Monitoring And Controlling Projects

Make your budget process smoother! Use my checklist based on my 15 years of experience. 🔗 Download it here: https://lnkd.in/edvf5exs Here is what is inside: 1️⃣ Preparation & Planning 🔲 Understand management's expectations concerning growth, strategy & profitability 🔲 Set clear financial goals and differentiate between short and long-term objectives 🔲 Establish a structured approach for managing the budget process (deadlines, owners) 🔲 Ensure that budgeting activities align with the organization’s overarching goals and priorities Tip: you can use ChatGPT to draft your budget instructions or budget memo. If you want to learn how to use ChatGPT for Finance, you can learn it here: https://lnkd.in/e8RGdYsK 2️⃣ Sales Planning 🔲 Choose an appropriate method for sales planning 🔲 Detail your budget sufficiently for effective analysis 🔲 Consider external factors like market trends, economic conditions impacting the business 🔲 Ensure accurate phasing of the sales plan 🔲 Conduct 'what-if' analysis to understand impacts on resources and profitability 3️⃣ Operational & Resource Planning 🔲 Plan for production, delivery, and workload 🔲 Account for direct headcounts & determine capacity 🔲 Determine material needs and plan for necessary investments 🔲 Collaborate with cross-functional teams to develop a comprehensive operational plan 4️⃣ Costing & Overhead Planning 🔲 Compute standard costs: direct labor, material costs, and manufacturing overhead allocation 🔲 Budget for individual departments and allocate overhead costs accordingly 5️⃣ Financial Statements & Reporting 🔲 Translate the budget into key financial statements: Income Statement, Balance Sheet, & Cash Flow 🔲 Establish a structured reporting process to communicate budget-related information to stakeholders 🔲 Create a visual budget performance dashboard to quickly assess the financial performance 6️⃣ Monitoring & Analysis 🔲 Regularly monitor and analyze budget variances to identify deviations 🔲 Perform sensitivity analysis to understand potential impacts on the budget 🔲 Leverage financial data analysis tools to identify trends, patterns, and opportunities for improvement 7️⃣ Communication & Collaboration 🔲 Foster open communication and shared financial goals in relationships, both internally and externally 🔲 Engage with stakeholders from different departments to gather valuable insights 🔲 Develop and communicate clear budgeting policies and procedures 8️⃣ Final Review & Implementation 🔲 Review the budget for any inconsistencies or errors 🔲 Communicate the finalized budget to all relevant departments and ensure its implementation 👉 Did I miss anything? Get this checklist to organize your budget process. Link below in comments.

If I wanted to break into Data Analytics in 2024, these are the 4 types of projects and skills I'd include in my portfolio. A lot of people will tell you a magic formula-- "you need exactly 3 Tableau projects, 2 SQL projects, and an Excel project"🤡 I promise you, no one is out there looking to see Excel projects in portfolios LOL! Instead of focusing on checking boxes to complete the perfect formula of the right number of tools and projects, focus on the types of analyses to show the right quality of skills: 1. An EDA (exploratory data analysis) Skills Shown: investigation, problem solving, curiosity, data viz, developing insights and trends, communication 2. A Dashboard Skills Shown: data viz, developing KPIs and metrics, storytelling, answering business questions, pushing to prod 3. A Full Stack Project Skills Shown: Data cleaning & prep, ETL, data modeling, data viz, business recommendations, and storytelling 4. A Funnel Analysis Skills Shown: Data prep and wrangling, translating a business problem into data, project scoping, developing insights, making business recommendations to stakeholders, and storytelling (check out my payment funnel analysis in my course Solve Real-World Data Problems in SQL!) You could accomplish all 4 of these types of analyses in 1 big project. Or you could show them all separately. It doesn't matter how you do it. But whatever you do, stop taking courses and start doing THIS!⚡️ Happy Monday to all my BDEs⚡️💕

I See a Huge Gap in Project Management Today It's not the tools. It's not the certifications. It's not the frameworks. It is leadership. Real, human-centered leadership. We have too many PMs: → Who can build the perfect plan, but freezes when the room gets tense. → Who can report a risk, but cannot navigate stakeholder politics. → Who can run the meeting, but cannot steer the decision. Projects do not fail because the spreadsheet was wrong. They fail because: → No one spoke up. → No one questioned the assumption. → No one led when it counted. The gap is not knowledge... It's confidence. It's emotional intelligence. It's knowing how to guide people when the pressure is high. Project management is not just about execution. It's about people. It's about presence. It's about trust. The next generation of project managers will NOT be measured by how well they track work. They will be measured by how well they move people forward, with clarity, empathy, and purpose. Project management is eighty percent people. And most of the industry still treats it like a process. That is the gap. That is the opportunity. That is where the best PMs rise. We do not just manage tasks. We lead humans through uncertainty. We hold the tension. We protect the momentum. We create clarity where none exists. And the future belongs to those who can do both. Where do you see the most significant gap in project management today?

