Learn how to apply your business acumen to make your projects more successful.
- Elon Musk, the founder of Tesla and SpaceX,…said that if you're trying to create a company…it's like baking a cake.…You have to have all the ingredients…in the right proportion.…In this lesson, we'll talk about how you…can use your knowledge of those ingredients,…you're business acumen, as a project manager.…The Project Management Institute recognizes three areas…in which project managers need to develop.…They need to build technical project management skills,…leadership skills, and an understanding…of strategic and business management.…
Our focus in this course…has been on building business acumen,…the strategic and business management…part of the talent triangle.…Business acumen starts with an understanding…of the problem that your organization exists to solve.…Who is it that your serve and what value…do you provide to them?…All of the work that an organization does…should tie back to achieving this purpose,…and that's why it's important to keep strategy,…tactics, and operations fully aligned.…
On one hand, you can always find ways…
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.