Project Management Basics

Here are a 8 tips to help you budget like a CFO. 👇 Most people don't understand how budgeting works. Yet, it's such an important process in the business cycle. I've worked at 3 multinational corporations. And I can attest to the importance of budgeting. It's like charting a roadmap for your company's success. It provides a strategic outline to reach your goals, while taking into consideration both internal and external factors. Example: If you want to climb a mountain, you plan your route, consider weather conditions, assess potential risks, and allocate resources. A budget is your route to financial success. You forecast sales and expenses based on market dynamics and capital allocation needs. With that said ... 1/ There are 2 ways to create budgets: Top-down and bottom-up. Top-down is when goals are set by senior management. When I worked at Microsoft, revenue targets for subsidiaries around the world were given by HQ. It was up to the local teams to figure out how to hit the target. Bottom-up is when each department makes its own projections and plans on how to reach them. Each is like a mini-company, setting its own budget, which then rolls up into the company-wide budget. This can create a lot of back and forth between department heads and management. 2/ Budgets should be ambitious. But also realistic. They have to stretch people just enough they think it's hard, but also achievable. Budgets that overshoot tend to result in demotivated teams and employees. Don't fall for this trap. 3/ Each department has its own specific levers that drive an outcome in the business. And it's your job to understand what these are. HR will focus on recruiting costs, training expenses, and employee benefits. Sales will focus on travel, events, marketing, advertising, etc. 4/ One effective strategy is to use the previous year's budget as a starting point. If last year's marketing budget was $2M and it generated $10M in sales, how much more investment is needed to make $15M in sales? Not everything has a linear relationship, but it's a good baseline. 5/ To expand on the point before, it's crucial to justify your assumptions with research. If you're projecting an increase of 50% in sales, it's not just marketing that might need investment. What about pricing? Or New product introductions? 6/ Back these assumptions with numbers. This is where financial modeling kicks in. How much does increasing a dollar in price affect sales? How much revenue can we expect if we launch a sales campaign? How much profit do we get if we fire people? A nasty one, but also necessary. 7/ Be ready to defend your budget. It’s a vital part of the process, allowing you to justify your assumptions and decisions. Budgeting is not just about numbers; it's a strategic blueprint for achieving your company's goals. There'll be pushback 100% of the time. Get used to it. Hope that helps! What would you add? #finance #accounting

$135 million lost for every $1 billion spent. Lack of clarity kills projects. 37% of projects fail due to poor communication and unclear requirements. Here's how to make clarity your secret weapon: ☑ 𝗗𝗲𝗳𝗶𝗻𝗲 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗢𝗯𝗷𝗲𝗰𝘁𝗶𝘃𝗲𝘀: Clearly state the overall goals and align them with organizational strategy. Don't leave desired outcomes and impacts unspecified. → Projects with clear goals are 2.8x more likely to succeed. ☑ 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝗞𝗲𝘆 𝗦𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿𝘀: List everyone involved or affected, and define roles, responsibilities, and interests. Don't overlook establishing a communication plan. → 57% report stakeholder misalignment. ☑ 𝗢𝘂𝘁𝗹𝗶𝗻𝗲 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗦𝗰𝗼𝗽𝗲: Define what's in-scope and out-of-scope, and identify key deliverables and milestones. Don't ignore alignment with stakeholder expectations. → 71% struggle with unclear scope. ☑ 𝗘𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗚𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲: Set up a governance structure, specify decision-making processes, and identify key roles and responsibilities. Don't skip regular clarity check-ins. → 51% have regular clarity check-ins. ☑ 𝗗𝗲𝘃𝗲𝗹𝗼𝗽 𝗮 𝗥𝗶𝘀𝗸 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆: Identify potential risks and challenges, assess likelihood and impact, and outline mitigation strategies. Don't neglect to maintain detailed documentation. → 89% of successful projects maintain detailed docs. ☑ 𝗖𝗿𝗲𝗮𝘁𝗲 𝗮 𝗛𝗶𝗴𝗵-𝗟𝗲𝘃𝗲𝗹 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲: Develop a timeline with key phases and milestones, and ensure it's realistic and achievable. Don't forget to align it with resource availability. → 86% implement milestone tracking. ☑ 𝗗𝗲𝗳𝗶𝗻𝗲 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀: Identify necessary resources (people, tech, budget) and assess availability. Don't waste time reworking unclear tasks. → Teams waste 21.8% of their time reworking unclear tasks. Because at the end of the day: → Clarity isn’t just a nice-to-have. → It’s a must-have for project success. Why not make it your superpower? Choose clarity. Ensure success. Be the leader.