We can’t predict the future. But we can approach it more systematically. That’s where futures thinking (or strategic foresight) comes in. And it’s a critical part of good strategic design. You’ll often hear futurists say: “Foresight precedes strategy.” That’s only true if we treat strategy as a fixed plan, built in a linear way. When we instead see strategy as a testable hypothesis, futures thinking becomes more powerful. The two start to shape each other. One of the hardest parts of futures work is that it asks us to question our own values and beliefs. At its best, it creates a scaffold that helps people think the unthinkable. Here’s how futures thinking shows up in my strategic design practice. FRAMING AND SCOPING Getting alignment early matters. Futures tools can be used for different challenges, so framing the right question is essential. Clear scope and shared intent give the work its best chance of success. SCANNING Often called horizon scanning. This is where we lift our gaze and look for weak signals of change. These early signs can point to larger shifts ahead. They form the raw material for scenarios, alongside drivers of change and, to a lesser extent, trends. UNDERSTANDING IMPACT Not all signals matter equally. We explore which ones could have the biggest impact, or where uncertainty is highest. Tools like impact wheels and probability–impact matrices help build shared perspectives and increase situational awareness. SCENARIOS Scenarios turn signals into stories about alternate futures. They help us test assumptions, surface risks, and spot opportunities. Importantly, they let us rehearse decisions before we have to make them. STRATEGY FORMULATION In a linear process, strategy is the end point. In a complex world, that rarely works. Rather than a single plan, I’m interested in strategy as a system. New information about the future feeds into decisions in regular cycles, not as a one-off exercise. This is only a personal snapshot. Each stage has more depth and nuance, and many practitioners would break this into more steps. Because I also work with a complexity lens, I’m less interested in futures as a way to design an ideal future and “close the gap”. For me, the real value of futures thinking is its ability to: - Broaden what we notice - Challenge hidden assumptions - Build resilience in strategic decision-making Futures thinking isn’t a silver bullet. But its value grows when it’s used alongside other complementary practices. It expands what we can imagine, while understanding complex adaptive systems helps us respond to what’s emerging in the present. #StrategicDesign #FuturesThinking #Strategy #DesignThinking #StrategicForesight

💎 How To Track Your Impact (+ free Notion templates). How to document your small and big wins, visualize your work and the incredible impact you've made ↓ We often assume that good work speaks for itself. If we just work hard enough, our work will get noticed and we will be elevated across our career ladder. Yet more often than not, your achievements will get lost somewhere between reorg efforts, new priorities, abandoned initiatives and urgent deadlines. Managers change all the time. You might have a strong relationship with your manager already, but never get a chance to move up the ladder because they have already moved to another team. A new manager, despite all your efforts, often won’t be able to promote you as an internal policy might block any new promotions in their first 6 or 12 months. So you’ll have to start over again. A good way to push back is to have a “brag document” — a running document that lists your small and big achievements, feedback from your managers and colleagues, screenshots of your appraisals and recommendations, along with lessons you’ve learned. It also builds confidence in your abilities and helps you better see your career trajectory. Useful things to include: 🧠 New skills you’ve learned 🏅 New certificates you’ve acquired ⏱️ Impactful projects you’ve leaunched 🧪 Experiments or A/B tests you’ve initiated 🧭 Product metrics you’ve moved 👋 Onboarding sessions you helped with 🚀 Changes you’ve initiated 🗣️ Workshops you’ve conducted 🧑🏫 Mentoring sessions you’ve coached 🌟 Endorsements you’ve received 🤝 Collaboration wins across departments 🧹 How you’ve dealt with design debt 📦 Successful scoping and getting buy-in 🛠️ Tools or systems you’ve introduced 🔧 Bugs or issues you proactively resolved 📣 Coordinating communication in teams 🔮 Lessons you’ve learned 🧯 Conflicts you’ve resolved There are plenty of things that can go in such a document. Typically it’s a simple Notion page or a Google Doc that you set up once and keep updating regularly. One useful habit that can help there is to always update the document after a retrospective session with your team and around a month later. The reason for that is that you’ll need to accumulate and add concrete evidence and results of the impact of your work. Typically business metrics are lagging metrics, so it will take a while until you get some results. One word of caution: it doesn’t work well if you update in huge and bulky batches as memories become a bit blurry and details get lost. Also, don’t think just about the design work — work also happens outside of the design work as we saw in the list above. Also, as Stephen Kernan noted once, whenever possible, try linking your accomplishments to the career ladder one level above your current role. If you can prove that you’ve been performing at the next level for past 3-6 months, you will make the case for your promotion strong and more obvious. (Useful templates in the comments below ↓)

