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. It’s a system that makes it possible to carry out transactions quickly and safely by eliminating risks like human errors.

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. It’s a system that makes it possible to carry out transactions quickly and safely by eliminating risks like human errors.

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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. At this stage, you will need to have knowledge of the risks present in your industry.

Seven Aspects of Project Risk in 2020

Strategy Execution | PMO Perspectives

Ahead of its January meeting in Davos, the World Economic Forum published its Global Risks Report 2020, based on the input of 750 experts and outlining the biggest risks faced by economies over the next 10 years [1]. And if the WEF didn’t see a risk coming, then what hope do we have?

2020 80

Strategic Risk Management and Projects

Strategy Execution | PMO Perspectives

Strategic Risk Management. This may surprise some project managers who may not see much evidence of strategic risk management percolating down to project level, other than perhaps a (not always enforced) requirement to produce a risk register for their project.

Risk 55

Six Steps of Risk Management

Herding Cats

Risk Management has six steps: Planning risk management - decides how to approach and plan the risk management activities for the project. Identifying the Risks - determines with risk are likely to affect the project and documenting the characteristics of each.

Risk 60

Risk Management Resources

Herding Cats

Risk Management is essential for development and production programs. Risk issues that can be identified early in the program, which will potentially impact the program later, termed Known Unknowns and can be alleviated with good risk management. Risk Management Papers. “A

Risk 45

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

Herding Cats

Calculating Value from Software Projects - Estimating is a Risk Reduction Process. The on-going discussions that Decisions can be made in the absence of estimates reminds me of this concept. .

A Compendium of Risk Management Resources

Herding Cats

This blog page is dedicated to the resources used to manage the risk encountered on software-intensive systems using traditional and agile development methods. Let's start with a critical understanding of the purpose of managing risk on software development projects.

Risk 42

Tips for taking over an active project

Kiron Bondale

Make sure you take the time to understand what they expect from you from both a communications and expectation management perspective, but also gauge their willingness to support you when decisions, issues or risks have been escalated to their attention.

2017 181

Cost and Value Management for Software Development

Herding Cats

This, of course, is a violation of the principles of Managerial Finance and Microeconomics of software development in the presence of uncertainty and scarce resources. Overlooking key project risks. As well this uncertainty creates a risk to the success of the project.

2018 64

4 Unusual Reasons Why Stakeholder Management Is Important

Girl's Guide to PM

Get an enthusiastic stakeholder from Finance to talk you through it. Reduce and Uncover Risk. Good stakeholder management reduces some risks and makes other risks, which may otherwise by unnoticed, transparent,” Newton says.

2020 310

Principles of Cost and Schedule Estimating

Herding Cats

One of the 4 summary root causes of project performance failures is Unrealistic Cost and Schedule Estimates based on inadequate risk-adjusted growth models. Risk Management is how adults manage projects - Tim Lister. A longer bibliography of Risk Management on Agile Projects. .

10 Knowledge Areas of Project Management (PMBOK 6) With PPT & PDF

Girl's Guide to PM

All the things you need to know and do for successful risk management, for example, are bundled under the Risk Management Knowledge Area. In other words, you can’t “do” schedule management and ignore what the impacts of that might be on people, risk, communications, cost and the rest.

2019 417

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. His specialty is high-risk projects, where he prevents failure or helps projects to recover from failure.

2020 315

How to Successfully Execute a Plan

ProjectManager.com

There must be status updates and a quick response to issues and risks as they arise in the project. Monitoring makes sure that the project is proceeding correctly, and tools like status reports and keeping up with issues, risks and changes is how you do that.

GAO Cost Estimating and Assessment Guide Applied to Agile

Herding Cats

Again, this is the basis of Managerial Finance. Uncertainty creates risk. Risk Management is how Adults Manage Projects - Tim Lister. Conduct Schedule Risk Analysis. Uncertanty creates Risk. Risk Management has 6 processes, see SEI Continuous Risk Management.

How to Fund a Software Development Project

ProjectManager.com

Next, decide how the team will go about accessing the funds being provided to them (this is usually chosen by your organization’s finance group). For example, we’ve run into many organizations that believe fixed price funding is low risk, but in fact it is very high risk in practice.

