This is the last in our series on Project Management for Finance professionals. In conclusion, the remedies for the Top 10 Project Management Challenges can be summarized as follows:
Quick List of Forte Financial Project Management Tips
- Make sure objectives are clearly defined
- Involve end users – early and often
- Collaborative requirement definition
- Plan, plan, plan and revisit your plan
- Revisit budget and schedule often
- Plug in the right skills
- Staff according to estimates
- Ensure technology design allows for future modifications
- Foster strong senior management support
- Over communicate
- Keep your eye on the vital signs
Download our one-page Project Management Quick Reference guide here.
Leadership is Key
All of the remedies suggested in this series require strong leadership. Just as every project needs a Executive Sponsor (with a burning business need and a budget), every project needs a Project Manager.
Project managers may be full time or part time, in-house or a consultant. But they must be ultimately responsible for the project’s success and held accountable.
Finance professionals that find they leading a project for the first time should seek guidance. They can read project management books or take a class. Others may seek a mentor or hire a professional coach. Do not delay – your career may be at stake.
Project Management as a career opportunity for YOU
Increasing responsibility for process improvement is a career-making opportunity: a chance to not only develop their own talents but to promote growth for the finance team as a whole. Top finance leaders are honing their project management and change leadership skills in order to generate lasting value for their companies.
This is one of a series of posts on project management for finance professionals. The series features practical project management advice and tips for driving process change using technology. The series is archived here.