This week Olympic officials from around the world convened in Denver, Colorado, USA. What did they talk about? Apparently, the recession was the No. 1 topic of conversation--just as it is in every other corner of the globe.
Sebastian Coe, chairman of the organizing committee for the 2012 Summer Olympics in London, England, was one of the key players in attendance. According to the International Herald Tribune, Mr. Coe was on hand to assuage any fears that projects for the Games were off-track.
"We are not perfect, nor are we complacent," he said in an Associated Press interview. "No one says this is a risk-free process. But halfway through this project, we are absolutely--in everything we are doing--where we want to be."
This is partially true, since the project to build the main stadium for the games is ahead of schedule. But there's another side to the story. The global economic situation has forced the British Government to release more than US$650 million in backup funding due to a shortfall in private financing.
Mr. Coe, however, seems to have no misconceptions about the massive undertaking that still lies ahead. In January he said, "This is the biggest piece of project management a city undertakes, and it is against an immovable deadline. It is a tough time for the economy, but I remain upbeat about the potency of the Olympics to deliver an economic stimulus."
So, here is my question to all of the project leaders out there: How do you balance the success and failures of a large-scale project? And how do you grapple with factors beyond your control--like the economy--when they affect everything you do?
Editor's Note: Read more coverage on Olympics projects.
Sebastian Coe, chairman of the organizing committee for the 2012 Summer Olympics in London, England, was one of the key players in attendance. According to the International Herald Tribune, Mr. Coe was on hand to assuage any fears that projects for the Games were off-track.
"We are not perfect, nor are we complacent," he said in an Associated Press interview. "No one says this is a risk-free process. But halfway through this project, we are absolutely--in everything we are doing--where we want to be."
This is partially true, since the project to build the main stadium for the games is ahead of schedule. But there's another side to the story. The global economic situation has forced the British Government to release more than US$650 million in backup funding due to a shortfall in private financing.
Mr. Coe, however, seems to have no misconceptions about the massive undertaking that still lies ahead. In January he said, "This is the biggest piece of project management a city undertakes, and it is against an immovable deadline. It is a tough time for the economy, but I remain upbeat about the potency of the Olympics to deliver an economic stimulus."
So, here is my question to all of the project leaders out there: How do you balance the success and failures of a large-scale project? And how do you grapple with factors beyond your control--like the economy--when they affect everything you do?
Editor's Note: Read more coverage on Olympics projects.
You have to feel bad for these Olympics project teams. They are dealing with circumstances no one could have predicted. It is a great opportunity and challenge for the projects managers to help push through and deliver.