Circular Economy in Project Management

(Not done yet)

Abstract

We are living in a time with sustainability and waste reduction being some of the main focuses in manufacturing industries. In terms, project management is being considered sustainable if it achieves long-terms benefits [Kilde]. The long-term benefits can be achieved using Circular Economy, which can help mitigate the environmental impacts.

Circular Economy is a tool that works alongside the corporate strategy and business development, which is used in project and portfolio management to reduce waste by introducing new methods of reusing, refurbishing, repairing, recycling, leasing, and sharing existing resources that prolongs the products life cycle. This gives the company opportunities to reinvent their products so that they can create loop systems where already sold products can be part of a new product. For that reason, Circular Economy should be a crucial part of project management both in regard to the design and planning of new products, but also in the assessment of existing products.

Implementing Circular Economy may both reduce waste, but also improve finance, as fewer raw materials may be needed.