Advice for a Project Manager who has lost their job - March 2009

The project management job marketplace has seen a reduction in hiring's over the last few months in line with the general recruitment activity in other managerial roles. Particularly hard hit has been the construction and financial sectors. There has been selective hiring across most sectors for project management and with the new job vacancies coming into the market we're seeing better qualified roles which have budgets and management approvals in place. This has led to less speculative activity from companies and vacancies are much more focused and more likely to end in an actual hire rather than being pulled at the last minute because of unforeseen business decisions.

Public sector project management has been faring better than private sector with salaries holding well and new vacancies coming into the job marketplace, we are seeking this pattern not just on a local level but globally. Looking forward to the future, just as the world leaders come together in the G20 summit, we're in the midst of federal spending and big budget stimuli packages that seek to create jobs. Whilst it will be good news for some, it stands to reason that the goal of economic boost will not be the savior of all industries.

Project management professionals stand to benefit from the potential job surge created on the back of the stimulus packages. The public sector project manager, particularly, has reason to be confident during this spending cycle with job stability/opportunity and some pay rises in the works, while the private and third sector professionals may continue to feel the bite. With stimulus being the word and hope of the moment, private and charity employees are anxious to find out what the knock on effect will be from the money allotted to these projects in actually stimulating their own job prospects.

No such worries for the green sector, which should see significant job increases. Investment from the American Recovery and Reinvestment Act (ARRA) for specific green sector projects will need proven project management expertise to deliver successfully and quickly, especially as all eyes will be on the outcomes ( each state lists their goals with these funds publicly and many states are doing this online for transparency).

Other sector benefactors from stimulus plans both in the UK and in the United States include the healthcare, education, infrastructure, housing/urban development, construction and public transportation sectors. The public sector in some cases relies heavily on the private sector to assist in the delivery of programmes and projects, spreading the risk of large scale big budget delivery.

With these packages comes a rise in the scope of responsibility amongst project managers. Those responsible for these projects have to manage efficiently & effectively – the eyes of the citizens are upon them as well. And with the announcement of increased training opportunity, especially for the predicted boom to sustainable energy jobs in the next decade, skills are going to be expected to match job requirements. Ergo, excuses for poor performance will fall on deaf ears.

Like many things in life there are winners and losers in almost all sectors, the financial sector for example has seen a slowdown in project management employment specifically within the banking sector. On the flip side there has been recent job growth within the insurance sector. A recent Confederation of British Industry (CBI) report showed optimism for insurance by revealing that 'employment remained stable.' One article even stated that 'firms are expecting to take on staff over the coming months.' But with RSA Insurance axing 1,200 jobs by the middle of 2010, skepticism remains.

Project Managers need to be switched on and reacting fast with their research of the job market as job opportunities are constantly emerging across most sectors. Companies which have reacted with caution in their commitment to programme and project delivery are slowly realising that to stand still in the current economic market is not an option. As more and more project budgets are signed off Project Managers will start to see their share of the stimulus plans come their way.