Anytime you are examining enterprise environmental factors, you should know they are internal or external factors that might likely affect the execution of a project.
These are also constraints that the Project Manager has to work with when he has to carry out any Project task. In this article, I want to look at some of these enterprise environmental factors as well as how they can affect projects.
#1 Economic factors
One of the Enterprise Environmental Factors that can affect projects is economic factors. The situation of things in the country as regards the economic situation in the country will determine the type of project an organisation will choose to execute at any given time.
#2 Social and Economic factors
Another factor that can affect the project environment is social and economic factors. You need to look at the environment where you plan to site such a project as well as what obtains in such an environment. This will determine what options are available for you as a Project Manager. You cannot site a brewery in a location where drinking of beer is considered a sin.
#3 Political Factors
The political situation in the country is another factor that will determine the enterprise environmental factors for any organisation. Nigeria, for example, is in his transition period. It is very possible that there are some investors that would not want to invest in the economy until the elections are over.
#4 Legal factors
There are some legal factors both within and outside the organisation that can also affect how organisations coordinate their projects. If you are constructing a building, for example, you need to consider the Physical agencies within your areas of jurisprudence. You might need to know what needs to be done in order to get building approval in such cities.
#5 International Factors as part of enterprise environmental factors
When you are running a project that cut across borders or involves Virtual teams., there is a need for you to consider international factors and geographical differences that might likely affect that particular project. You have to look at time zones and other internal factors. This will also affect the type of communication channels that you will likely affect your project.
#6 Technological factors as part of enterprise environmental factors
The type of technology reigning at any given time can also be a factor when you are considering what project you are going to execute at any given time. As it is now, technologies are very volatile. There was a time that Blackberry was very popular. Do not be surprised that we may not have Android around in ten years time. You need to put this into consideration when you are embarking on IT projects.
#7 Foreign exchange factors as part of enterprise environmental factors
The last thing I am going to consider is foreign exchange factors. It is a well-known fact that the majority of businesses value their businesses in terms of how much it will cost in dollars. They are using this to determine whether such a project should be carried out or not. You need to consider the exchange rate between your currency and the American dollar when you want to decide on whether you should carry out a project or not.
Now your take on this argument.
We would also like to hear what you feel about the topic we discussed today. Your feedback is very important to us. Feel free to drop your comments and recommendations. If you have a contrary opinion, you can drop that too.
You can also join our Facebook Page CRMNigeria for more updates. You can do that by clicking on the link or searching for our page on Facebook.
Click here to Download 5 E-Books that I have taken time to prepare for you.
These E-Books contains formulas that have helped many of my students to nail the PMP Exam. You can also make use of this E-Books. While you are using it if you have questions to ask me concerning the Formulas, feel free to shoot me a mail. I am committed to assisting you to nail your PMP exam. It’s a pledge. You can always count on me as a friend.
PS: For like seven years since I started blogging I have tried many platforms and tools. Some worked and some of them performed below expectation. Here are some of the tools that I will gladly recommend for you any day, any time.
PS: Click on the link below to sign up for my Online E-Course CRM Training. Make sure you confirm your subscription by clicking on the link sent to you. Thanks.
Adeniyi Salau PMP , CCNA R&S , CDMP, CEP, MOS, MCP, CSCU (Project 2016), Microsoft Certified Security and Networking Associate is a Google and Beingcert Certified Digital Marketer, Project Manager and SEO Expert of repute with about a decade of Blogging and online marketing experience. He is always ready to share his experience with others.