Instructor Daniel Stanton begins the course by reviewing the key skills highlighted in the Project Management Institute (PMI) Talent Triangle, and explaining how strategy and business management fit into your professional development. Next, he explains how to align your project with the priorities of your organization, and effectively communicate the goals, benefits, and risks of your project to your stakeholders. Then, he walks through the different business functions in an organization, including marketing and sales, supply chain management, human resources, and information technology. To wrap up, Daniel explains how to leverage your business acumen to collaborate effectively with individuals throughout your organization.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Identify the role of business acumen in the PMI Talent Triangle.
- Recognize that projects are how businesses implement changes.
- Explore the characteristics of a SMART goal.
- List several business benefits of good customer service.
- Identify common financial documents.
- Review common financial analysis methods.
- Recall the three common approaches to continuous process improvement.
- Identify the differences between strategic, tactical, and operational goals.
Skill Level Intermediate
- Project managers have an incredibly important job. They help their teams keep promises. But in order to really understand those promises and why they matter, project managers need to understand how business works. In other words, they need to develop business acumen. My name is Daniel Stanton, and I've been both an executive and a project manager in large and small organizations. I've seen what a difference it makes when a professional can combine strong project management skills with an appreciation for the goals and objectives of their colleagues throughout the organization.
Project managers with good business acumen find that their teams are more productive, their clients are more satisfied, and their careers are more successful. In this corse, I'll provide you with a quick but thorough overview of how businesses really work. We'll talk about ways to align your project with the overall priorities of the organization. Then we'll look at each of the major functions in an organization, and how businesses, non profits, and governments do what they do.
Finally, we'll connect the dots between these concepts to help you develop the business acumen to collaborate more effectively with people throughout your organization. We've got a lot to cover, and I'm confident that you'll be able to use this information right away. So, let's start building our business acumen.