COVID-19 and the project management in SME

Abstract

Sources of natural threats include weather extremes, tectonic and soil movements, diseases, and other natural hazards. Epidemics, epiphytes, epizootics, and pandemics can be included in the section of diseases. It is the pandemic that became the biggest threat to the whole world in 2020. Everyone knows that it is a coronavirus infection - COVID-19. This epidemic had spread from China since the end of 2019 when it gradually affected the whole world from Australia and Europe to America. This threat affects all areas of life for each of us. It is the area of the economy, the environment, the restriction of citizens' rights, and others. Our article will aim to focus on the economic impacts of this pandemic mainly from SME (Small and medium enterprises) point of view. Each company seldom finds itself in a situation where it has to deal with a crisis. Each crisis has its specifics, and have the negative impact on profit of companies. However, the crisis in 2020 is something specific. It is not caused by the collapse of banks or the country's unfortunate economic or political situation. The coronavirus crisis has affected the all sized companies (as Large as SME), thanks to limited opportunities to leave home, a ban on traveling to foreign countries, and, in essence, a slowdown in the entire economic cycle. The financial crisis with coronavirus is further divided into two types. Firstly, there is the crisis of companies that could not produce during a state of emergency (i.e., at the time of the greatest threat to the population from coronavirus). Secondly, these are companies that operated during the crisis, thanks to the running-up contracts, but the crisis came later, after the state of emergency. For example, it is due to the low number of orders for a given product due to limitations in times of emergency. The aim of the article is to point out not only the economic but also the environmental impacts of the coronavirus crisis on the SME. Mainly because of the reduction in the production and operation of companies that had a significant impact on the environment worldwide. Based on the analysis performed in this article, will be proposed measures aimed to mitigating negative impact of the crisis, mainly by implementation of project management tools in the SME. © 2020 International Multidisciplinary Scientific Geoconference. All rights reserved.