Project Profitability & Cash Flow

In this article I want to talk about project profitability and financial cash flow. This is not the monthly cash flow number you have to report to management, but the overall project financial cash flow and how it fits in with the capital budget and project profitability. The capital budget is a corporate plan outlining the planned expenditures for fixed assets. Capital budgeting is the process used by a plant to analyze projects and decide whether or not they should be in the capital budget. In the capital budgeting process, the cost of a project must be developed. The project... Read More»

Managing Up

We all know doing a great job is rarely enough to be successful as a manager. Sometimes, understanding the nuances of your boss' personality is a lot more important than how you actually perform on the job. I had a VP at one company that enjoyed yelling, "Jump!" and seeing how quickly everybody would comply. He wasn't malevolent; he just really enjoyed having a staff that waited on him. His admin waited on his every word. We joked that she removed people from his favourite stall when he needed to go to the restroom. But his style made everybody say,... Read More»

The Criticality of Common, Concrete Language

I have recently joined a company that is in its Project Management infancy, and I have come on board to assist in creating a PMO with all of the bells and whistles that will work for the organization. The company works in providing online software programs, and has been experiencing explosive growth over the last few years, which has opened up the need for structured Project Management within the organization. Putting in this structure offers a huge opportunity for improvement, but realistically is an uphill battle climbing a very steep mountain. I am always glad to see when an organization... Read More»