Project Management

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.

Avoiding tough talks is a direct path to losing team trust. Here's how top leaders handle conflict: 1/ The Real Problem → Leaders stall, hoping conflict resolves itself → Feedback gets softened until it’s meaningless → The issue festers, and performance suffers 2/ Why It Matters → Projects halt because no one says what needs to be said → The wrong people stay in the room, the right ones leave → Culture declines and misalignment becomes the norm 3/ The CLEAR Framework → Cut the Fluff: Skip the warm-up and get to the point → Label the Behavior: Focus on actions, not identity → Explain the Impact: Make it real, why does it matter? → Ask for Alignment: Invite a response, not a lecture → Recommit or Redirect: Don’t end vague, end with clarity 4/ What Happens Next → Tension goes down, not up → People feel respected, not ambushed → Projects move forward, with trust, not silence 5/ Why You Need This → Leading isn’t about avoiding discomfort → It’s about creating clarity when others won’t → This framework gives you the words to do it right What's your biggest takeaway?

There are always situations in which you need to communicate fast and clearly. Especially in a crisis, in new situations, or when there is time pressure. The STICC protocol helps you achieve this. The STICC Protocol was developed by psychologist Gary Klein as a tool for managing the unexpected. STICC stands for: Situation, Task, Intent, Concerns, Calibrate and is a technique for productive communication about what to do when you face a new, unexpected situation. This is what it means: S - Situation = Here’s what I think we face. The leader summarizes how they see the situation, problem, or crisis at hand. T - Task = Here’s what I think we should do. The leader explains their plan for addressing the situation, problem, or crisis at hand. I - Intent = Here’s why I think this is what we should do. The leader explains the reasons why they think this is the best way of addressing the situation, problem, or crisis at hand. C - Concerns = Here’s what we should keep our eyes on. The leader mentions possible downsides or future consequences of the solution suggested to be taken into account as well. C - Calibrate = Now talk to me and give me your views. The leader asks others in the team to give their feedback and viewpoints, and especially invites them to disagree and add. This technique helps you in managing pressured situations in three ways: First, once something unexpected happens, it helps to develop appropriate responses. The five steps are aimed at discussing with a team what to do in cases that are not familiar. Through its focus on concrete action, on gathering different viewpoints, and on speed, the STICC protocol is a quick way to take appropriate action in new situations. Second, in step 4 (Concerns), you open up the discussion for further uncertainties and other changes that may follow. In this way, you mentally prepare people that there will always remain uncertainties. This helps in developing a crisis-ready mindset that is not only helpful in the current crisis, but also in the next. Third, the fact that a constructive dialogue takes place also facilitates communication and mutual learning. Even though the leader brings the suggestions here, it is the team together that comes to a solution. And while doing that, they learn together and from each other in an open and adaptive way, which helps further prepare them for future crises. My advice: use STICC whenever you have to communicate fast and clearly. === Follow me or subscribe to my Soulful Strategy newsletter for more: https://lnkd.in/e_ytzAgU #communicationtips #agile #teamexercise

I’ve noticed that many GenAI application projects put in automated evaluations (evals) of the system’s output probably later — and rely on humans to manually examine and judge outputs longer — than they should. This is because building evals is viewed as a massive investment (say, creating 100 or 1,000 examples, and designing and validating metrics) and there’s never a convenient moment to put in that up-front cost. Instead, I encourage teams to think of building evals as an iterative process. It’s okay to start with a quick-and-dirty implementation (say, 5 examples with unoptimized metrics) and then iterate and improve over time. This allows you to gradually shift the burden of evaluations away from humans and toward automated evals. I wrote previously in The Batch about the importance and difficulty of creating evals. Say you’re building a customer-service chatbot that responds to users in free text. There’s no single right answer, so many teams end up having humans pore over dozens of example outputs with every update to judge if it improved the system. While techniques like LLM-as-judge are helpful, the details of getting this to work well (such as what prompt to use, what context to give the judge, and so on) are finicky to get right. All this contributes to the impression that building evals requires a large up-front investment, and thus on any given day, a team can make more progress by relying on human judges than figuring out how to build automated evals. I encourage you to approach building evals differently. It’s okay to build quick evals that are only partial, incomplete, and noisy measures of the system’s performance, and to iteratively improve them. They can be a complement to, rather than replacement for, manual evaluations. Over time, you can gradually tune the evaluation methodology to close the gap between the evals’ output and human judgments. For example: - It’s okay to start with very few examples in the eval set, say 5, and gradually add to them over time — or subtract them if you find that some examples are too easy or too hard, and not useful for distinguishing between the performance of different versions of your system. - It’s okay to start with evals that measure only a subset of the dimensions of performance you care about, or measure narrow cues that you believe are correlated with, but don’t fully capture, system performance. For example if, at a certain moment in the conversation, your customer-support agent is supposed to (i) call an API to issue a refund and (ii) generate an appropriate message to the user, you might start off measuring only whether or not it calls the API correctly and not worry about the message. Or if, at a certain moment, your chatbot should recommend a specific product, a basic eval could measure whether or not the chatbot mentions that product without worrying about what it says about it. [Truncated due to length limit. Full text: https://lnkd.in/gygj3y7w ]

