What Triggers Demand for Projects

Viable projects must relate to business strategy. Key triggers that jumpstart businesses to execute projects are limited. One of such triggers includes market needs. Market needs create demand for projects when companies want to develop a product to address their needs or keep up with the competition. Another trigger may include a business leader. During the financial crisis, companies executed projects to reduce costs and increased revenues by expanding the customer base to keep their operations.

A demand for a project may arise from technological advancement. The scenario occurs where technology evolves to the point where business automates, or products need changes. At times projects may come from a customer request where key customers require a tailored service. Other projects are introduced when regulations and laws change, and the business requires adjustment to comply with regulatory changes. Ecological impact considerations may be a case for introducing projects in organizations. Companies are often required to improve their processes towards responding to environmentally friendly needs. Consider the case of electric vehicles as a response plan to minimize pollution.

Project selection and priority

The moment a necessity arises, projects will be instrumental in addressing the needs. Be that as it may, the needs arise frequently and simultaneously, thereby introducing the challenge of responding to all the needs. Corporations choose critical concepts from the competing ideas that end in a proposal. The originator of proposals will always need to draw higher management’s attention to compete for the organization’s limited resources. u00a0Management will then review the project and decide which ones to execute, discard and wish to postpone it later. Urgency is a critical factor in selecting projects other than cost. The Board of directors also seeks to understand the urgency of taking a project. u00a0

u00a0Project Portfolio Management

When the board of directors is presented with possible projects, they often select several of them and add them into a project portfolio. The Board of Directors then dabbles in what is called project portfolio management is prioritizing projects and the administration and control of large sets of projects and programs. The objective is to achieve the results and combine resources across projects in an optimal way. As with any investment, the preliminary analysis needs to be performed with care considering company resources, organization finances, time, effort, and attention.

Emmanuel Addo

Emmanuel Addo is the founder of the Young Global Leaders Network, an international non-governmental organization registered in six (6) countries namely, Ghana, United Kingdom, Nigeria, Sierra Leone, Democratic Republic of Congo, and South Sudan and has a membership strength of over 15,000 young black professionals, students, graduates, and aspiring leaders.

The organization also operates in 25 other African countries. Emmanuel also doubles as the chief convener and founder of the Young African Leaders Summit, one of the largest continental youth summits in Africa.  

Currently works at Kingston University as a Business Engagement Team Member in their Partnerships and Engagement Department. 

He characterizes energy, integrity, result-oriented, and ground-breaking service in each detail of strategic management, change management, stakeholder management, and leadership acquaintances.
Emmanuel owns a core background in Sociology and Psychology from the University of Ghana.

Leveraging his experience as a youth activist and a dynamic young man, Emmanuel founded the Young Global Leaders Network, a youth organization that comprises young diplomats, young politicians, and aspiring politicians, business/entrepreneurial business leaders with the aim of championing a mutual agenda for the African youth and promoting youth participation in governance as well as promoting entrepreneurial culture.
Emmanuel nurtures an environment of teamwork and has expertise in data collection and analysis as well as both quantitative and qualitative methods.

Emmanuel worked as an Associate Lecturer at the London College of Advanced Management where he delivered a wide range of business management courses that involved principles of marketing, leadership, operation management, and research methods. Emmanuel has always maintained high teaching and learning standards to ensure that his students’ stand out in academic achievements and successful progression. As a stout believer and passionate key player in volunteering; Emmanuel creates quality time to giving back gladly to his community what he has learned and to educate individuals with free consultancy on career development. He is a leader anyone would love to look up to and with great integrity, commitment, and passion to make the world a better place.
Emmanuel worked as Qualifications Manager at the Open University in the UK.

Emmanuel is also the founder of Kickstart Innovation Hub Ltd, the entrepreneurial hub of Young Global Leaders Network.