PM Network - January 2017

The Olympics are history—so the race to complete infrastructure projects for the Games no longer can distract Latin America’s largest economy from a grim reality. A recession that officially hit Brazil in August 2014 lingers on, and government corruption has created leadership turmoil. National unemployment is expected to climb to nearly 12 percent this year. With jobs and wages in decline, the economy—and project opportunities—keep contracting.

“Project management, as a career, is being deeply
affected by this economic scenario: Less investment
means fewer projects being rolled out because com-
panies are in standby mode, waiting for funding,”
says Alex Julian, PMP, head of change operations
and cross-product services, Bradesco Bank, São
Paulo, Brazil.

While many capital-expenditure projects have been shelved or delayed because of a lack of funding, organizations are doubling down on transformation initiatives that can cut inefficiencies and streamline operations. “Brazilian companies are looking for project managers who think with an owner’s mindset, always looking for ways to provide efficiency gains and do more with less,” Mr. Julian says.

Applicants must learn to switch lanes, too. Slumping construction and oil and gas industries are forcing some project professionals to flock to IT, telecommunications and financial services. Having a proven track record in stretching resources and motivating team members will make the transition easier, Mr. Julian says.

“Some companies were less concerned about cost or scope in the past because there was lots of money, but now budget restrictions mean more CEOs are interested in controls, processes and methodologies,” Mr. Julian says. “That contributes indirectly to the project management profession growing in maturity here.”