Post on 16-Oct-2021
transcript
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Possessing Business Acumen as a 21st Century Project
Management Professional
Introduction of Speaker
Cecily Austin
Project Management Professional
Project Management Institute®
Graduate of the United States Naval Academy, General Engineering
Masters in Education - Organizational Improvement Process; Old Dominion and Capella
United States Naval Supply Officer, Retired
Owner and CEO – Tip Top Mentoring & Tutoring Services, LLC
Program Manager – Department of Health & Human Services, Centers for Medicare &
Medicaid Services, Office of Information Technology
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Refining Your Business Acumen
as a 21st Century Project Management Professional
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I. Introduction of Speaker
II. Topics
III. Business Acumen: Understanding How an Organization Makes Money
IV. Business Acumen: Understanding How My Customers Make Money
V. Business Acumen: Understanding How “My Organization Makes Money
VI. Leadership and Business Acumen in Project Management
VII. Project Management Professional (PMP) Competencies
VIII. Let’s Talk About Leadership
IX. Video: Leadership in the 21st Century
X. What is Business Acumen?
XI. Demonstration of Business Acumen
XII. Business Acumen throughout the Project Management Lifecycle
XIII. Developing Strong Business Acumen
XIV. Strategies to Develop Strong Business Acumen
XV. What Does Successful Business Acumen Look Like?
XVI. Do You Have Business Acumen?
XVII. PMs Prepare to Strengthen Their Business Acumen
XVIII.Compilation
XIX. References
Understanding How an Organization Makes Money
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Understanding How My Customers Make Money
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Understand How “My Organization Makes Money
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Leadership and Business Acumen in Project Management
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Project Management Professional (PMP) Competencies
1. Technical
2. Strategic & Business
3. General Education
4.
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Leadership
Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
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Let’s Talk About Leadership
Video - Leadership in the 21st Century PMO?
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What is Business Acumen?
Business acumen is keenness and quickness (risks and
opportunities) in understanding and dealing with a "business
situation" in a manner that is likely to lead to a good outcome.[1]
Additionally, business acumen has emerged as a vehicle for
improving financial performance and .[2]
1. Reilly, Dr. Raymond R and Reilly, Dr. Gregory P. "Building Business Acumen", HR West, December 2009.
2. Summerfield, Brian. "A Crisis in Leadership" Archived June 23, 2009, at the Wayback Machine, Chief Learning Officer Magazine, April 2008.
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leadership
Demonstration of Business Acumen throughout the
Project Management Lifecycle
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Business Acumen throughout the
Project Management Lifecycle
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Project Managers need to…
Promote the value of project management – It’s not just
overhead
Explain how your projects deliver value to the Business
Display Business Acumen
Build Business Value into Project Schedules
Don’t Limit the Definition of Value to Money
Developing Strong Business Acumen
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Developing Strong Business Acumen
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Possesses “Executive Mentality”
Strategies to Develop Strong Business Acumen
Ask The Customer (Stakeholder) What They Want
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Strategies to Develop Strong Business Acumen
Expands Horizons With New Assignments
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Strategies to Develop Strong Business Acumen
Reads The Business Press
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What Does Successful Business Acumen Look Like
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Do You Have Business Acumen?
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PMs Prepare to Strengthen Their Business Acumen
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Compilation
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At its core, business acumen is the ability to combine
experience, knowledge, perspective, and awareness to
make sound business decisions. The development of this
ability leads to better judgment and allows you to view
organizational needs in a holistic, long-term way.
References
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Hill, G. (2004). Evolving the project management office: A competency
continuum. Information Systems Management. Taylor & Frances.
Knutson, J. (2002). Project management for business professionals: a
comprehensive guide. Books.google.com
Perry, M. (2009). Business driven PMO setup: Practical insights, and case
examples for ensuring success.
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