describes the dangers of our faster, more volatile, and more global markets for organizations that have
Building Resiliency
D Burba
This article clearly describes the dangers of our faster, more volatile, and more global markets for organizations that have trouble changing their structures and responses. Change involves more risk, but lack of change guarantees falling behind, faster and faster. Resiliencethe ability of a system to cope with changeis the solution. Being more agile, flexible, and executing faster and more efficiently are all components of resilience, but these must be ingrained in the organization, which takes time and conscious effort.
In the st century, competitive disruption is business as usual. Just look at the airline industry: In less than years, four upstart superconnector airlinesEmirates Qatar, Etihad and Turkishhave surpassed the reach of formerly dominant carriers based in Europe. And theyre beginning to move into the traditional turf of USbased airlines.
How to respond to aggressive competitors and navigate volatile markets quickly and successfully is the crux of organizational agility. No longer a buzzword agility is a musthave for project success in rapidly evolving sectorswhich these days is most.
To be prepared for the future, you need both a culture and an organizational structure that provide the flexibility needed in a changeable environment, says Jorge Alberto Prez Torres, PMP organization deputy director at insurance firm Allianz, Mexico City, Mexico. The word resiliencethe ability of a system to cope with changefits very well in this case.
PMIs Pulse of the Profession: Capturing the Value of Project Management Through Organizational Agility indepth report found that percent of organizations with a highly developed culture of agility are able to quickly respond to market conditions, compared to percent of organizations with an underdeveloped culture of agility.
The contrast was similar with customer satisfaction ratings percent compared to percent
Yet cultivating organizational agility isnt easy. Organizations arent monoliths; theyre made up of people, and getting people to change their habits of mind and behavior takes time and effort. When organizations create a culture of agility that enables projects and programstheir most strategic initiativesto be completed faster and more efficiently than ever before, they are better positioned to thrive in uncertain economic conditions. According to the Pulse report, organizations can accomplish this by establishing a fivepart selfreinforcing framework consisting of supportive culture, strategic flexibility, collective leadership, capable people, and adaptive process.
But the real challenge for organizations looking to increase their agility is figuring out how to ingrain these capabilities so deeply in the project culture that they become second nature. Theres no getting around the time and conscious effort this requires.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
