In this episode of My TechDecisions Podcast, host and TD Managing Editor Jonathan Blackwood speaks with Dr. Robert Marshall. The discussions centers on budgeting, project management for budgeting, cost estimates, and more.
Dr. Robert Marshall is a Certified Senior Project Manager (CSPM), a certified Project Management Professional (PMP), a subject matter expert and peer reviewer for multiple organizations including the Project Management Institute, the International project Management Association, and more. He’s also an adjunct professor at Southern New Hampshire University. Suffice it to say, Dr. Marshall knows a lot about project management.
If you recall, we’ve had Dr. Marshall on the podcast before. In part one and part two of his interview, he discussed project management best practices in terms of a technology project. This covered everything from planning to scheduling to seeing the project through.
This time we’re getting a bit more granular, focusing on perhaps the most important part of any technology project – the budget. We invited Dr. Marshall back in order to learn how budgets are created, how a technology manager can get approval for a budget, how to keep a budget on track throughout a technology project, and more.
One of the most important things we discuss is the difference between a project cost estimate and a budget. Dr. Marshall explains that you can’t create a fair budget without first creating a project cost estimate. He goes on to discuss three strategies for creating project cost estimates, and in which cases you’d want to use each strategy. It’s important for every tech manager to have this information as it could be the difference between getting the technology you want or not.
Finally, Dr. Marshall gives some tips for gaining approval for a budget. Just because the numbers match up doesn’t mean your organization will give you the OK. You need to make a case for why the organization should spend the money in the first place.
Check out the interview to learn more about creating and keeping a budget.
Listen to this podcast using the embedded player below.