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PESTLE is a strategic technique used to evaluate factors that can impact or change a project or change initiative. PESTLE is a acronym which stands for Political, Economic, Social, Technological, Legal and Environmental factors.
Take 2024 as an example; UK, US, France and many ore nations held major elections for governments and parliaments. One party may favour particular projects and other parties may not. Having an eye on the political world allows you to mitigate potential risks and changes, and may also encourage you to adjust your deadlines based on when elections may take place.
Additionally, how much money do people have? Are we in a boom or doom? The cash liquidity of the world in which your project operates within must be recognised and accounted for. Budgeting, setting out payment terms and also benefits analysis are all key to this topic.
It goes without saying, if you can get something to go viral, you usually end up doing quite well for yourself. For example, your song becomes a hit trend on Tik Tok, you can expect to be in the top 40 next week. Your project follows a similar pattern. Try and publish on topic information and ride the waves of public interest.
The tech industry is huge, but that’s not new news. Don’t go producing products that have to be used on out-of-date technology. For example, there is no point in producing games for old consoles such as a PlayStation 2 or a Nintendo64… you have to keep up with the times and make sure your product is supported and has a reasonable expected lifespan.
Of course, the law confines us all. Nobody clicked on this blog to be told not to break the law. Legislation, regulation and standards are all going to play key parts in your project, the management of it, and its’ subsequent success. Knowing what you are bound by ensures you can then follow the rules and work accordingly.
And finally, the environment is a factor which people globally are respecting more and more. A phrase that I believe will be a buzz for 2025 is “leave a place better than you found it” particularly when working in locations which are not your home / local to you. Being conscious of others, the land on which you work and building future technologies is becoming more and more important for organisations.
PESTLE is being taught to children as young as 16 here in the UK at A-Level business studies. This technique is one which all project managers need to get on board with. It helps us identify external risks, aid planning, enhance decision-making analysis and ensure compliance with a variety of factors. Don’t get caught out lacking new skills and processes, join me on my next project management training course and I can get you up to speed. Call 0800 151 0140 or visit www.spoce.com to view all our dates, times, locations and methods.
Having worked in the industry since 2016, Harley’s experience is vast and knowledge of project management methods is of an elite standard. He has covered a wide variety of roles in a plethora of projects and has worked with some incredible project professionals over the years; there is seldom a scenario that Harley has not encountered.
Residing in Poole, Dorset Harley has specialized in maritime projects and programmes in and around the stunning natural harbour. From project managing major yachting events, to advising on risk management approaches, the natural elements have thrown endless challenges into projects where Harley has strategically extracted the best outcomes from each scenario. These tales make up some of Harley’s most interesting examples used when delivering his training of which attendees enjoy.
SPOCE is proud to have industry leading pass rates for delegates in the PRINCE2® and APM methods which Harley has played a vital part in achieving. Starting his training career in 2019, he would run sessions such as “what makes the perfect business case?” and the much loved “PRINCE2 Practitioner exam workshops”.
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