{"id":2036,"date":"2015-09-09T00:01:37","date_gmt":"2015-09-09T04:01:37","guid":{"rendered":"http:\/\/dansdigitaldive.com\/web\/?p=2036"},"modified":"2022-03-09T10:38:39","modified_gmt":"2022-03-09T15:38:39","slug":"book-review-project-management-for-profit","status":"publish","type":"post","link":"https:\/\/dansdigitaldive.com\/web\/archives\/2036","title":{"rendered":"Book Review: Project Management for Profit"},"content":{"rendered":"\n\n\n
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\"Click<\/a>
Click to order book<\/figcaption><\/figure><\/td>\n
Project Management for Profit – A Failsafe guide to keeping pojects on track and on budget
\n<\/b>Author:\u00a0Joe Knight, Roger Thomas, Brad Angus
\nISBN: 9781422144176<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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The triad of project management: Scope, Cost, & Schedule are often reflected in monthly reports.\u00a0 When reporting my projects to my program manager, I know exactly where my project stands in relation to one of those three.<\/p>\n

But more importantly: Is my project profitable to the company?\u00a0 That is a key metric that only the financial bean counters know weeks or months after the project is complete. What would happen if I, as a project manager could tell where the project stood on a profitability level almost in real time?\u00a0 That would be immensely useful; not only to me, my boss, my boss’s boss; but to the project team.<\/p>\n

The goal of this book is empowerment.\u00a0 The book strives to empower a project manager to know exactly where his project stands, at any given time.\u00a0 Everything in the book comes back to cost, and how that impacts profit.<\/p>\n

The book is an easy read, with side stories along the way to prove points and make more difficult scenarios understandable.\u00a0 it begins by laying the foundation.\u00a0 It builds upon Stephen Covey’s 7-habits book.\u00a0 Utilizing Covey’s time matrix, all activities should fall in quadrant #2, Important; but not urgent.\u00a0 If a project manager finds him or herself in quadrant #1 (Important\u00a0\/ urgent) then they have already failed: the activity has become urgent and as such will be expensive –\u00a0thereby reducing profit.\u00a0 The whole goal is revolves around one key metric: what is the amount of labor required to earn a profit?<\/p>\n

They stray from the conventional accounting methods – but in a good way.<\/p>\n