My team and I once tried to hand-wave our way past Jeff Bezos with a large headcount request. He asked one question, was disappointed by the answer, and dug deeper. After a weak answer to question two, it was game over. Jeff declared that he trusted NONE of our proposal and sent us back, telling us, "Break down your requests to no more than 2 or 3 heads, tops, per line item. Then explain exactly what these small buckets will do." Once we did this, he went through the request line by line, telling us what we could and could not have. Overall, it was probably the most brutal experience I had with him in my 15 years at Amazon. While some people will read this and feel it was micromanagement, he was entirely right. We thought we had a blank check, so we made a big, broad funding request. We learned very quickly that while Jeff supported our mission, he expected us to spend "his" money carefully. Most people think executive influence happens in the room, by talking slick or having the right alliances. While communication and connections are hugely important, most of your influence is built before the meeting starts. Getting executive buy-in comes from understanding your executives, anticipating their concerns, and structuring your message around what they value. Here are two quick specifics: 1. Preparation If you walk into a key stakeholder meeting without preparing, like I did, you’ve already lost. The first step in preparation is clarity: What are you trying to achieve, by when, and why now? Then, define exactly what you’re asking for: a decision, resources, or permission to move forward. Finally, decode the humans. What does each stakeholder care about? What do they fear? How do they make decisions? Build your case in their language and plan your approach with intention. 2. Focus on Facts Executives are moved by accurate, outcome-driven facts. Shortly after this disastrous headcount audit, I was asked to lead the global expansion of the Kindle Appstore. This required taking 55 engineers away from other executive leaders to staff our rush effort. Our team won support by anchoring on three facts: (1) Kindle’s success in the U.S. was undeniable (2) The holiday deadline couldn’t move (3) Leadership had already approved a one-year draft to make it happen. Those facts aligned perfectly with what executives valued most: growth, timing, and company priority. If you master these skills, you’ll earn trust and support from senior leaders. In large organizations, this translates to success in your projects and success in your career. I've written a much more in depth Newsletter that covers these skills and more: https://lnkd.in/geEBPazP When have you either fallen into hand-waving or had to call your team on it?

Stuck in an endless loop of client changes? Lost track of what revision this constitutes? Yeah. Been there. Done that. The secret? It's not about saying no. It's about saying yes to the right things upfront. Every project that goes sideways starts the same way: Vague agreements. Fuzzy boundaries. Good intentions. Six weeks later you're bleeding money and everyone's frustrated. Here's my framework after 30 years of running two 8-figure businesses: The SOW is your salvation. Not some boilerplate template. A real document that covers: • Exact deliverables (not "design work" but "3 homepage concepts, 2 rounds of revisions") • Hours of operation ("We respond M-F, 9-5 PST. Weekend requests get Monday responses") • Revision rounds spelled out ("Round 1 includes up to 5 changes. Round 2 includes 3.") • Feedback cycles defined ("48-hour turnaround for client feedback or the project may be delayed or additional fees may be incurred") But here's what most people miss— Don't work on client notes immediately. Client sends 37 pieces of feedback at 11pm Friday? Producer sends conflicting notes from the CEO? Marketing wants one thing, sales wants another? Stop. Collect everything first. Resolve the conflicts. Get on the phone and discuss it with your client to get alignment. Separate the "have to haves" from the "nice to haves". Then present unified changes. "Based on all feedback received, here are the 8 changes we'll implement. This constitutes revision round 2 of 3." Watch how fast the random requests stop. No extra work that goes unappreciated. No more feelings of being taken advantage of. Communicate before the crisis, prevents the crisis from happening. "Just so you know, we're entering round 2. You have one more included. After that, it's $X per additional round." No surprises. No awkward money conversations. No resentment. Scope creep isn't a them problem. It's a you problem. And that's good news, because that means you are in control. They're not trying to take advantage. They just don't know where the boundaries are because you never drew them. Draw the lines early. Communicate them clearly. Everyone wins. What's your most painful scope creep story? What boundary would've prevented it? Small Business Builders #projectmanagement #clientmanagement #businessgrowth

