UMT Project Essentials

Traditional project financial management is flawed. A smarter alternative, Project Financial Intelligence can bring relevance and rigor in tracking and evaluating investments.

A growing number of managers today rely on project and portfolio management to help them oversee their investment portfolio. One of the consequences of this dependence has been the discovery that current financial management practices fall short of their intended goals. Results of a survey we conducted in September 2010 with leading U.S. companies indicated that almost 80 percent of those polled felt some level of dissatisfaction with their current financial management methods. Our initial findings suggest that some of the key obstacles causing this are rooted in knowledge deficiencies, lack of management support, and use of ineffective software.

PFI integrates Project Management, Financial Management, and Business Intelligence (BI), providing valuable insight into project financials that significantly improves decision making and insight throughout the project lifecycle. The union of these different types of information represents a major departure from Project Financial Management (PFM) principles, processes, and practices. That’s because PFI focuses more on the details of cost and benefits estimating than PFM. The information is thorough, logical, and defensible. PFI also provides more insight into decisions. In addition, PFI integrates project and business domains and helps to improve governance.

Read Mike Gruia’s (Chairman of UMT) whitepaper, Why Companies Need Project Financial Intelligence, to learn more about how PFI helps organizations select the right initiatives and gain control over project and portfolio expenditure.
This paper also explores the cost of PFI illiteracy and the benefits from PFI use going forward.

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