Project Management

Make your budget process smoother! Use my checklist based on my 15 years of experience. 🔗 Download it here: https://lnkd.in/edvf5exs Here is what is inside: 1️⃣ Preparation & Planning 🔲 Understand management's expectations concerning growth, strategy & profitability 🔲 Set clear financial goals and differentiate between short and long-term objectives 🔲 Establish a structured approach for managing the budget process (deadlines, owners) 🔲 Ensure that budgeting activities align with the organization’s overarching goals and priorities Tip: you can use ChatGPT to draft your budget instructions or budget memo. If you want to learn how to use ChatGPT for Finance, you can learn it here: https://lnkd.in/e8RGdYsK 2️⃣ Sales Planning 🔲 Choose an appropriate method for sales planning 🔲 Detail your budget sufficiently for effective analysis 🔲 Consider external factors like market trends, economic conditions impacting the business 🔲 Ensure accurate phasing of the sales plan 🔲 Conduct 'what-if' analysis to understand impacts on resources and profitability 3️⃣ Operational & Resource Planning 🔲 Plan for production, delivery, and workload 🔲 Account for direct headcounts & determine capacity 🔲 Determine material needs and plan for necessary investments 🔲 Collaborate with cross-functional teams to develop a comprehensive operational plan 4️⃣ Costing & Overhead Planning 🔲 Compute standard costs: direct labor, material costs, and manufacturing overhead allocation 🔲 Budget for individual departments and allocate overhead costs accordingly 5️⃣ Financial Statements & Reporting 🔲 Translate the budget into key financial statements: Income Statement, Balance Sheet, & Cash Flow 🔲 Establish a structured reporting process to communicate budget-related information to stakeholders 🔲 Create a visual budget performance dashboard to quickly assess the financial performance 6️⃣ Monitoring & Analysis 🔲 Regularly monitor and analyze budget variances to identify deviations 🔲 Perform sensitivity analysis to understand potential impacts on the budget 🔲 Leverage financial data analysis tools to identify trends, patterns, and opportunities for improvement 7️⃣ Communication & Collaboration 🔲 Foster open communication and shared financial goals in relationships, both internally and externally 🔲 Engage with stakeholders from different departments to gather valuable insights 🔲 Develop and communicate clear budgeting policies and procedures 8️⃣ Final Review & Implementation 🔲 Review the budget for any inconsistencies or errors 🔲 Communicate the finalized budget to all relevant departments and ensure its implementation 👉 Did I miss anything? Get this checklist to organize your budget process. Link below in comments.

Most CEOs make million-dollar decisions using the same process they use to pick lunch. And that's exactly why 70% of strategic initiatives fail. Here's what I've noticed after watching hundreds of leaders in action: The average founder attacks problems like a firefighter. See problem → Rush to solution → Wonder why it keeps happening. But the best CEOs? They're more like detectives. They know that the first solution is rarely the right solution. The obvious answer is usually incomplete. And moving fast without thinking costs more time than thinking first. I learned this the hard way. Years ago, our sales were tanking. My gut said "hire more salespeople." Seemed obvious. More people = more sales, right? Wrong. When I finally slowed down to really examine the problem, I discovered our pricing was confusing customers. Our best prospects were ghosting us after demos. The fix? A simple pricing calculator on our website. Cost: $500 and one afternoon. Result: 40% increase in close rate. The expensive hiring spree I almost launched? Would've made things worse. Here's what separates strategic thinkers from reactive leaders: 1/ They question before they answer. What's really broken here? What are we not seeing? 2/ They zoom out before they zoom in. How does this connect to everything else? What's the real impact? 3/ They explore before they execute. What are ALL our options? What haven't we tried? 4/ They test before they invest. Can we try this small first? What would prove this works? 5/ They align before they advance. Is everyone clear on the why? Do we all see the same target? The ironic part? This "slower" approach is actually faster. Because you solve the right problem. Once. Instead of the wrong problem. Over and over. Strategic thinking isn't about being smarter. It's about having a better process. One that turns your biggest challenges into your biggest advantages. What expensive mistake could better thinking have helped you avoid? P.S. Want a PDF of my Strategic Thinking Wheel? Get it free: https://lnkd.in/dBGUrp9q ♻️ Repost to help a CEO in your network. Follow Eric Partaker for more strategy insights. — 📢 Want to lead like a world-class CEO? Join my FREE TRAINING: "How to Work with Your Board to Accelerate Your Company’s Growth" Thu Jul 10th, 12 noon Eastern / 5pm UK time https://lnkd.in/dA8ywuY4 📌 The CEO Accelerator starts July 23rd. 20+ Founders & CEOs have already enrolled. Learn more and apply: https://lnkd.in/d3gW4JPH

