How Project management can help during times of recession

A simple chat with my friend last evening made me prod, when he raised the question as to how Project Management can help during the current economic scenario. With so many thoughts going around, to me Project management lends the discipline of logical approach and the tools to balance the competing constraints of scope, quality, schedule, budget, resources, and manage risk to enhance the chances of success in meeting objectives… And this is more vital in times of recession. Thus, it is prudent to apply Project Management principles even to achieve routine objectives to ensure consistency in positive results, more so in turbulent times!