Is it crucial that a project manager know how to develop a business plan?
Mahalmadane TouréEngineer| National Headquarters of Geology and Mines of Mali (Bamako)Mali
Thanks to this website I know what is a business plan now I want to know if it's crucial that I know how to elaborate one as a project manager? Saving Changes...
Deepa KalangiManager, Program Management, Author, Trainer| CVS HealthCharlotte, NC, United States
Being on the IT side of the spectrum, you as an IT PM does not need to own, create a business plan, but you create the IT project plan. So, you don't need to per se, but always good to understand the plan.
It's better if PM is part of preparation of business plan but it is not a necessity. But PM must understand the business plan to understand the project requirements.
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1 reply by Mahalmadane Touré
Oct 18, 2017 5:58 PM
Mahalmadane Touré
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Thank you for your help.
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Joseph PanganSenior Principal Consultant| Genpact PhilippinesAngeles City, Philippines, Philippines
I am not sure in what context the question is.
If what you meant by a business plan is the company's corporate business strategic plan, then my answer is No.
Project managers does not need to know how to develop the company's business strategic plan although I am sure that project managers can develop such. The corporate business strategic plan is often developed by the company's senior management. Project managers must be aware of the business strategic plan and should know how to create business cases though for projects/initiatives and align these to the company's corporate business strategic plan. Often projects are prioritized with respect to the value that they may add to the corporate business strategy and goals.
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1 reply by Mahalmadane Touré
Oct 18, 2017 5:59 PM
Mahalmadane Touré
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Thank you for your help.
Saving Changes...
Mahalmadane TouréEngineer| National Headquarters of Geology and Mines of Mali (Bamako)Mali
Thank you for your help. Saving Changes...
Mahalmadane TouréEngineer| National Headquarters of Geology and Mines of Mali (Bamako)Mali
Oct 17, 2017 8:12 PM
Replying to Rami Kaibni
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I somehow agree with the above but it also depends on the organization. For big companies, yes, you might need only to know what it is for and what it includes but in many cases, when you work for smaller firms, you might be asked as a PM to develop the business plan.
Thank you very much for your help Mr Rami. I really appreciate it.
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1 reply by Rami Kaibni
Oct 18, 2017 2:02 PM
Rami Kaibni
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You're very welcome.
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Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
And to follow on Rami's answer, I would say that an experienced project manager should have the necessary skills and tools to put together a business case.
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Oct 18, 2017 12:06 PM
Replying to Stéphane Parent
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And to follow on Rami's answer, I would say that an experienced project manager should have the necessary skills and tools to put together a business case.
Does your organisation differentiate Business plan, business case and project plan?
If business plan are the project plan in your organisation, the answer is yes. like Rami and Stephane previously stated.
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1 reply by Mahalmadane Touré
Oct 18, 2017 6:00 PM
Mahalmadane Touré
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Thank you for your help.
Saving Changes...
Mahalmadane TouréEngineer| National Headquarters of Geology and Mines of Mali (Bamako)Mali
Oct 17, 2017 10:27 PM
Replying to Deepa Kalangi
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Being on the IT side of the spectrum, you as an IT PM does not need to own, create a business plan, but you create the IT project plan. So, you don't need to per se, but always good to understand the plan.
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