Digital Transformation Journey in Finance

Epicflow Blog

Why Is Digital Transformation a Must for Finance Field? Artificial intelligence is becoming a trend in Finance’s digital transformation journey. AI has especially great potential in the following finance fields: anti-money laundering, fraud detection, personalised financial planning, and process automation [2]. And these figures are growing day by day, making Blockchain a perspective area of Finance. . Artificial Intelligence in Finance.

Digital Transformation Journey in Finance

Epicflow Blog

Why Is Digital Transformation a Must for Finance Field? Artificial intelligence is becoming a trend in Finance’s digital transformation journey. AI has especially great potential in the following finance fields: anti-money laundering, fraud detection, personalised financial planning, and process automation [2]. And these figures are growing day by day, making Blockchain a perspective area of Finance. . Artificial Intelligence in Finance.

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Estimating Business Finances With A Budget Proposal Template

Techno-PM

Budget Proposal Template The most effective way for you to estimate your business finances is to create a successful budget proposal template. For example, if you view budgeting your finances as a burden which you would rather not deal with, the chances are you could be setting yourself up to fail from the outset. It helps ease manage finances and helps keep a track of expenses.

Operations, Finance, and Accounting for the Development of Software

Herding Cats

A Scrum of people works very well when doing Scrum , but operations, finance, and accounting are not the same as writing software for money. A Scrum of cost accountants, planner, finance, and operations people is called Chaos. It's common to hear, projects are overhead, we just need to get the value to the customer as fast as possible. This seems to be a lament from agile developers. Anything getting in the way of them coding is seen as an impediment. . Here's a little story.

Thoughts on Suggestions That Violate Principles of Finance, Probability, and Statistics

Herding Cats

The conjecture that we can manage in the presence of uncertanty without estimating the impacts of our decisions, willfully ignores uncertainties in the present and future that will impact our outcomes, the external governance frameworks of managerial finance, probability and statistics of the processes under management, and regular governance processes and the decision rights of those governance frameworks.

A Beginner's Guide to Variance Reports

GoSkills

Finance Project ManagementWant to learn the in's and out's of one of the most common accounting reports? Then check out our guide to variance reports.

2020 98

Getting Financial and Clinical Professionals Working Together On Healthcare Projects

Celoxis

best practices Blog collaboration Leadership Project Management work culture celoxis clinical professionals collboration finance finance professionals healthcare patient welfare project managementHealthcare continues to evolve worldwide under the pressure of lowering costs while maintaining or, even, increasing quality. The relationship between the two is like a “tug of war” between cost and benefit, which every healthcare establishment must face on a daily basis.

Feeling the pressure

Musings on Project Management

There are deadlines, penalties, [finances], and [executive changes]. " [The concern my some is] that with all good intentions, some project managers might start cutting corners. It's easily done. Don't be fooled by the trappings. This sort of success comes with a lot of pressure. PMs] are stuck in the middle. Priorities can become murky. It would be natural for some to feel the pressure and Quality risk decision Risk Management

2020 163

Project Cost Management: What You Need to Know and Do

Online PM Courses

But there's little your sponsor, client, or Finance Director care about more than your budget and how you control it. Project Cost Management is hard. The post Project Cost Management: What You Need to Know and Do appeared first on OnlinePMCourses.

IR35 in the private sector – Update

Arras People

Whilst many contractors celebrated the decision postpone the implementation of IR35 Off-Payroll Working changes earlier in the year; the legislation is slowly creeping through the Houses of Parliament as part of the Finance Bill, ready for implementation in April 2021.

2020 199

Think top-down and bottom-up for agile transformations

Kiron Bondale

This is critical with agile transformations for a number of reasons: Delivery teams don’t work in isolation and hence buy-in to change how things are done will be needed from all supporting areas including human resources, finance and procurement.

2020 206

Lessons in How to Drive Large Scale Digital Transformations

Clarizen

Cisco Capital resides within the larger finance function within Cisco, Inc. Their primary function is to provide financing for Cisco customers and partners, and they do that by providing traditional financing solutions and extended payment terms in over 100 countries.

2020 105

Alternative Project Management Job Titles

Project Bliss

This could include technology, events, branding, engineering, marketing, or even finance. . Photo by Nick Morrison on Unsplash. This list of project management job titles can help if you need to find other names for the role.

2020 156

Expert Advice on How to Start a Successful Business Transformation

Clarizen

Cisco Capital resides within the larger finance function within Cisco, Inc. Their primary function is to provide financing for Cisco customers and partners, and they do that by providing traditional financing solutions and extended payment terms in over 100 countries.

2020 102

Budget 2020: What Does it Mean for the PM Domain?