2019 313

Why Productivity in Project Businesses is Flatlining?

The Lazy Project Manager

Project Businesses that don’t standardize their operations and project reporting across the company aren’t able to manage their risks as well as they could. A lack of real-time insight into your operations will result in increased risk and ultimately, decreased profitability.

2020 225

Quote of the Day

Herding Cats

There are mysteries to managing in the presence of uncertainty for those who understand the principles of Risk Management of cost, schedule, and technical performance and know how to apply them using Managerial Finance, Microeconomics of Software Development, and Probabilities Decision making.

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 273

Strategic Planning in Business

ProjectManager.com

Growing a new business is full of risk, but knowing where the business is going and how it’s going to get there is a way to mitigate that risk. Related: Free Risk Tracking Template. What are the changes to structure, financing, etc.,

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. In turn, you may put more and more pressure on your team to speed up – risking cutting corners and delivering a low quality product that is not fit for purpose. This is an extract from Project Pain Reliever.

2020 297

Fallacy of the Week

Herding Cats

Do the highest technical risk first. ALL risk comes from uncertainty. Here are a short list of papers on Aleatory and Epistemic uncertainty , the risk it creates. And the technical risk is only one of three classes. There may be a high technical risk, but it can be handled quickly for very little money. Or there may be a low technical risk but will require longer and be more expensive. IT Risk Management.

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). The Power of Collaborating More Closely with Finance is Agility.

2020 95

Making Decisions in the Presence of Uncertainty

Herding Cats

More can be found on this in Both Aleatory and Epistemic Uncertainty Create Risk. . NoEstimates Decision Making Estimating Management RiskAll project work is uncertain. This uncertainty comes in two forms - Aleatory and Epistemic.

2016 51

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. It can result in higher risk, premature financial commitments.

2018 199

Project Management Processes & Phases

ProjectManager.com

The project plan will include what resources are needed, financing and materials. Risk: Determine what risks are likely, how they’ll impact the project and then plan how to resolve them. Risk: Note changes in risk throughout the project and respond accordingly.

BEST TASK PLANNING SOFTWARE

TimeCamp

There are certain measures to be taken if a business is to be thriving and the risk of its failure mitigated. Others believe it to be finances. 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.

Tackling Project Management Job Titles

Arras People

PMO Specialist – they will have a specialism in a certain area like risk, communications, finance etc. It can mean delivering small uncomplicated, low-risk projects or working alongside a Project Manager on a larger project.

2019 296

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

Arras People

Risk management. 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.

Improving portfolio management must be part of an agile transformation

Kiron Bondale

There is a greater likelihood of having too many active projects which increases the risk of resource shortages. When we think of an agile transformation, improving portfolio management might not be high on the organization’s list of priorities.

2017 179

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.

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.

AI In Project Management: 7 Ways in Which AI Will Transform Project Management

Taskque

2- Risk Management. Every project has risks, interdependencies, and uncertainties attached to it. As a project manager, it is your duty to assess and respond to those risks efficiently otherwise, these risks could become a cause of project failure.

10 Essential Project Management Skills for Success…and Your Resume

Project Bliss

Whether you’ve been handling your household finances or pulling together budgets for your big group trip to Mardi Gras, you likely already know how to balance costs versus expenses. . Risk Management. There are risks that, if not planned for, can completely derail your project.

2019 204

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.

2017 258

Program Manager Job Description – Plus! Cut & Paste Example

ProjectManager.com

Finances: It is essential that a program manager has the ability to manage finances and administer budgets over many projects. Manage change, risk and resources.

2018 276

How to Make a Marketing Plan Like a Project Manager

ProjectManager.com

The project budget must be realistic and within the financing constraints of the larger business. Generate a Risk Management Plan. Learn more about risk management plans. Marketing doesn’t get the respect that it’s due.

2020 248

Key Responsibilities of the PMO

Brad Egeland

Centralized repository and management for risks. Risks often don’t vary too much from project to project – at least not a large majority of them.

PMO 151