90% 𝗣𝗠𝘀 𝘀𝘁𝗿𝘂𝗴𝗴𝗹𝗲 𝘁𝗼 𝗱𝗼 𝘁𝗵𝗶𝘀 𝗶𝗻 𝘁𝗵𝗲𝗶𝗿 𝗲𝗮𝗿𝗹𝘆 𝗰𝗮𝗿𝗲𝗲𝗿 👇🏻 When we have so much to do, connecting dots between them becomes a real challenge. One of the hardest things is 𝗹𝗶𝗻𝗸𝗶𝗻𝗴 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 𝘁𝗼 𝗿𝗲𝗮𝗹 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗼𝘂𝘁𝗰𝗼𝗺𝗲𝘀. Most of the PMs don’t get it right initially and it’s confusing to figure out how to relate all the strategic data points. So how do we do it the right way? Opportunity Solution Tree (OSTs) by Teresa Torres are one of the most effective frameworks for product discovery and decision-making. 👉🏻 𝗢𝗦𝗧𝘀 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝘃𝗶𝘀𝘂𝗮𝗹𝗹𝘆 𝗺𝗮𝗽: 1️⃣ Business Objectives: The measurable outcomes your team is working toward. 2️⃣ Opportunities: Key user needs or pain points that can drive those objectives. 3️⃣ Solutions: Potential features or ideas to address those opportunities. 4️⃣ Assumption Tests: Experiments to validate whether your solutions will work. 👉🏻 𝗢𝗦𝗧𝘀 𝗼𝗳𝗳𝗲𝗿 𝘀𝗲𝘃𝗲𝗿𝗮𝗹 𝗺𝗮𝗷𝗼𝗿 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀: Aligning work with outcomes: They draw a direct line between your team’s efforts and the business impact, helping everyone see the "why" behind the work. Prioritizing alternatives: They let you evaluate which opportunities or solutions are most promising, reducing the noise and focusing the team. Avoiding logical flaws: OSTs expose common pitfalls like pursuing solutions not tied to outcomes or skipping discovery. 👉🏻 𝗛𝗼𝘄 𝘁𝗼 𝗴𝗲𝘁 𝘀𝘁𝗮𝗿𝘁𝗲𝗱: 𝗦𝘁𝗲𝗽 1: Define a measurable outcome. Tie it to business impact (e.g., “Increase onboarding completion by 15%”). 𝗦𝘁𝗲𝗽 2: Map real opportunities. Use user research and analytics to group pain points into actionable categories. 𝗦𝘁𝗲𝗽 3: Brainstorm broadly but realistically. Generate multiple solutions tied to specific opportunities. 𝗦𝘁𝗲𝗽 4: Test assumptions first. Validate risky ideas using prototypes or A/B tests before committing resources. 𝗦𝘁𝗲𝗽 5: Review and refine regularly. Ensure your OST adapts as user needs and priorities evolve. Spot logical gaps. Ask yourself - - Are we solving a real problem or jumping to solutions? - Do we have too many competing outcomes or directions? - Are we overloaded with solutions and need to narrow focus? 👉🏻 Opportunity Solution Trees help you prioritize work that delivers meaningful results. If you’ve used OSTs, what tips or lessons have you learned? PS: Would you want me to create a complete guide on OSTs with practical examples in the simplest way? Let me know in the comments!

