Explore the sustainability practice in project management

Accepting the responsibility of looking after our planet

The sustainability initiative has shown significant growth in recent years. Measures taken to conserve water, reduce waste, and reuse resources, along with renewable energy adoption, indicate that various organizations are accepting the responsibility of looking after our planet.

These transformations are now influencing even the investment decisions, specifically when we are talking about business sustainability. Project management is not restricted; it is an exercise that needs to be on your ticking box, as it will change the paradigm of how you value your project, select, deliver, and think about it. At the end of the day, it affects the results.

Sustainable project management

Project management practices that depend on sustainability are becoming more future-friendly and environmentally friendly. This approach creates a smarter system for managing projects more effectively and delivering them efficiently.

Let’s begin by understanding what sustainability in project management is. Sustainable project management, as the term suggests, is a project that adopts environmental considerations as the core of its strategy, along with social and environmental implications.

Effective social and environmental responsibility are key to success

Organizations are not bound to follow the standards of sustainable project management; rather, it is a choice that reflects how the organization contributes to society for a better future. Business managers know that sustainability practices are not just preferred by stakeholders, but also by consumers.

If the company does not follow sustainability and understand that they have to focus on conserving energy and recycling resources, it will also be reflected in their economic savings.

This pressure on the framework has allowed each and every organization to free themselves based on the theory of sustainability, where effective social and environmental responsibility are key to success.

Notion of time scope and cost

What are the key roles of the project manager when we talk about this sustainability project management as we are aware that project managers used to have an iron triangle which is based on the Notion of time scope and cost. Nowadays the model management also considers another fact which is sustainability.
Additionally, if we look at it from a commercial point of view, we have to understand that the notion of ‘save the planet’ in a real sense refers to sustainability. Now, the long JBT of organizations and their business models is correlated with the motion of ‘save the planet’. Why are we necessarily talking about it? For example, you are pumping out disposable products and destroying your surroundings.
Profit for the future and the institution.

The environment and making your status unlivable will ultimately become an unsustainable business model. This will lead to a structure on the planet that has an effective value chain that recycles resources and processes, allowing my mind to stay away from damage and ensuring profit for the future and the institution.

A project manager must be innovative and have a proper understanding of the scope of a project and the value options available. They need to adopt a sustainability-focused innovative mindset, which will provide opportunities to work in smarter ways that positively impact not only their activities but also the future generation.

Elevate their comprehensive approach to meet the standards

Now, what are the project management sustainability frameworks that most companies all around the globe have introduced? EST, which stands for Environmental, Social, and Governance practices, is one of them. Do you think their operations, although creative, have many consequences? There is a need to have clear guidance with precise organizational goals.

That is the reason why various project management frameworks are emerging to help managers elevate their comprehensive approach to meet the standards of sustainable development goals.

Standard for Green Project Management

Let’s begin our understanding with the PF5 standards which is a recognised benchmark standard for Green Project Management The framework majorly emphasizes decision-making and Foster effective ways of resource allocation.

In practice, the term has a triple bottom line, which is 3Ps, breaking down as People, Product, and Processes. This will underline project management activities. DP 5 standard expands from the traditional project management principles to put forward different standards that will implement plans which are economically, environmentally, and socially responsible.

Sustainable project management steps?

What are the major sustainable project management steps? First of all, lessons are debated around defining your sustainability goals. You have to be clear in defining what your project’s specific sustainable objectives are, which should align with your organizational values along with broader sustainability principles.

You need to understand that your stakeholders must be engaged at various levels, from your project teams to the community and regulations, to identify areas that require more emphasis regarding sustainability. The notions that matter most need to be prioritized here.

Forward with the sustainability assessment

Each and every organization needs to have a comprehensive sustainability assessment of their project, considering various parameters such as carbon footprint, social factors, and economic aspects. Carbon footprint is one of the major concerns for various organizations, along with community well-being under the social factors. Economic aspects need to be integrated while assessing your sustainability framework in a cost-effective manner.

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