Financial and Strategic Management of Projects Wk11 Essay

Financial and Strategic Management of Projects Wk11 - Essay Example Ethics must be considered by project managers in their planning for projects. A project that has a good budget, reasonable time allocation, and all the necessary resources to complete a project successfully can fail due to a lack of ethics among the team players. A case study of a firm that went form market leader to becoming at the time the biggest bankruptcy in United States history due to a lack of ethics in the Enron scandal. Project management is very important towards the success of a multinational corporation. Back in the late 1990’s Nike Corporation faced some serious problems due to the lack of ethical conduct of the project managers overseeing the foreign manufacturing operations of Nike. The firm lost millions of dollars in revenues due to the bad publicity from the revelation that Nike was running sweatshop manufacturing operations. During the past decade the business world has realized the importance of corporate social responsibility. Changes in customer tastes and expectations have made companies producing green products one the fastest growing industries in the United States and abroad. For instance in the car industry automobiles that used hybrid or electric technologies have soaring demands in the marketplace. In 2010 the total sales of hybrid vehicles in the United States were 28,592 which accounts for about 2.5% of total auto sales in the industry (Hybridcars, 2011). A project manager has to take into consideration the environmental impact of a project. During the past century the industrial world has caused great damage to the environment due to pollution its activities have caused. Global warming, deforestation, and food scarcity are some of the problems our society faces in the coming decades. A financial strategy that can be used to give back to the community is donating a fixed percentage of the revenues of a firm. A