The Association for Project Management (APM) has warned that greater economic and political stability needs to be addressed ahead of the Spring Budget to ensure the successful delivery of projects in the UK
Ahead of the Spring Budget, due to be announced on 15 March, APM has called on the government to factor the concerns of project professionals into its economic plans.
This year’s Spring Budget comes after a year of high inflation and economic uncertainty together with the current cost of living crisis in the UK.
APM carried out a survey of 100 project professionals
APM has carried out a survey of 100 senior project professionals working on projects across government policies, transformation and service delivery, Levelling Up, infrastructure and net zero, to get a sense of the profession’s levels of concern.
The survey indicated a level of general concern among project and programme professionals with regard to the economy, the labour market and supply chain issues in the UK.
91% of project professionals polled say they are concerned about the impact of ongoing economic instability on their main project. Of these, 58% say they are very concerned and a third say they are somewhat concerned.
The impact of supply chain issues on projects are also a source of worry, with 92% expressing a level of concern – over half of project professionals say they’re somewhat concerned, and 40% say they are very concerned about the current situation of supply issues in the UK.
There are also concerns over shortages in the UK labour market, with a total of 87% expressing concerns. Just 13% say they have few concerns or no concerns about labour shortages and its impact on their project.
In total, 88% of people surveyed said their main project was aligned to at least one government policy, making the success of these projects crucial to the government’s ability to deliver these policies.
45% said their project was linked to transformation and service delivery, and 33% said their main project was linked to the Levelling Up programme.
Projects need economic stability to ensure successful delivery
Andrew Baldwin, head of public affairs at APM, commented: “We know an environment of stability and certainty is vital to ensure the successful delivery of projects – especially those that are supporting government initiatives. This survey is a demonstration of that.
“We urge the Government to focus this year’s budget on delivering economic stability and certainty. Projects across the country need both to deliver their benefits.”