Last week, I described four design patterns for AI agentic workflows that I believe will drive significant progress: Reflection, Tool use, Planning and Multi-agent collaboration. Instead of having an LLM generate its final output directly, an agentic workflow prompts the LLM multiple times, giving it opportunities to build step by step to higher-quality output. Here, I'd like to discuss Reflection. It's relatively quick to implement, and I've seen it lead to surprising performance gains. You may have had the experience of prompting ChatGPT/Claude/Gemini, receiving unsatisfactory output, delivering critical feedback to help the LLM improve its response, and then getting a better response. What if you automate the step of delivering critical feedback, so the model automatically criticizes its own output and improves its response? This is the crux of Reflection. Take the task of asking an LLM to write code. We can prompt it to generate the desired code directly to carry out some task X. Then, we can prompt it to reflect on its own output, perhaps as follows: Here’s code intended for task X: [previously generated code] Check the code carefully for correctness, style, and efficiency, and give constructive criticism for how to improve it. Sometimes this causes the LLM to spot problems and come up with constructive suggestions. Next, we can prompt the LLM with context including (i) the previously generated code and (ii) the constructive feedback, and ask it to use the feedback to rewrite the code. This can lead to a better response. Repeating the criticism/rewrite process might yield further improvements. This self-reflection process allows the LLM to spot gaps and improve its output on a variety of tasks including producing code, writing text, and answering questions. And we can go beyond self-reflection by giving the LLM tools that help evaluate its output; for example, running its code through a few unit tests to check whether it generates correct results on test cases or searching the web to double-check text output. Then it can reflect on any errors it found and come up with ideas for improvement. Further, we can implement Reflection using a multi-agent framework. I've found it convenient to create two agents, one prompted to generate good outputs and the other prompted to give constructive criticism of the first agent's output. The resulting discussion between the two agents leads to improved responses. Reflection is a relatively basic type of agentic workflow, but I've been delighted by how much it improved my applications’ results. If you’re interested in learning more about reflection, I recommend: - Self-Refine: Iterative Refinement with Self-Feedback, by Madaan et al. (2023) - Reflexion: Language Agents with Verbal Reinforcement Learning, by Shinn et al. (2023) - CRITIC: Large Language Models Can Self-Correct with Tool-Interactive Critiquing, by Gou et al. (2024) [Original text: https://lnkd.in/g4bTuWtU ]

