Comment gérez-vous des projets multiples ou simultanés avec des exigences et des contraintes budgétaires différentes ?

As the Budget is based on an estimate, knowing and understanding the level of accuracy of that estimate is key. The Basis of Estimate is one of the most important artifacts to help you understand what portion of the cost is scope based, assumed or allowances for example. Knowing this should tie directly to the risk assessment of the projects and allow for better understanding of how to manage different projects budgets at once.

Analogous estimating: This method involves using historical data from similar projects to estimate the cost of a current project. It is based on the assumption that projects that are alike in scope, quality, and duration will have similar cost patterns. Parametric estimating: This method involves using a statistical relationship between a particular activity and its cost drivers, such as labor rates and productivity. Bottom-up estimating: This method involves breaking down the project into detailed tasks and estimating the cost of each task. Three-point estimating: The optimistic (O), pessimistic (P), and most likely (M) estimates. The three values are used to calculate an expected value using the formula: (O + 4M + P) / 6.

The budget needs to have an anchor in reality and not be too enthusiastic. Benchmarking with another player in the industry can help to have a real return on investment. We need to stay grounded and avoid over-feature a project with options that have no internal or external customer needs.

Another important aspect after establishing the busget(s) is to obtain the necessary approvals for funding to ensure that the budget has been reviewed and accepted by the project sponsor and/or steering committee or senior management.

I've found that establishing clear and realistic budget goals for each project is absolutely crucial. Aligning these budgets with the project's objectives, communicating them effectively to the team, and conducting thorough risk assessments using SMART criteria have been key steps in ensuring project financial success. This approach not only facilitates better resource allocation but also allows for proactive financial control, ultimately contributing to the on budget delivery of projects.

I agree that it is helpful to use a standard format and terminology for budgeting and reporting to stakeholders who sit across the different projects, but there are also times when using a different approach can be more beneficial. For example, a project that sits within an HR department could differ significantly from one that relates to a commercial function and the stakeholders for each may have a very different level of understanding of budget formats and terminology. The way you ask them to record costs and the way you report information to them should be tailored to their individual learning and thinking styles so they are able to understand it. As project manager, you should be skilled to adapt your approach to suit the audience.

In my experience, a consistent and transparent budgeting system is essential when managing multiple project budgets. It streamlines communication, enhances accountability, and ensures everyone is on the same page. Personally, I've found success using tools like Excel, Google Sheets, and Xero for my financial management tasks. Using standardized formats, reliable software, and clear roles and responsibilities simplifies the process and improves decision making.

It is key to understand that budgets are only estimates and they need to be monitored and adjusted as the project progresses. Forecasts and cash flows will vary each month depending on the current status of the project and other contributing factors.

Reviewing the current numbers and projecting out the status to completion for each project is necessary to stay ahead of any challenges. You can see where you are going over budget and course correct by paying special attention to that area or changing out resources as needed. In areas where you are at/ under budget, you can look to those resources to help provide efficiencies for other projects.

Communication is key in managing any project of any scale. The key to success is a clear communication process with internal and external stakeholders to ensure the whole project team is aligned and are working with a common goal.

Communication and human onboarding on the project is the key to success. It could help to hire a coaching team to embrace the change upfront in the project and at key miles stones.

Creating a lessons learnt log is a fundamental process in learning from the successes and failures of the project. It is a process that a lot tend to oversee and end up doing similar mistakes in future projects. Keep a log and document your experience to help you improve on future projects.

Ensure stakeholders are greatly involve in the budgeting process especially the project owner and process owner with user department. Their input to the budget process will go along way in the success.

At each stage during the life of the project, ensure the expectation of the stakeholder is aligned with progress made. Often times, lack of clear communication could lead to costly delays if regular consultation is not carried out.

Effectively managing multiple projects with diverse budgeting requirements involves prioritizing projects based on strategic importance, tailoring individual budgets to specific needs, and balancing resource allocation to prevent over-commitment. Conducting comprehensive risk analyses, implementing robust monitoring systems, and fostering cross-project communication are crucial for success. Develop flexible budgets that align with organizational goals, provide regular updates to stakeholders, and plan for potential resource conflicts between projects. Embrace a learning culture, utilizing insights from each project to continuously improve budgeting processes for future endeavors.