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Are you stressed as a project manager?

PM ADVISORY

 By Alfonso Bucero

 Madrid, Spain
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We are living difficult times where budget and money are on the mind of most Executives in organizations. On the other hand more and more project managers are fired in European countries. Project managers that still work for a company are asked to manage more activities and more and more projects with budget reduction, and at the same time some of those project managers are getting their salaries reduced too.

Because of the financial crisis more and more companies need to renew and reinvent different ways to run their business more effectively and efficiently. All those factors are generating some tension in our bodies and minds as project managers. Some years ago the project manager was used to managing stress provoked by the scarcity of resources, triple constraint, and customer politics. Now we also need to deal with more and more uncertainty about our job continuity in any project, department or organization.

But, like most of our everyday project management stress, this extra tension can be managed. There are healthy strategies available for managing stress during any difficult financial time for you and your team. I would like to share my best good practices with you to deal with our stress:

1. Pause but don’t panic: There are many negative stories in newspapers and on television about the state of the economy. Pay attention to what’s happening around you, but refrain from getting caught up in doom-and-gloom hype, which can lead to high levels of anxiety and bad decision making. Avoid the tendency to overreact or to become passive. Remain calm and stay focused. That calm will affect your team members positively. Maintain a positive attitude and focus on the full part of the bottle.

2. Identify your financial stressors and make a plan: Take stock of your particular project financial situation and what causes you stress. Write down specific ways you and your team can reduce expenses or manage your project finances more efficiently.

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About the Author

Alfonso Bucero

 Author

Alfonso Bucero, DEA, PMP, PMI Fellow, is founder and Managing Partner of BUCERO PM Consulting, based in Madrid.  Alfonso was the founder, sponsor and president of the PMI Barcelona Chapter until April 2005, and belongs to PMI’s LIAG (Leadership Institute Advisory Group).  He was also the President of the PMI Madrid Spain Chapter. Alfonso has a Computer Science Engineering degree from Universidad Politécnica in Madrid and is studying for his Ph.D. in Project Management. He has 29 years of practical experience and is actively engaged in advancing the PM profession in Spain and throughout Europe. Alfonso is a contributing editor and international correspondent for PM World in Spain.  Alfonso Bucero can be contacted at [email protected].