How to Survey Changes to Your External Business Environment

The video discusses the importance of understanding the broader context of projects within organizations and the business environment. It uses the meerkat as a metaphor for project managers to stay vigilant and anticipate changes. The concept of a road map is introduced as a tool for future planning, dividing time into zones to plot key events and trends. The video explains the use of acronyms like PESTLE and SPECTRES to identify strategic trends and risks, emphasizing the need for project managers to be aware of societal, political, economic, commercial, technological, regulatory, environmental, safety, and security factors.

What does the acronym PESTLE stand for, and how is it used in project management?

Explain the components of the SPECTRES acronym and their relevance to project management.

How can project managers identify trends and changes that may affect their projects?