Project Funding

arlene trimble Assistant IT Director| Local Government Alamo, Ca, United States

What process do you normally undertake to secure project funding?

What important data elements do you normally include when requesting funding for a project?

Thank you.

Posted: Jul 16, 2015 4:51 PM

Sort By:

Eduard Hernandez

Community Champion

Product Operations Program Manager Barcelona, Cataluña, Spain

I believe that it is essential to have a detailed business case and ROI figures before shareholders take a decision whether to start a project or not.

So I would include a technical presentation of the product/service plus a business plan, which includes the funding needs. If accepted, then you are on your way!

Posted: Oct 16, 2015 7:31 AM

John Herman . Us, Aa, United States

A good Cost-Benefit-Risk Analysis in conjunction with some ROI numbers are a good start. Including a list of stakeholders and a Project Sponsor might also help sway things. Companies usually have their own processes for securing approval for a project and for a budget. These tend to me more formal with larger companies, and with larger budget projects.

Posted: Oct 16, 2015 12:34 PM

Anonymous

I echo Eduard and Johns comments here. I've done more then my fair share and it's quite simple when dealing with executives:

1) Evelator pitch
2) "the" numbers
3) A sponsor

The numbers really aren't standard, they very place to place. They do have to address what the executives approving this are comfortable with so don't try to impress with complicated models. Do your research here.

Also a sponsor, not the formal kind, but someone with political influence who you've met with and sold prior. Don't take this meeting for granted, it's your ticket.

Best of luck!

Posted: Dec 30, 2015 1:05 AM

Anonymous

Oct 16, 2015 12:34 PM

Replying to John Herman

...

John, you hit it on the head here. Companies all have their own processes and stage gates. Different methodologies, political environment. Coming from Bank of America, i'm sure you have a farily well defined process.

Posted: Dec 30, 2015 1:07 AM

Anonymous

Oct 16, 2015 7:31 AM

Replying to Eduard Hernandez

...

I have to disagree a bit with you here Eduard. Only on the point of a technical presentation. Always have a technical appendix with people who are approving money, typically high level executives, but make sure that you focus more on the business value and strategy.

What are your thoughts?

Posted: Dec 30, 2015 1:08 AM

Eduard Hernandez

Community Champion

Product Operations Program Manager Barcelona, Cataluña, Spain

Anonymous, I believe that we pretty much agree. It is true that when presenting the project to high level managers (i.e. MD, CEO) you do not want to dive too much into the technical aspects, and rather on the figures, strategy and risks. But you must be ready to answer technical questions that may arise, specially if the CEO or MD have a technical background and wish to learn more about the product or process.

Posted: Dec 31, 2015 7:34 AM

Please login or join to reply

Project Funding

Sponsors

Vendor Events

Guessing is not a strategy: How to build decision velocity with AI and real-time data

Newsletters