𝗧𝗼𝗱𝗮𝘆, 𝗣𝗠𝗜 𝗿𝗲𝗹𝗲𝗮𝘀𝗲𝘀 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗿𝗲𝘀𝘂𝗹𝘁𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗹𝗮𝗿𝗴𝗲𝘀𝘁 𝘀𝘁𝘂𝗱𝘆 𝘄𝗲’𝘃𝗲 𝗲𝘃𝗲𝗿 𝗰𝗼𝗻𝗱𝘂𝗰𝘁𝗲𝗱 - 𝗼𝗻 𝗮 𝘁𝗼𝗽𝗶𝗰 𝘁𝗵𝗮𝘁 𝗶𝘀 𝗰𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝘁𝗼 𝗼𝘂𝗿 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻: 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗦𝘂𝗰𝗰𝗲𝘀𝘀. 📚 Read the report: https://lnkd.in/ekRmSj_h With this report, we are introducing a simple and scalable way to measure project success. A successful project is one that 𝗱𝗲𝗹𝗶𝘃𝗲𝗿𝘀 𝘃𝗮𝗹𝘂𝗲 𝘄𝗼𝗿𝘁𝗵 𝘁𝗵𝗲 𝗲𝗳𝗳𝗼𝗿𝘁 𝗮𝗻𝗱 𝗲𝘅𝗽𝗲𝗻𝘀𝗲, as perceived by key stakeholders. This clearly represents a shift for our profession, where beyond execution excellence we also feel accountable for doing anything in our power to improve the impact of our work and the value it generates at large. The implications for project professionals can be summarized in a framework for delivering 𝗠𝗢𝗥𝗘 success: 📚𝗠anage Perceptions For a project to be considered successful, the key stakeholders - customers, executives, or others - must perceive that the project’s outcomes provide sufficient value relative to the perceived investment of resources. 📚𝗢wn Project Success beyond Project Management Success Project professionals need to take any opportunity to move beyond literal mandates and feel accountable for improving outcomes while minimizing waste. 📚𝗥elentlessly Reassess Project Parameters Project professionals need to recognize the reality of inevitable and ongoing change, and continuously, in collaboration with stakeholders, reassess the perception of value and adjust plans. 📚𝗘xpand Perspective All projects have impacts beyond just the scope of the project itself. Even if we do not control all parameters, we must consider the broader picture and how the project fits within the larger business, goals, or objectives of the enterprise, and ultimately, our world. I believe executives will be excited about this work. It highlights the value project professionals can bring to their organizations and clarifies the vital role they play in driving transformation, delivering business results, and positively impacting the world. The shift in mindset will encourage project professionals to consider the perceptions of all stakeholders- not just the c-suite, but also customers and communities. To deliver more successful projects, business leaders must create environments that empower project professionals. They need to involve them in defining - and continuously reassessing and challenging - project value. Leverage their expertise. Invest in their work. And hold them accountable for contributing to maximize the perception of project value at all phases of the project - beyond excellence in execution. 📚 Please read the report, reflect on its findings, and share it broadly. And comment! Project Management Institute #ProjectSuccess #PMI #Leadership #ProjectManagementToday