Arras People

Their statement read: “The Government believes it is right to address the fundamental unfairness of the non-compliance with the existing rules, and the reform will therefore be legislated in Finance Bill 2020 and implemented on April 6, 2020, as previously announced.”. I’m sure like me, many of you were keeping an eye out for Chancellor Rishi Sunak’s first Budget presented last week, keen to learn what implications it would have for the PM domain going forward as well as coronavirus.

2020 185

12 Ways to Create A Positive Work Culture

Girl's Guide to PM

About the author : Anna Erdmanska, PMP, is a project management enthusiast, leading projects in multinational corporations for the finance industry. Anna is a Professional Scrum Master, PRINCE2 Practitioner and she is currently working on a PhD in Finance Management.

2020 306

Why Identifying as a Project Business is Critical For Success

The Lazy Project Manager

and became Microsoft’s ERP offering, now called Dynamics 365 Finance & Operations. The following article is the first of four in a series on ‘Project Business’ and is authored by Daniel Bévort.

2020 210

It is harder to sell when times get tough!

Kiron Bondale

I’ve even run across some project finance analysts who are well trained in the correct treatment of sunk costs to be guilty of this sin. While there are many cases where we might have to use our powers of influence and persuasion to sell stakeholders on supporting what we feel is the right thing, I thought I’d share three specific examples which might be a much harder sell than usual.

2020 139

Dynamic Planning: Refocus, Reprioritize, and Reallocate Rapidly

Planview

Nearly 70 percent of finance leaders are taking cost containment measures and considering postponing or canceling planned investments, according to PwC’s COVID-19 CFO Pulse Surveys (March 30, 2020 and April 13, 2020). EPMOs and Finance, together, can ensure the leadership team is making the best decisions now and for the future. Finance, collaborating with EPMOs, can create more flexible funding models in response to change.

“Organize Around Products/Services” is a great addition to the Disciplined Agile principles

Kiron Bondale

Such transformations require change to happen in not only the delivery teams within an enterprise, but also supporting functions such as finance, human resources, operations and procurement. The Disciplined Agile (DA) principles were recently refactored and as part of this refactoring, a principle was added: “Organize Around Products/Services” While it is just one of the eight principles, this new one aligns very well with lean thinking.

2020 167

How to Monitor Daily Progress as a Project Manager

ProjectManager.com

People love to monitor everything, from their weight to their finances, so it’s only natural that managers want to monitor daily progress on their projects. Everyone is always monitoring everything, from their weight to their finances. We monitor our finances. Jennifer Bridges, PMP, shows you how. Here’s a screenshot of the whiteboard for your reference. In Review – How to Monitor Daily Progress as a Project Manager.

Three C's of PM

Musings on Project Management

Usually, I say the 'three C's' of PM are: Communicate Communicate Communicate Which, in actionable terms are: Tell them what you're going to tell them Tell them Tell them what you told them But, as I view the PMO through the lens of a small business, I'm wondering if the daily thought of a PM doesn't go to: Capital (meaning project financing) Community (largely virtual these days) Project Management

2020 174

How To Become A Project Manager: The Ultimate Guide

Project Bliss

Some examples are Administrative Assistant, Business Analyst, and Finance Analyst, but these are only a few. Have you wondered if project management was a good career path for you, and if so, just how to become a project manager ?

2020 156

Overcoming bias in project management

Girl's Guide to PM

About the author: Roland Hoffmann, who founded Hoffmann Conseho in 2007, has spent 20 years leading projects in technology, construction, marketing, operations and finance. This is a guest post by Roland Hoffmann. Are you biased as a project manager? You might be surprised! In this article we’ll talk about the different types of bias in project management. Roland Hoffman. A project manager is the linchpin of a successful project.

2020 259

Five Professions That Make Great Project Co-ordinators

Arras People

Finance. With a good foundation in finance – the other aspects of project co-ordination – like planning, documentation management, reporting and so on will come with basic training and on-the-job experience. I recently held a project management careers clinic with someone who was wanting to get into a project management role.

2017 181

Making Better Business Decisions with Continuous Planning

Arras People

First, you need to open up a dialogue between the business functions – including finance, the PMO, and other lines-of-business. Adapt to change: When operations and finance have access to the same information, they can be flexible when it comes to change, not sidelined. Ultimately, the PMO can create and nurture a partnership with finance and the business to drive prioritization and effective portfolio management.

2017 161

Get the ‘Right’ Project Controls & Enterprise Programme Management You Want

Arras People

Finance management. Project management consultancy Dada Enterprises has released a copy of the webinar it presented on designing the ‘right’ Project Controls Solutions for an organisation. Although the benefits of an effective Cost Management system are well known too often most companies rely on a hotchpotch of legacy systems with manual re-entry of data in different systems with excel being relied upon to cut-and-paste integrated reports together.