Conflict is inevitable. Emotional intelligence is the antidote. This “conversation guide” is a blueprint for emotional intelligence in action. ✅ Every step here reflects self-awareness, empathy, impulse control, and respect for others’ perspectives — the core pillars of EQ. ✅ Difficult conversations often go wrong not because of what we say, but how and when we say it. ✅ Mastering these skills turns conflict into collaboration. ✅ You create safety, preserve dignity, and move toward solutions — not stand-offs. Bottom line: 🧠 The emotionally intelligent leader doesn’t avoid hard conversations because they know how to have them well. That’s where trust is built, relationships deepen, and real progress happens. Give it another read, and tell me what you think... HOW TO MASTER DIFFICULT CONVERSATIONS 1️⃣ Timing Matters ❌ Don’t ambush someone when they’re stressed or busy. ✅ “Can we find a time that works for both of us?” 2️⃣ Starting With Empathy, Not Ego ❌ Don’t jump in with blame or judgment. ✅ Begin by acknowledging their perspective and emotions. 3️⃣ Staying Steady, Not Reactive ❌ Don’t snap back or shut down. ✅ “Okay, I hear you. Can you help me understand what happened?” 4️⃣ Tackling It Early ❌ Don’t let negative feelings fester. ✅ Bring up issues when they’re still small. 5️⃣ Creating The Right Setting ❌ Don’t have tough talks in public or around peers. ✅ “Mind if we step aside and talk in private for a minute?” 6️⃣ Focusing On The Issue ❌ Don’t bring up past grudges or performance issues. ✅ Stay on topic and address one concern at a time. 7️⃣ Finding Common Ground ❌ Don’t frame the conversation as “winning” vs. “losing.” ✅ “We both want [X] by [date and time], right?” 8️⃣ Accepting Responsibility ❌ Don’t deflect or minimize your role in the situation. ✅ “I could’ve handled that better — my bad.” 9️⃣ Avoiding Absolutes ❌ Don’t use words like “always,” “never,” or “impossible.” ✅ Recognize nuance and exceptions to patterns. 🔟 Offering Solutions ❌ Don’t just present problems without plans for moving forward. ✅ “Here’s what I think could help... what do you think?” --- ♻️ Repost if this resonates. ➕ Follow Travis Bradberry for more and sign up for my weekly LinkedIn newsletter. Do you want more like this? 👇 📖 My new book, "The New Emotional Intelligence" is now 10% off on Amazon and it's already a bestseller.

Stuck in an endless loop of client changes? Lost track of what revision this constitutes? Yeah. Been there. Done that. The secret? It's not about saying no. It's about saying yes to the right things upfront. Every project that goes sideways starts the same way: Vague agreements. Fuzzy boundaries. Good intentions. Six weeks later you're bleeding money and everyone's frustrated. Here's my framework after 30 years of running two 8-figure businesses: The SOW is your salvation. Not some boilerplate template. A real document that covers: • Exact deliverables (not "design work" but "3 homepage concepts, 2 rounds of revisions") • Hours of operation ("We respond M-F, 9-5 PST. Weekend requests get Monday responses") • Revision rounds spelled out ("Round 1 includes up to 5 changes. Round 2 includes 3.") • Feedback cycles defined ("48-hour turnaround for client feedback or the project may be delayed or additional fees may be incurred") But here's what most people miss— Don't work on client notes immediately. Client sends 37 pieces of feedback at 11pm Friday? Producer sends conflicting notes from the CEO? Marketing wants one thing, sales wants another? Stop. Collect everything first. Resolve the conflicts. Get on the phone and discuss it with your client to get alignment. Separate the "have to haves" from the "nice to haves". Then present unified changes. "Based on all feedback received, here are the 8 changes we'll implement. This constitutes revision round 2 of 3." Watch how fast the random requests stop. No extra work that goes unappreciated. No more feelings of being taken advantage of. Communicate before the crisis, prevents the crisis from happening. "Just so you know, we're entering round 2. You have one more included. After that, it's $X per additional round." No surprises. No awkward money conversations. No resentment. Scope creep isn't a them problem. It's a you problem. And that's good news, because that means you are in control. They're not trying to take advantage. They just don't know where the boundaries are because you never drew them. Draw the lines early. Communicate them clearly. Everyone wins. What's your most painful scope creep story? What boundary would've prevented it? Small Business Builders #projectmanagement #clientmanagement #businessgrowth