You spend time crafting the perfect update. And then? Crickets. Not even a "Thank you" It's not that executives don't value your work. They just don't have time to decode it. They're not scanning for detail. They're scanning for decision points. So here's the fix: Use the B-I-R Framework: Bottom Line. Insight. Risk. 1) Bottom Line: "Customer adoption is up 12% this quarter." 2) Insight: "Feature X is driving the lift - especially with enterprise clients." 3) Risk: "But onboarding time is dragging - could stall the next wave of growth." BONUS: "Here is my suggestion for next step" Short. Strategic. Skimmable. One clear update in this format beats three status meetings. Because execs don't want information. They want insights. Make their lives easier - and they'll read every word. (I know because I loved getting these kind of updates as a VP)

IFRS 18: A New Era for Financial Reporting The International Accounting Standards Board (IASB) has released IFRS 18 : Presentation and Disclosure in Financial Statements (April 2024), reshaping how organizations present and communicate their financial performance. The focus is clear: greater clarity, comparability, and transparency. While the standard doesn’t alter how profit is measured, it transforms how it’s told; standardizing structure, improving disclosure, and aligning global reporting practices. Key developments to note: 1️⃣ Structured income statement – All income and expenses must be classified into five categories: operating, investing, financing, income taxes, and discontinued operations. 2️⃣ New mandatory subtotals – Companies must now present operating profit or loss and profit or loss before financing and income taxes. 3️⃣ Management-defined performance measures (MPMs) – Non-GAAP figures like “adjusted EBITDA” must be disclosed transparently, reconciled to IFRS subtotals, and explained in detail. 4️⃣ Aggregation & disaggregation – IFRS 18 raises the bar for how items are grouped and presented, ensuring material information is clear and not lost in the fine print. 5️⃣ Effective date – Applicable for periods beginning on or after 1 January 2027, with restated comparatives and early adoption permitted. This isn’t just a compliance update, it’s a strategic opportunity for finance leaders to enhance reporting quality, strengthen investor confidence, and align performance communication with global best practices.

Strategic planning just got an AI upgrade – and it's a game-changer. Thrilled to share my latest #Fortune column, co-authored with some of my former colleagues at Boston Consulting Group (BCG). The reality: Even the best strategic planning suffers from human limitations – our biases, groupthink, and tendency to anchor future scenarios in past experience. When volatility rises, these constraints become dangerous blind spots. The breakthrough: Multi-agent AI platforms that simulate complex strategic scenarios with human-like behavioral patterns, but without human cognitive limitations. Think of it as having a boardroom full of AI agents – each playing regulators, competitors, customers, and other stakeholders – stress-testing your strategy 24/7 at a fraction of traditional costs. What we're seeing in practice: AI simulations identifying the same strategic moves as human workshops – plus new options humans missed entirely "Unknown unknowns" becoming "known unknowns" through expanded scenario modeling Strategic planning becoming more frequent, scalable, and accessible across organizations Leaders building confidence through pattern recognition across multiple simulation runs This isn't about replacing human strategic thinking. It's about augmenting it with tools that can explore a vastly wider range of futures, faster and cheaper than ever before. In an era where resilience drives outperformance, the organizations that upgrade their strategic planning capabilities first will have the advantage. Read the full piece: https://lnkd.in/eUNDT2WZ #AI #StrategicPlanning #BusinessStrategy #Leadership #GenAI #ScenarioPlanning #DigitalTransformation Leonid Zhukov, Ph.D, Maxwell Struever, Alan Iny Elton Parker David Zuluaga Martínez

