The country's project managers expect Brexit to have a significant impact on their jobs in the next 12 months, according to a survey by the Irish chapter of the Project Management Institute. Almost 70% of respondents to the survey said they expected Brexit to increase the complexity of the projects they are working on. Two thirds also expect an increase in the resources required to complete those projects. Given the wide variety of project management roles, that could impact all kinds of sectors and businesses.
"A project is a temporary thing that has a defined start, an end and produces some defined output," said the president of the Irish chapter of the Project Management Institute, Niall Murphy. "That could be a bridge, it could be a new service such as a mobile network service - or it could be an organisational change, such as the formation of a new company."
More than 50,000 people are employed in project management in Ireland, across a range of sectors including IT, public sector, financial services, construction, pharmaceuticals and manufacturing. The area is one facing high demand at present, particularly now as businesses try to prepare themselves for the impact of Brexit. That is enhancing what was already an acute skills shortage, which 60% of respondents highlighted as something that could impact on their work.
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"Good project management will lead to success and will reduce the risk in your business and there has been a growing demand over the last few years," Mr Murphy said. "Brexit just brought an extra focus to that, which prompted us to talk to our members," he stated. But as aware as the industry is of the problem, Mr Murphy accepts that there is no easy or short-term solution.
He said it will take the efforts of companies - who need to focus more on improving the skills of their staff - as well as changes at State level - to ensure that there is a better production line of talent in the years ahead. "It'll take time and investment to address the skills issue," he said. "In the longer term we need to have project management on the education agenda."
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MORNING BRIEFS - Lloyds of London has confirmed that it is to establish a European subsidiary in Brussels as part of its Brexit plans. The insurance specialist said the decision came after it had assessed its options for continued access to EU markets post-Brexit - with the office set to be operational by the start of 2019. Luxembourg. Dublin, Frankfurt, Malta and Paris were dropped. The confirmation came in Lloyds' annual results this morning as it announced a pre-tax profit of £2.1 billion, down slightly on the 2015 figure.
*** Accountancy firm PwC has warned companies here to prepare for the worst from Brexit. A report from the firm said it is likely that no trade agreement will be in place between Britain and the EU by March 2019. This could see the imposition of tariffs in many areas, in line with World Trade Organisation rules. However PwC said it expects the Common Travel Area between Britain and Ireland to be retained, while it also said that businesses now have time to make the necessary preparations for the UK's formal withdrawal.
*** The number of housing units for sale in the Republic declined by 17% to 22,100 year-on-year in January, according to an analysis by Sherry FitzGerald, the country's biggest estate agent. The company said this marks a new low in the number of houses available for sale throughout the State. The figure equates to just 1.2% of the total private housing stock across the country. In Dublin, the reduction in supply was even more pronounced, with just 2,800 properties advertised for sale in January, down 30% year on year.
