TZL 1238

9

O P I N I O N

You need to know

T here’s a fine line between what we know and what we need to know. So I’ll ask you: When was the last time you told someone that you didn’t need to know something? When it comes to our projects, we need to know as much as we can to ensure we stay on track for our firm and our clients.

Some of us are adamant about what we know, even if it’s incorrect. Sometimes, we decide we don’t want to know or don’t need to know something for various reasons. If one of your children comes to you at home with a Sharpie marker in one hand and their younger sibling behind them covered in said marker, you probably don’t want to know what happened. However, if your revenue from a project is less than your expenses, you really do need to know. After leading a project management seminar, one piece of feedback I received was that the financial management section I presented was not necessary, because “Project managers don’t need to know that.” I don’t mean to belittle anyone, but I found the comment funny and concerning at the same time. Since when shouldn’t a project manager, or any firm leader for that matter, not need to know about a project’s performance?

Project managers and principals need to know the numbers behind a project if they are to maintain the firm’s financial viability and progress on their growth goals. “Project managers and principals need to know the numbers behind a project if they are to maintain the firm’s financial viability and progress on their growth goals.” There are many things every project manager must know about their projects, but here are what I consider the minimum: ❚ ❚ Budget. How much have we spent on this project versus our expected expenses at this point? ❚ ❚ Time. Have we spent the expected amount of time

Bill Murphey CONTINUING ED

See BILL MURPHEY, page 10

THE ZWEIG LETTER March 5, 2018, ISSUE 1238

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