𝐈𝐅𝐑𝐒 18: 𝐖𝐡𝐚𝐭 𝐄𝐯𝐞𝐫𝐲 𝐂𝐅𝐎 𝐍𝐞𝐞𝐝𝐬 𝐭𝐨 𝐊𝐧𝐨𝐰 𝐁𝐞𝐟𝐨𝐫𝐞 2027 Starting 1 January 2027 (early adoption permitted), IFRS 18 will officially replace IAS 1, bringing a major shift in how income statements are presented. As a CFO, this change isn’t just about formatting — it’s about 𝐡𝐨𝐰 𝐲𝐨𝐮𝐫 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐬𝐭𝐨𝐫𝐲 𝐢𝐬 𝐭𝐨𝐥𝐝 to investors, regulators, and stakeholders. What’s New? IFRS 18 introduces three mandatory categories on the face of the income statement: 1. 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 2. 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 3. 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠 No more mixed practices. No more gray areas. The goal: consistent, comparable, and decision-useful financials across companies and industries. Practical Examples CFOs Should Watch For: A. Interest Expense on Lease Liabilities • Old way (IAS 1): Often reported in finance costs – inconsistently applied • New way (IFRS 18): Must be reported under the Financing category B. Revenue & Cost of Sales • No change: continues under the Operating category C. Investment in Associate • Old way (IAS 1): Often below operating profit or varied by entity • New way (IFRS 18): Clearly classified under the Investing category Why This Matters for CFOs: - 𝘐𝘯𝘤𝘳𝘦𝘢𝘴𝘦𝘥 𝘴𝘤𝘳𝘶𝘵𝘪𝘯𝘺 𝘧𝘳𝘰𝘮 𝘢𝘯𝘢𝘭𝘺𝘴𝘵𝘴 𝘢𝘯𝘥 𝘣𝘰𝘢𝘳𝘥𝘴 𝘰𝘯 𝘵𝘩𝘦 𝘥𝘪𝘴𝘵𝘪𝘯𝘤𝘵𝘪𝘰𝘯 𝘣𝘦𝘵𝘸𝘦𝘦𝘯 𝘤𝘰𝘳𝘦 𝘰𝘱𝘦𝘳𝘢𝘵𝘪𝘰𝘯𝘴 𝘷𝘴. 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘯𝘥 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘯𝘨 𝘢𝘤𝘵𝘪𝘷𝘪𝘵𝘪𝘦𝘴 - 𝘕𝘦𝘦𝘥 𝘵𝘰 𝘳𝘦𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘦 𝘪𝘯𝘵𝘦𝘳𝘯𝘢𝘭 𝘳𝘦𝘱𝘰𝘳𝘵𝘪𝘯𝘨 𝘢𝘯𝘥 𝘴𝘺𝘴𝘵𝘦𝘮𝘴 𝘵𝘰 𝘢𝘭𝘪𝘨𝘯 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘯𝘦𝘸 𝘤𝘭𝘢𝘴𝘴𝘪𝘧𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘮𝘰𝘥𝘦𝘭 - 𝘖𝘱𝘱𝘰𝘳𝘵𝘶𝘯𝘪𝘵𝘺 𝘵𝘰 𝘪𝘮𝘱𝘳𝘰𝘷𝘦 𝘵𝘳𝘢𝘯𝘴𝘱𝘢𝘳𝘦𝘯𝘤𝘺 𝘢𝘯𝘥 𝘢𝘭𝘪𝘨𝘯 𝘮𝘰𝘳𝘦 𝘤𝘭𝘰𝘴𝘦𝘭𝘺 𝘸𝘪𝘵𝘩 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳 𝘦𝘹𝘱𝘦𝘤𝘵𝘢𝘵𝘪𝘰𝘯𝘴 𝐓𝐡𝐞 𝐭𝐢𝐦𝐞 𝐭𝐨 𝐩𝐫𝐞𝐩𝐚𝐫𝐞 𝐢𝐬 𝐧𝐨𝐰. Transitioning early could help your company lead in transparency, avoid surprises, and gain investor confidence. #CFO #IFRS18 #FinancialLeadership

Budget vs. Performance One of the most common complaints from marketers is that their CEO or board won't allocate more budget to their campaigns. While it’s true that some CEOs might not prioritize marketing as highly as other areas, all CEOs are eager to invest in strategies that demonstrably drive business growth. Imagine your marketing budget as a garden. With a small plot, you need to be meticulous about what you plant and how you nurture it. Your goal is to make that small garden flourish so abundantly that the CEO can’t help but notice its potential. Anyone can run campaigns with a big budget. But scaling campaigns with a lean budget? That's a rare superpower. If you've pulled it off, give yourself a high-five! During this phase: - Don't shy to over communicate - Triple check your basics Keywords, Copies, Landing pages, Forms, CTAs, Negatives, Targeting, Bid strategy etc - Only run pilot campaigns which you're 200% confident with - Share proactive updates to sales and let them know you're paying for a call. - Listen to the sales calls recordings Here’s a step-by-step analogy to help illustrate this process: 🌱 Planting Seeds (Initial Budget): Start with your initial marketing budget, no matter how small. Focus on the highest ROI activities—these are your seeds. Choose campaigns that are known to generate measurable results. 🌵 Nurturing Growth (Optimization): Just like a gardener tends to their plants, monitor your campaigns closely. Optimize and iterate to ensure you’re squeezing every bit of performance from your budget. This is where your skills and creativity come into play. 🏡 Harvesting Results (Impact Demonstration): Show the fruits of your labor. Use data and analytics to present clear evidence of how your limited budget is driving growth. This is your harvest, the tangible proof of your efforts. 🥗 Scaling the Garden (Requesting More Budget): With a successful harvest, go back to the CEO or board. Present your case with solid data, highlighting the potential for even greater growth with increased investment. Just as a gardener might show a bountiful harvest to justify expanding their garden, you need to show the ROI of your marketing efforts to justify a larger budget. Virtually a 100% success rate if you follow the above process. Also you're not alone on this! #adsbudget