A ceramics teacher split her class into two groups. To one group, she gave a simple instruction: “Make as many pots as you can. You’ll be graded on quantity.” To the other, she said: “Make just one pot. But make it perfect. You’ll be graded on quality.” At the end of the week, something unexpected happened. The quantity group, in their rush to produce, iterated constantly. They tried new shapes. They learned from cracked handles and warped lids. Each failure taught them something. By the end, they had made not only the most pots — but also the best ones. The quality group? They spent most of their time theorizing. Planning. Sketching. Worrying. Their pot, though done, was far from perfect. This story plays out in plenty of situations and initiatives, big or small. When building products, don’t wait for perfection. Start building. Ship. Learn. Repeat. Iteration is how excellence emerges. Doing is how you find direction. Especially in today’s AI-fueled world, where the ground is shifting fast — the teams that move, learn, and ship quickly will beat the ones that wait for perfect specs. So the next time you find yourself overthinking, remember the pottery class. Just make another pot.

As head of our product organization at Chase, I often think about how and what we’re delivering to customers, but I recently reflected on the vital role of product managers. While some may view it as merely administrative, in my opinion this couldn't be further from the truth. Product managers are the driving force behind strategy and exceptional experiences, whether for external customers or internal users. Our role demands a deep connection to both the product and its users. Three essential qualities we all have: Customer Obsession: Go beyond empathy by diving into data and insights to understand user behavior, pain points, and opportunities. Decisions should be data-driven, ensuring the product evolves with user needs. Strategic Leadership: Product managers must define and drive the product vision, setting strategies that align with company goals. This involves fostering alignment across cross-functional teams and building strong relationships with stakeholders to ensure everyone is working toward a shared vision. Accountability: Own the outcomes, whether good or bad. Exceptional product managers embrace challenges, learn from mistakes, and continuously iterate to improve. They step into gray areas, connecting the dots to drive cohesive and successful outcomes. This role is strategic and high-impact, requiring us to lead with intention, push boundaries, and always advocate for the user. #productmanagers #productdevelopment

🚨 AI Privacy Risks & Mitigations Large Language Models (LLMs), by Isabel Barberá, is the 107-page report about AI & Privacy you were waiting for! [Bookmark & share below]. Topics covered: - Background "This section introduces Large Language Models, how they work, and their common applications. It also discusses performance evaluation measures, helping readers understand the foundational aspects of LLM systems." - Data Flow and Associated Privacy Risks in LLM Systems "Here, we explore how privacy risks emerge across different LLM service models, emphasizing the importance of understanding data flows throughout the AI lifecycle. This section also identifies risks and mitigations and examines roles and responsibilities under the AI Act and the GDPR." - Data Protection and Privacy Risk Assessment: Risk Identification "This section outlines criteria for identifying risks and provides examples of privacy risks specific to LLM systems. Developers and users can use this section as a starting point for identifying risks in their own systems." - Data Protection and Privacy Risk Assessment: Risk Estimation & Evaluation "Guidance on how to analyse, classify and assess privacy risks is provided here, with criteria for evaluating both the probability and severity of risks. This section explains how to derive a final risk evaluation to prioritize mitigation efforts effectively." - Data Protection and Privacy Risk Control "This section details risk treatment strategies, offering practical mitigation measures for common privacy risks in LLM systems. It also discusses residual risk acceptance and the iterative nature of risk management in AI systems." - Residual Risk Evaluation "Evaluating residual risks after mitigation is essential to ensure risks fall within acceptable thresholds and do not require further action. This section outlines how residual risks are evaluated to determine whether additional mitigation is needed or if the model or LLM system is ready for deployment." - Review & Monitor "This section covers the importance of reviewing risk management activities and maintaining a risk register. It also highlights the importance of continuous monitoring to detect emerging risks, assess real-world impact, and refine mitigation strategies." - Examples of LLM Systems’ Risk Assessments "Three detailed use cases are provided to demonstrate the application of the risk management framework in real-world scenarios. These examples illustrate how risks can be identified, assessed, and mitigated across various contexts." - Reference to Tools, Methodologies, Benchmarks, and Guidance "The final section compiles tools, evaluation metrics, benchmarks, methodologies, and standards to support developers and users in managing risks and evaluating the performance of LLM systems." 👉 Download it below. 👉 NEVER MISS my AI governance updates: join my newsletter's 58,500+ subscribers (below). #AI #AIGovernance #Privacy #DataProtection #AIRegulation #EDPB