Introducing Financial Management and Principles for Project Managers
In this video, I will be introducing financial management and principles for Project Managers
PMBOK, PMI, PMP, CAPM
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01:10 – Company Strategy and Projects
02:25 – Pro-forma Statements
03:25 – Overview of Portfolio, Sub-portfolios, programs, and projects
04:05 – Complexity of the portfolio
05:00 – Other reasons for projects
06:52 – Conclusions
Companies develop multi-year strategic plans that then are sub-divided into yearly plans.
Based on the yearly plans and the Pro-forma statements, programs, and projects are developed and executed to realize a part of the total strategic plan.
Budgets are allocated to fund programs and projects that are divided into portfolios and sub-portfolios.
Not all project relates specifically to realize company growth. However, projects can also relate to improvements and optimizations within the company.
Creating a portfolio is a complex matter in large corporations and the goal is to optimize the combined effect of all projects together.
As a project manager, you should be aware of this because all your decisions within programs and projects have to support the company strategy.
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