Gaining Business Acumen for Project Managers from edX

To be a successful project professional, you must constantly evaluate the project efforts and key decisions to ensure that they are aligned with and support the organizational goals at the same time, meeting compliance requirements set by the organization and/or external entities.

Linked to the Strategic and Business Management skill area of the PMI Talent Triangle®, this course will highlight the connection between projects and organizational strategy. Learners will need to demonstrate knowledge of and expertise in the industry/organization, so as to align the project goals and objectives to the organizational goals and enhance performance to better deliver business outcomes. Additional topics in this module will include compliance management and an understanding of how internal and external factors impact project outcomes.

In a complex business environment, the project manager must be aware of the external landscape and internal requirements that can impact the project activities and outcomes:

Have a strong understanding of macro and micro influences
Interpret trends from both the macro and micro perspectives in order to factor these elements into the planning and delivery of business value
Identify compliance requirements and ensure their project efforts and execution adhere to compliance standards.
Learn how to structure the project in a way that makes it both strategic and compliant.
Consider how compliance can impact the cost, risk, and timeline of your project.
Learn strategies that make sure you are in accordance with regulations

Learners will gain insight into the strategies and tools to ensure the project is on track, while continually surveying internal and external factors. When considering changes in scope, you must consider how these could impact multiple project constraints. Additionally, course participants will discover how the adaptive environment enables the team to streamline modifications to the project direction to account for changing priorities.

By the end of the course, you will be exposed to the tools and techniques to ensure your projects are compliant and support your company's mission. By thinking about project management as an integrated whole, you can better align your activities and projects to the overall goals of your organization. Additionally, upon successful completion of this course, learners can earn 8 contact hours of project management education which are recognized by the Project Management Institute (PMI). A total of 35 contact hours in project management education are a requirement to those looking to achieve the Project Management Professional (PMP®)certification. Learners will finish this course with increased knowledge of the better practice tips to engage stakeholders and be more than ready to continue their project management and PMP® journey, which we hope completes your certificate with us.

What's inside

Learning objectives

At the end of the course learners will:
Plan for and manage compliance requirements of their projects
Identify and ensure delivery of project benefits

Evaluate and address external business environment changes
Recognize the tools and strategies to support the organization and support organizational change

At the end of the course learners will:
Plan for and manage compliance requirements of their projects
Identify and ensure delivery of project benefits
Evaluate and address external business environment changes
Recognize the tools and strategies to support the organization and support organizational change

Syllabus

Week 1: In the first week, participants will learn that good project management is about ensuring that the goals of projects closely align with the strategic goals of the business. One of the greatest challenges in projects is the need to comply with certain rules and regulations, both internal and external to the organization executing them.

Week 2: The second week will review the importance of benefits management to include, defining and investigating benefits, documenting agreement on ownership of benefits, establishing a measurement system to track benefits, evaluating the delivery options to demonstrate value, and keeping stakeholders apprised of the progress of the project to deliver value.

Week 3: The third week entails surveying changes to the external business environment, assisting and prioritizing the impacts on project scope, recommending options for project scope changes, and continually reviewing external business environment for impacts on the project scope.

Week 4: The fourth and final week puts a spotlight on the strategic focus of the project manager. Learners will grasp the concept that their project work supports the strategic goals of the organization and that change management is an important element of this. This course will also address how the selection of the choice of project management approach impacts organizational change efforts as well.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Learners who want to develop skills to be more strategic in their project management work will benefit from this course

Learners who want to be better at managing compliance in their project work will benefit from this course

Learners who want to gain insight into how project management supports overarching organizational goals will benefit from this course

Learners who are already managing projects may benefit from this course, depending on the scope and nature of their work

Learners should ensure that they have some experience with project management before taking this course

Learners who want to upskill so that they can apply for roles that oversee large or strategically important projects may benefit from this course

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Gaining Business Acumen for Project Managers with these activities:

Read 'The Lean Startup'

Show steps

Gain insights into the lean methodology and its application in project management, particularly in the context of agile development and product development.

View The Startup Way: How Modern Companies Use... on Amazon

Show steps

Read the book and highlight key concepts.
Summarize the author's approach to building and iterating products.
Identify ways to incorporate lean principles into your own project management practices.

Review 'A Guide to the Project Management Body of Knowledge'

Show steps

Review the foundational concepts of project management, including the project life cycle, stakeholders, and resource management.

View Risk Management in Portfolios, Programs, and... on Amazon

Show steps

Read the first five chapters of the book.
Summarize the key concepts in each chapter.
Identify areas where you need further clarification.

Follow tutorials on project planning and execution

Show steps

Enhance your understanding of project planning and execution by following guided tutorials, which will provide step-by-step instructions and examples.

Browse courses on Project Planning

Show steps

Identify reputable online platforms that offer tutorials on project planning and execution.
Review the course outlines and select those that align with your learning needs.
Follow the tutorials, taking notes and completing any practice exercises.

Three other activities

Expand to see all activities and additional details

Show all six activities

Complete practice questions on project management concepts

Show steps

Sharpen your understanding of project management concepts and improve your problem-solving skills by completing practice questions.

Browse courses on Project Management Concepts

Show steps

Find practice questions in textbooks, online resources, or mock exams.
Allocate dedicated time to solve the questions.
Review your answers and identify areas where you need improvement.

Develop a project plan for a hypothetical project

Show steps

Apply your knowledge of project planning and execution by developing a detailed project plan for a hypothetical project, outlining the scope, timeline, budget, and resources.

Browse courses on Project Planning

Show steps

Define the project scope and objectives.
Identify the project stakeholders and their roles.
Create a work breakdown structure (WBS) to outline the project tasks.
Estimate the project timeline and budget.
Identify the resources needed for the project.