I’ve run a remote team for over 10 years. I don’t watch my team's every move. I don’t chase updates. I don’t check the time stamp on every message. And yet - The work gets done. The quality stays high. The team continues to grow. But it wasn’t always like this. In the beginning, I micromanaged. Not because my team wasn’t capable - But because *I* wasn’t ready to let go. The truth? Micromanagement is often more about your fear and need for control, than your team. Once I addressed my own insecurities, things began to shift. Here’s what I’ve learned from a decade of remote leadership - And what you can apply to help your team thrive without being watched: 1. Ownership breeds innovation → Give people space, and they’ll surprise you. → Problems get solved before you even know they exist - because your team starts thinking like owners. 2. Pride creates quality When people take pride in their work, they don’t need oversight. They self-correct, improve, and aim higher - because it matters to them. People take pride in their work when they feel two things: → When they are respected as professionals → When they feel safe to grow, fail, and still belong 3. Clear deliverables > constant check-ins → Don’t manage hours. Manage outcomes. → Define the “what” clearly, and trust the “how” to unfold. 4. Mission-driven teams self-regulate → When your team believes in the “why,” motivation becomes internal. → Deadlines aren’t chased - they’re honored. 5. Growth fuels loyalty → Channel your energy into building stretch opportunities, not bottlenecks. → People stay where they grow - and where they’re trusted to lead. So if you feel the urge to constantly monitor your team - Pause and ask yourself: 💡 Are they really the issue? Or is something within you asking to be seen, softened, and reset? Conscious leadership doesn’t grip tightly. It creates the conditions for others to rise. Trust isn’t given blindly - it’s extended bravely. And more often than not, your team will rise to meet it. ♻️ Repost if you’re building a culture of trust over control. 🔔 Follow Bhavna Toor for conscious leadership that scales.

The 'Out of Sight, Out of Mind' Trap: How to Conquer the Distance Google is a global company with offices all over the world, and while this diversity is a strength, it also presents unique challenges for communication and collaboration. Especially when your key stakeholders and decision-makers are continents away! Those hallway conversations, spontaneous coffee chats, and quick desk drop-bys that teams at HQ take for granted? Yeah, those aren't happening when you're separated by oceans and time zones. And that can lead to a disconnect. Your team's amazing work might get overlooked, your challenges might go unnoticed, and your stakeholders might feel out of the loop. But fear not, fellow remote leads! Here are a few strategies I've learned along the way: ‣ Tailor your communication approach: Every leader has their preferred communication style. Some love detailed reports, others prefer concise bullet points, and some just want the TL;DR. It's your job to adapt and deliver information in the way they'll best receive it. ‣ Embrace Radical Transparency: The worst thing that can happen is your leadership feeling blindsided by a problem or a missed deadline. Over-communicate! Share updates regularly, highlight both wins and challenges, and don't be afraid to ask for help when needed. ‣ Educate Your Leads: Help them understand the unique challenges of leading a remote team in a different location. Explain why you might need more proactive communication or different approaches to stay connected and aligned. ‣ Build Relationships Beyond Email: Travel when possible. Occasional visits to the main office can be invaluable for building relationships and understanding the nuances of the company culture. ‣ Celebrate Wins: Make sure your stakeholders are aware of your team's accomplishments, both big and small. This reinforces the value of your team and keeps them top-of-mind. ‣ Iterate and Improve: What works for one lead might not work for another. Experiment with different communication styles, ask for feedback, and continuously refine your approach. Leading a local team in a remote site requires extra effort and intention. By mastering the art of communication and building strong relationships with your stakeholders, you can ensure your team's success, no matter where you are in the world! What are your favorite tips for leading remote teams across continents? Share your insights in the comments! 👇 #RemoteLeadership #Communication #TechLeadership #lifeAtGoogle

