Learn to manage and communicate the financial status and impact of your projects with senior management.
Projects are defined by three critical elements, the work or scope to be done, the timeframe or schedule in which to do it, and resources or budget needed to pay for it. Project managers are often in control of planning and managing the first two, but the third one, the project budget is often controlled by the organization's finance department. For this reason, project estimates, cost tracking, forecasting, and return on investment (ROI) are often a mystery to them. When the project manager does not understand an aspect of the project, they cannot manage and control it. This topic will help you understand the principles of project budgeting and financial tracking. The material will present tools and techniques of project estimating, tracking forecasting and ROI calculations will be illustrated. In addition, the unique challenges associated with project financial management will be presented and discussed. Projects, by their very nature, have an element of uncertainty, yet when it comes to financial matters, most businesses are averse to financial uncertainty. This information is critical for project managers so they can both manage and accurately communicate the financial status and impact of their projects with senior management.
Agenda
Faculty
Raymond Sheen
Product and Process Innovation, Inc.
- President of Product and Process Innovation, Inc.
- Practice focuses on the successful implementation of new technologies for an organization, this includes the technical performance, the effectiveness of the implementation, and the organizational response to the technology change, recently, most of the work has been training and consulting with respect to digital transformation
- Certified as Project Management Professional (PMP) and as a Scrum Master, he has been teaching these topics for over 20 years through organization such as Worcester Polytechnic Institute, Clemson University, and the China Institute for Innovation, in addition, he has provided training and consulting in this field directly to Fortune 100 clients on three continents
- Author of the books, HBR’s Building Your Business Case and Demystifying Earned Value Analysis; co-author to ; has written several articles related to this topic, one of which is the blog article: https://ray-sheen.blogspot.com/2015/09/ten-steps-for-project-estimating.html
- Member of Project Management Institute (PMI) and the Institute of Electrical and Electronic Engineers (IEEE), also selected as a Fellow at the Institute for Digital Transformation
- M.S. degree in astronautical engineering, Massachusetts Institute of Technology; B.S. degree in mechanical engineering, U.S. Air Force Academy; graduate certificate in digital transformation strategy, Boston University
- Can be contacted at 864-430-1880 or [email protected]
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