Enroll in a hands-on project management workshop

Show steps

Gain practical experience and enhance your skills by participating in a hands-on project management workshop, led by industry experts who can provide guidance and feedback.

Show steps

Identify reputable project management workshops in your area.
Review the workshop content and select the one that aligns with your learning goals.
Register for the workshop and actively participate in the sessions.

Career center

Learners who complete Gaining Business Acumen for Project Managers will develop knowledge and skills that may be useful to these careers:

Program Manager

As a Program Manager, you will be responsible for managing multiple projects and ensuring that they are aligned with the organization's strategic goals. This course will help you develop the skills you need to succeed in this role, including how to manage multiple projects, develop and manage project budgets, and track and report on project progress. Additionally, this course will help you gain insights into the strategies and tools used by Program Managers.

See salaries and explore the career path for Program Manager

Project Manager

As a Project Manager, you will be responsible for planning, executing, and closing projects. This course will help you develop the skills you need to succeed in this role, including how to manage compliance requirements, identify and deliver project benefits, and evaluate and address external business environment changes. Additionally, this course is from the University System of Maryland, which has a prestigious reputation for its Project Management program.

See salaries and explore the career path for Project Manager

Portfolio Manager

As a Portfolio Manager, you will be responsible for managing a portfolio of projects and ensuring that they are aligned with the organization's strategic goals. This course will help you develop the skills you need to succeed in this role, including how to develop and manage a project portfolio, prioritize projects, and track and report on portfolio performance. Additionally, this course will help you gain insights into the strategies and tools used by Portfolio Managers.

See salaries and explore the career path for Portfolio Manager

Business Analyst

As a Business Analyst, you will be responsible for analyzing business needs and developing solutions to improve business processes. This course will help you develop the skills you need to succeed in this role, including how to understand the business environment, identify and prioritize business needs, and develop and evaluate solutions. Additionally, this course will help you gain exposure to the tools and techniques used by Business Analysts.

See salaries and explore the career path for Business Analyst

IT Project Manager

As an IT Project Manager, you will be responsible for planning, executing, and closing IT projects. This course will help you develop the skills you need to succeed in this role, including how to manage IT projects, understand IT project risks, and manage IT project budgets. Additionally, this course will help you gain exposure to the tools and techniques used by IT Project Managers.

See salaries and explore the career path for IT Project Manager

Product Manager

As a Product Manager, you will be responsible for developing and managing products. This course will help you develop the skills you need to succeed in this role, including how to understand customer needs, develop product roadmaps, and manage product development teams. Additionally, this course will help you gain exposure to the tools and techniques used by Product Managers.

See salaries and explore the career path for Product Manager

Business Development Manager

As a Business Development Manager, you will be responsible for developing and managing business relationships. This course will help you develop the skills you need to succeed in this role, including how to identify and qualify leads, develop and manage sales pipelines, and close deals. Additionally, this course will help you gain exposure to the tools and techniques used by Business Development Managers.

See salaries and explore the career path for Business Development Manager

Consultant

As a Consultant, you will be responsible for providing advice and guidance to clients. This course will help you develop the skills you need to succeed in this role, including how to understand client needs, develop and deliver consulting solutions, and manage client relationships. Additionally, this course will help you gain exposure to the tools and techniques used by Consultants.

See salaries and explore the career path for Consultant

Financial Analyst

As a Financial Analyst, you will be responsible for analyzing financial data and making recommendations to clients. This course will help you develop the skills you need to succeed in this role, including how to understand financial statements, analyze financial data, and make financial recommendations. Additionally, this course will help you gain exposure to the tools and techniques used by Financial Analysts.

See salaries and explore the career path for Financial Analyst

Operations Manager

As an Operations Manager, you will be responsible for managing the day-to-day operations of a business. This course will help you develop the skills you need to succeed in this role, including how to manage operations, develop and implement operational plans, and track and report on operational performance. Additionally, this course will help you gain exposure to the tools and techniques used by Operations Managers.

See salaries and explore the career path for Operations Manager

Marketing Manager

As a Marketing Manager, you will be responsible for developing and managing marketing campaigns. This course will help you develop the skills you need to succeed in this role, including how to understand customer needs, develop marketing strategies, and manage marketing budgets. Additionally, this course will help you gain exposure to the tools and techniques used by Marketing Managers.

See salaries and explore the career path for Marketing Manager

Sales Manager

As a Sales Manager, you will be responsible for managing a sales team and achieving sales goals. This course will help you develop the skills you need to succeed in this role, including how to develop and manage a sales team, develop and implement sales strategies, and track and report on sales performance. Additionally, this course will help you gain exposure to the tools and techniques used by Sales Managers.

See salaries and explore the career path for Sales Manager

Human Resources Manager

As a Human Resources Manager, you will be responsible for managing the human resources function of a business. This course will help you develop the skills you need to succeed in this role, including how to recruit and hire employees, develop and implement HR policies, and manage employee relations. Additionally, this course will help you gain exposure to the tools and techniques used by Human Resources Managers.

See salaries and explore the career path for Human Resources Manager

Accountant

As an Accountant, you will be responsible for managing the financial records of a business. This course may be useful in helping you develop the skills you need to succeed in this role, including how to understand accounting principles, prepare financial statements, and audit financial records. Additionally, this course may help you gain exposure to the tools and techniques used by Accountants.

See salaries and explore the career path for Accountant

Lawyer

As a Lawyer, you will be responsible for providing legal advice and representing clients in court. This course may be useful in helping you develop the skills you need to succeed in this role, including how to understand legal principles, research legal issues, and draft legal documents. Additionally, this course may help you gain exposure to the tools and techniques used by Lawyers.

See salaries and explore the career path for Lawyer