Work isn't going "remote" — but it is increasingly distributed. And we're not training leaders for that reality. Most teams in organizations past startup phase now span cities, time zones, and work styles. Yet only 25% of managers receive training on leading distributed teams, according to research by Kate Lister and TechSmith. The gap is costly: projects stall, alignment breaks down, and high performers get frustrated when leaders default to proximity-based management. The fix isn't return-to-office; these teams are spread out. It's distributed leadership skills. My latest taps Sacha Connor for her expertise (there's a bit of Rosie Sargeant and Debbie Lovich in this too). Here are 3 tactical approaches that work: 🔸 Prioritize cross-functional project teams: These drive business results, but they need working norms fast. Spend time upfront establishing how decisions get made and how progress gets shared. 🔸 Start by getting clear on goals: Get aligned on how you'll measure success before diving into processes. You'll be surprised how wide the gap is between what people think they're working toward. 🔸 Master progress tracking and influence building: Leaders need visibility into work, regardless of location. Team members need to understand how to build credibility and influence when they're not in the same room. Bottom line: The future of work isn't about where people sit — it's about how effectively they collaborate across distance and difference. 👉 Read more on the training gap: https://lnkd.in/gBq87DBB What's the biggest challenge you've seen with distributed team leadership? #Leadership #Distributed #FutureOfWork #Management

Here’s how you can manage a remote team like a pro. Remote teams can be 25% more productive with proper management and tools. Mayank and I have managed hundreds of developers remotely. Here are key strategies that we at Supersourcing have discovered to boost productivity and foster a thriving remote culture: - Define clear communication channels. This will help avoid misunderstandings and keep your team aligned. -Set up virtual team-building activities to foster connections and camaraderie, even from afar. -Implement Regular check-ins. Very important to ensure everyone stays on track and feels supported. -Use the right collaboration tools and streamline workflows to boost efficiency. -Establish clear goals and metrics to measure progress and success. -Promote a culture of trust and autonomy by encouraging team members to take ownership and deliver results. -Invest in continuous learning and development to support skill growth and stay updated with industry trends. Creating a successful remote team goes beyond just hiring the right talent. It's about creating an environment where your team can excel, no matter where they are. Effective communication, team-building, regular check-ins, and the right tools can transform remote work from a challenge into a strength. What’s your top challenge in managing remote teams? Share your experiences and let’s discuss how we can overcome them together.