BEST TASK PLANNING SOFTWARE

TimeCamp

Others believe it to be finances. There are certain measures to be taken if a business is to be thriving and the risk of its failure mitigated. Some people consider the idea in the core of a project to be a key question which needs to be kept in one’s mind. All of them are […]. Project Management azendoo best task planning software drinkle spiraplan task planning task planning software time tracking TimeCamp timecamp task planning trello

Free project management certifications

Moira Alexander

Project Risk Assessment - a self-paced course on how to conduct risk analysis of different projects using both conceptual and practical developments in modern finance. Business Management - covers how to master the essentials of managing a successful business including accounting, finance, marketing, operations, people management, and strategy.

Quote of the Day

Herding Cats

Finance is a pure information processing game. Managerial Finance and Microeconomics of decision making in the presence of uncertainty is the foundation of project management processes. A lot of people in the business are doing things that should be done by computers - David Shaw. These two core processes require making estimates of the cost, schedule, risk, technical performance of the products and services, and the value produced by these outcomes in the presence of uncertainty.

Why Productivity in Project Businesses is Flatlining?

The Lazy Project Manager

and became Microsoft’s ERP offering, now called Dynamics 365 Finance & Operations. The following article is the part two in a series of four on ‘Project Business’ and is authored by Daniel Bévort – part one certainly seemed to draw some interest and some comment so please, like, share and comment on this one as well. Project Business is a significant portion of all companies.

2020 173

Improving portfolio management must be part of an agile transformation

Kiron Bondale

Rather than having business executives, finance analysts and PMO staff spending weeks coming up with the perfect roster of projects for the next year only to realize a month or two into the year that their plans have been disrupted by domino effect delays, new priorities or resource shortfalls, portfolio planning needs to be an ongoing activity. When we think of an agile transformation, improving portfolio management might not be high on the organization’s list of priorities.

2017 138

How to Deliver Effective Project Cost Management | Video

Online PM Courses

But whatever your attitude to it, there's nothing your finance director will care about more. Project Cost Management can seem both dull and difficult. The post How to Deliver Effective Project Cost Management | Video appeared first on OnlinePMCourses. Project Cost Management Step-by-step Guides video

Impacts of traditional project funding models on agile delivery

Kiron Bondale

A key enterprise partner is the Finance department and the organization’s model for project funding will have significant influence over successful agile delivery. In one of my previous articles I’d written about the need for change across multiple areas of an organization when undertaking an agile transformation.

2018 153

Parabol: Improve your retrospectives

Girl's Guide to PM

The benefits of Parabol are: Can be used on premise (Parabol has military, finance and healthcare customers who are unable to use cloud tools) Parabol offers 5 retro templates—including my favorite, Start, Stop, Continue—and you can add your own templates, even in languages other than English.

2020 369

What To Do When Your Team Doesn’t Believe The Project Schedule

Girl's Guide to PM

You’ve just got one day for budget approval,” said Claire from Finance. This is an extract from Project Pain Reliever. I contributed this chapter (and another one) to the book. This one is about ensuring everyone buys into the project schedule. The One-Man Plan: A Story.

2020 326

Strategic Planning in Business

ProjectManager.com

What are the changes to structure, financing, etc., Decide on the best way to implement those changes, the timeframe with deadlines and how to finance it all. Businesses thrive on certainty, and yet, the future is never certain. That’s why smart businesses plan for the future as best they can through strategic planning. You can’t know what will happen, but you can know what you want and where you want to be when it happens.

How to Successfully Execute a Plan

ProjectManager.com

You might have to get approval to increase the budget, get more finances or partner with someone. In some cases, we may need to finance new cost, we may need to set up a payment plan, or we also may consider partnering with another strategic partner and set up maybe a revenue share that can offload some of the cost, but be able to share some of the revenue. Planning is the backbone that holds up any project.

What Can a Project Manager Do Next? The Project Manager Career Ladder

Project Bliss

You need to understand risk and finances, and evaluate projects based on ROI. You’d also oversee budgeting and work with Finance and stakeholders to determine budget forecasts and projections for the year. Have you ever wondered what career path could be next on the project manager career ladder? There are many possible options where you can apply the valuable skills you’ve honed as a project manager.

2017 198

4 Unusual Reasons Why Stakeholder Management Is Important

Girl's Guide to PM

Get an enthusiastic stakeholder from Finance to talk you through it. Why is stakeholder management important to project success? Because we need people to get the project work done. However, stakeholder management is a very narrow way of looking at how we work with people on projects to achieve a common goal. A better question would be, “Why is stakeholder engagement important?” ” Let’s park that for the moment.

2020 242