Project Management

The Money Files

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A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts. Written by Elizabeth Harrin from GirlsGuideToPM.com.

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The Psychology of Estimating

3 Skills Areas To Help Your Team With

Closing out a Programme

3 Ways To Be More Strategic As a Project Manager

Introducing The Public Sector Advisory Community for Estimating

3 Barriers to Effective Benefits Management [Video]

Benefits realisation management is one of the hardest things to do in a project setting (in my opinion) and in this video I explain why. I talk about three things that make it harder and give you a few tips on what you can do instead to help get over some of the challenges. The three things are:

  • Low skill levels
  • Poor integration
  • Poor processes.

Watch the video below and then let me know whether you’ve seen any of these challenges in your organisation!

There is more detail in this article: 5 Barriers to Effective Benefit Realisation that draws on information from Carlos Serra’s PMI presentation on the topic.

Posted on: December 07, 2021 04:00 AM | Permalink | Comments (0)

3 More Impacts of Risk Management [Video]

Categories: risk, video

Risk management processes affect more than simply risk. Or rather, the impact of project risk management runs far deeper than just helping you plan for what might happen. There are lots of other reasons to do risk management too – and in this video I’m exploring 3 more reasons why you might want to take a bit more time to do risk management because poor risk management has consequences.

The topics discussed in today’s video are:

  1. The impact of risk on managing budget overspends
  2. How risk management can mitigate against unhappy stakeholders
  3. And how risk management can address issues of reputation management.

Watch the video for more on these! Hopefully it’s a slightly different way of thinking about the value of doing risk management, and something you can get your stakeholders to buy into.

For more on this topic, check out last time’s video where I looked at another 3 impacts of risk management on the wider business.

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Posted on: September 08, 2021 09:00 AM | Permalink | Comments (4)

3 Ways Strategic Factors Add Risk to Projects [Video]

Categories: risk, video

Strategy plays a huge part in whether or not your project is going to be a success. Yes – things decided way above your pay grade influence the outcomes of your project.

That happens through risk. The corporate approach to strategy (or lack of it) massively shapes how your project is going to be carried out, implemented and delivered. The framework in which your project is being managed is of course influential – I’d say it was one of the enterprise environmental factors that shapes how you need to act on the project.

The risk profile of your project changes depending on your project’s context. A project in my company will have different outcomes to the same project (even if we hypothetically believed it would be delivered by the same project team) because the corporate approach to project management is different. The risk appetite would be different.

Strategy brings risk to your project in numerous ways. I’ve called out three of the main strategic factors that influence risk on your project in the video below.

 

Read more articles about risk.

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how strategy adds risk to projects

Posted on: December 07, 2018 09:08 AM | Permalink | Comments (7)

3 Tips for Better Virtual Meetings [Video]

Categories: video, virtual teams

Virtual meetings can be a huge time and cost saver, but the last thing you need is to be stuck on project calls that take up all day.

If you’re anything like me, I’m sure you will have been on calls where you’ve sneakily gone on mute because the meeting isn’t relevant to you, or you have nothing to add, or some other reason. While it’s better not to multi-task during a virtual meeting, and even better to not go to meetings that aren’t relevant for you, sometimes virtual meetings are a must.

You can make virtual meetings better. This quick video shares 3 easy tips for making virtual meetings that little bit more productive for everyone.

These tips came from a fantastic presentation on virtual meetings at a PMI event by Dr Penny Pullan. You can read more about that presentation here.

Pin it and watch later:

virtual meeting tips

Posted on: November 12, 2018 11:59 PM | Permalink | Comments (8)

3 Things I Wish I Had Known About Project Budgeting [Video]

Categories: budget, video

I’ve been managing projects for a long time, and I’ve had budget responsibility (at least for the tracking, if not the actual spending) since virtually the beginning. In this short video I summarise 3 things I wish I had known about project budgeting. These are the hard-won tips that I’m sharing so you don’t have to make the same mistakes or wonder the same things!

Read more here: http://www.projectmanagement.com/blog/The-Money-Files/7491/

 

Posted on: May 17, 2018 11:59 PM | Permalink | Comments (5)
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