The remote work era demands a new approach to team leadership. With distributed work and hybrid setups becoming the norm, it’s time to re-evaluate traditional frameworks. Inspired by Patrick Lencioni’s "Five Dysfunctions of a Team," I adapted it for remote teams—because the rules have changed. 👀 𝗧𝗵𝗲 𝟱 𝗗𝘆𝘀𝗳𝘂𝗻𝗰𝘁𝗶𝗼𝗻𝘀 𝗼𝗳 𝗥𝗲𝗺𝗼𝘁𝗲 𝗧𝗲𝗮𝗺𝘀: 1️⃣ 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗧𝗿𝘂𝘀𝘁 𝗚𝗮𝗽 Trust is essential in remote setups but harder to build without regular face-to-face time. Consistency, transparency, and empathy are critical to bridge the trust gap. 2️⃣ 𝗩𝗶𝗿𝘁𝘂𝗮𝗹 𝗖𝗼𝗻𝗳𝗹𝗶𝗰𝘁 𝗔𝘃𝗼𝗶𝗱𝗮𝗻𝗰𝗲 In virtual settings, it’s easy to skip tough conversations. Healthy conflict is essential for innovation—encourage open channels for feedback and constructive debate. 3️⃣ 𝗟𝗮𝗰𝗸 𝗼𝗳 𝗖𝗹𝗮𝗿𝗶𝘁𝘆 & 𝗔𝗹𝗶𝗴𝗻𝗺𝗲𝗻𝘁 Misalignments are common without a shared space. Set clear goals, built upon narratives and outcomes — to ensure everyone is moving in the same direction. 4️⃣ 𝗘𝘃𝗮𝘀𝗶𝗼𝗻 𝗼𝗳 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆 Remote work can blur accountability lines. Establish clear roles, responsibilities, and track progress consistently to build ownership. 5️⃣ 𝗗𝗶𝘀𝗰𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝗼𝗻 𝗳𝗿𝗼𝗺 𝗖𝗼𝗹𝗹𝗲𝗰𝘁𝗶𝘃𝗲 𝗚𝗼𝗮𝗹𝘀 Digital tools create constant distractions, making it easy to lose sight of team goals. Regularly reinforce your team’s mission, celebrate progress, and debrief setbacks. --- Ready to tackle remote dysfunctions head-on? Here are also 10 practical tips for remote leaders: 1️⃣ Visualize team goals in one shared place 2️⃣ Write weekly async updates instead of a meeting 3️⃣ Set clear ownership of outcomes upfront 4️⃣ Build a “virtual watercooler” for informal chats 5️⃣ Plan quarterly offsites (in-person or digital) 6️⃣ Share small wins weekly to boost morale 7️⃣ Run frequent feedback sessions of different scopes 8️⃣ Set clear deep work timeslots for the team 9️⃣ Create a digital playbook for team processes 🔟 Document, document, document --- What's your view on this? Does it resonate? What other tips would you suggest for remote leaders? #RemoteWork #TeamDynamics #Leadership #HighPerformance --- I'm Hugo Pereira. Co-founder of Ritmoo and fractional growth operator, I've led businesses from $1m to $100m+ while building purpose-driven, resilient teams. Follow me to master growth, leadership, and teamwork. My book, 𝘛𝘦𝘢𝘮𝘸𝘰𝘳𝘬 𝘛𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘦𝘥, arrives early 2025.

Leading a team remotely can feel like navigating uncharted waters, but it's a journey filled with opportunities for growth and innovation. I've witnessed firsthand, through my coaching clients, how adopting the right strategies can turn the challenges of remote and hybrid leadership into strengths. Initially overwhelmed by the shift to remote work, one of my clients transformed their leadership style using these 5 key strategies. They learned to harness digital tools for effective communication, foster a culture of trust and flexibility, prioritize their team's well-being, continuously upskill in digital literacy, and maintain a balance between autonomy and accountability. The result? A more cohesive, motivated, and productive team. If you're feeling the pressure of remote leadership, remember you're not sailing this sea alone. These strategies are your compass, guiding you to lead with confidence and agility. Let's embark on this journey together, turning the challenges of remote leadership into a story of success. Your team's potential is limitless, and with the right approach, you can unlock it. 💼🌍 #RemoteLeadership #HybridWorkplace #LeadershipStrategies #TeamSuccess #DigitalLeadership

Imagine you’re leading Amazon’s Prime Day. 📦⚡ You're managing one of the biggest retail events in the world. You need tight logistics (hello, Waterfall) and real-time responsiveness (enter, Agile). Would a single project management tool be enough? Probably not. You need a hybrid approach—and tools that match. Hybrid project management isn’t about choosing between Agile or Waterfall— 👉 It’s about using both, intentionally and strategically. So how do you choose the right tools? Let’s break it down, Amazon-style: 🛠️ Step 1: Start with upfront planning (Waterfall) Just like Amazon precisely outlines every Prime Day milestone, use tools like: Microsoft Project or Smartsheet These offer robust roadmapping, deadline setting, and deliverable tracking—ideal for planning and structure. 🔁 Then, bring in Agile tools for dynamic, adaptive execution: Jira for backlog management and sprints Trello or Asana for real-time team collaboration Miro for visual brainstorming and iterative design 🎯 The key? Choose tools that align with your methodology mix, team needs, and phase of the project. Your tech stack should flex with your project—not against it. 💡 Tools don’t run projects—people do. But the right tools make it smoother, smarter, and more scalable. #ProjectEconomy #ProjectManagement #ContinuousLearning 🎯💡