Young PM - challenges with budgeting and risk management

Hello Summet,

A few articles on Capex vs Opex:
https://www.comindware.com/blog-what-is-capex-and-opex/
https://www.projectmanagement.com/blog-pos...operating-cost-
https://www.speak2impress.com/post/a-simpl...and-their-usage
https://www.educba.com/capex-vs-opex/


Best way to understand the capitalization of costs is to approach someone in your financial department as they will be the best suited to help you with real examples from your job.

Concerning the risk management, you can try to do some simple exercices (https://www.pmi.org/learning/library/risk-...ject-teams-8289 for example or try to search on Google or enroll in some courses (https://courses.edx.org/courses/course-v1:...2T2018/course/) where there will be case studies for you to practice.

Do not rely a lot on the theory and try to put in practice with simple examples. Imagine you are building a new floor for your house and you are the project manager. What would be the budget? How would you categorize different expenses? What might be the risks ? What would you respond to those risks?
Take any example from your day to day life that feels easier to manage (building a lego, cooking a meal, etc) and project manage it. Try to do this from time to time and then cross this knowledge with the more "complex" side (I think it would be better to say more specific to your domain) of your own business/IT projects. There are a lot of parallels and once again you do not have to make it complicated.

I hope this might help!