3 Ways to Improve Project Financial Sustainability

PMI Southern Ontario Chapter

Bruce is the founder of ProjectManagementHacks.com, a resource for growing IT project managers.

You work hard to build a new project. You plan, manage change requests and keep the stakeholders on board. When the project finally ships, you’re ecstatic! All your hard work has paid off.

Not quite!

As a project manager, you’re used to focusing on the project itself. That makes sense when it comes to hitting deadlines and making your budget. There’s a gap though. You might be hurting the organization’s financial sustainability.

What Is Financial Sustainability?
Financial sustainability is the organization’s ability to realize value from the project following delivery at an acceptable cost. For example, consider the following case: You ship a complex technology project, and it requires months of expensive bug maintenance. That is an example of poor financial sustainability. The project might have hit its budget, yet the organization is struggling to get more value from it.

Why should you care about financial sustainability as a project manager? You’re on to the next project after all. Considering the issue at a project level, that perspective is entirely valid. However, your career is more than a single project. If you become associated with multiple projects that drag down the organization, that is going to hurting your career.

Adding Financial Sustainability Into the Project Planning Process
During the planning phase, you …

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"Ambition is like a frog sitting on a Venus Flytrap. The flytrap can bite and bite, but it won't bother the frog because it only has little tiny plant teeth. But some other stuff could happen and it could be like ambition."

- Jack Handey

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