Benefit = Project Managers increase their value
Earn your PMBA – Project Management Business Administration
Understanding what makes a project succeed is only a small fraction of what makes a company succeed. Mastering these concepts not only makes you more likely to stay on with your company when layoffs come around, it makes you more likely to be promoted. Companies need people who see the big picture.
The Project Management Institute (PMI) has recognized a gap in understanding between Project Managers and overall company level or program level interdependencies. As a result, PMI now requires a minimum of 8 Professional Development Units (PDU) or 8 Contact Hours to be focused on Strategic Planning / Business Management. (PMI CCR Handbook 2015 – page 5) The PMBA provides 8 contact hours in Strategic and Business Management.
The PMBA class is about decision making at its core. When people don’t understand all the angles, they don’t always make the right decisions. For example, if a Project Manager is tracking only a project level budget they may think they have plenty of money to spend on changes. If they understood that the company level budget was in the red, they may make different choices.
This course talks about strategic planning, what it is and how it is done. More importantly, we talk about how projects need to align to a strategic plan to help a company be successful. We talk about hidden costs of money that most project level staff never see so that they better understand how to make a company profitable. We also talk about risk management and claims avoidance since poorly managed risk and claims are the most common ways companies lose money. So in the end the course is about showing more people the bigger picture to improve decision making and profitability.
Specific Learning Outcomes:
• Demonstrate an understanding of a Strategic Plan
• Contrast a Strategic Plan and an Implementation Plan
• Select the appropriate tools for Strategic Planning
• Identify threats and opportunities during all stages of a project
• Translate execution strategies to individual accountability
• Reduce hidden costs to projects such as cost of working capital
• Implement Program or Company level purchasing plans
• Mitigate claims and litigation
• Satisfy clients to ensure future projects
• Position the company for higher fees on future projects
• Leverage your project performance into job security
• Make yourself priceless to your company
Schedule a class for your group or see if this class is already being offered in your area.