Explaining the Evaluation method LLM-as-a-Judge (LLMaaJ). Token-based metrics like BLEU or ROUGE are still useful for structured tasks like translation or summarization. But for open-ended answers, RAG copilots, or complex enterprise prompts, they often miss the bigger picture. That’s where LLMaaJ changes the game. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗶𝘁? You use a powerful LLM as an evaluator, not a generator. It’s given: - The original question - The generated answer - And the retrieved context or gold answer 𝗧𝗵𝗲𝗻 𝗶𝘁 𝗮𝘀𝘀𝗲𝘀𝘀𝗲𝘀: ✅ Faithfulness to the source ✅ Factual accuracy ✅ Semantic alignment—even if phrased differently 𝗪𝗵𝘆 𝘁𝗵𝗶𝘀 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: LLMaaJ captures what traditional metrics can’t. It understands paraphrasing. It flags hallucinations. It mirrors human judgment, which is critical when deploying GenAI systems in the enterprise. 𝗖𝗼𝗺𝗺𝗼𝗻 𝗟𝗟𝗠𝗮𝗮𝗝-𝗯𝗮𝘀𝗲𝗱 𝗺𝗲𝘁𝗿𝗶𝗰𝘀: - Answer correctness - Answer faithfulness - Coherence, tone, and even reasoning quality 📌 If you’re building enterprise-grade copilots or RAG workflows, LLMaaJ is how you scale QA beyond manual reviews. To put LLMaaJ into practice, check out EvalAssist; a new tool from IBM Research. It offers a web-based UI to streamline LLM evaluations: - Refine your criteria iteratively using Unitxt - Generate structured evaluations - Export as Jupyter notebooks to scale effortlessly A powerful way to bring LLM-as-a-Judge into your QA stack. - Get Started guide: https://lnkd.in/g4QP3-Ue - Demo Site: https://lnkd.in/gUSrV65s - Github Repo: https://lnkd.in/gPVEQRtv - Whitepapers: https://lnkd.in/gnHi6SeW

If I wanted to break into Data Analytics in 2024, these are the 4 types of projects and skills I'd include in my portfolio. A lot of people will tell you a magic formula-- "you need exactly 3 Tableau projects, 2 SQL projects, and an Excel project"🤡 I promise you, no one is out there looking to see Excel projects in portfolios LOL! Instead of focusing on checking boxes to complete the perfect formula of the right number of tools and projects, focus on the types of analyses to show the right quality of skills: 1. An EDA (exploratory data analysis) Skills Shown: investigation, problem solving, curiosity, data viz, developing insights and trends, communication 2. A Dashboard Skills Shown: data viz, developing KPIs and metrics, storytelling, answering business questions, pushing to prod 3. A Full Stack Project Skills Shown: Data cleaning & prep, ETL, data modeling, data viz, business recommendations, and storytelling 4. A Funnel Analysis Skills Shown: Data prep and wrangling, translating a business problem into data, project scoping, developing insights, making business recommendations to stakeholders, and storytelling (check out my payment funnel analysis in my course Solve Real-World Data Problems in SQL!) You could accomplish all 4 of these types of analyses in 1 big project. Or you could show them all separately. It doesn't matter how you do it. But whatever you do, stop taking courses and start doing THIS!⚡️ Happy Monday to all my BDEs⚡️💕

Do you walk into board meetings with a slide deck? Or with an executive finance pack? One tells a story. The other drives a decision. A slide deck tells a story you want the board to hear. A finance pack gives the board what it needs to govern, challenge, and approve. If your board isn't asking hard questions, it's not because things are going well. It's because the information you're presenting doesn't invite rigor. And that’s a governance problem. Here's how to build a board-ready finance pack, from the foundation up: LEVEL 1: Strategic Thesis ↳ What is the company's capital strategy and where is value being created? ↳ This is the anchor. Every number in the pack should trace back to this thesis. LEVEL 2: Capital Allocation ↳ How is capital being deployed across the business? ↳ Show where dollars are going, why, and what return profile each allocation carries. LEVEL 3: Cash Position ↳ What is the real-time liquidity picture? ↳ Not just the balance. The runway, the burn context, the covenant headroom, the collection cycle. LEVEL 4: Scenario Map ↳ What happens if assumptions shift? ↳ Give the board two or three scenarios with clear triggers, trade-offs, and decision points built in. LEVEL 5: The Board Asks ↳ What questions should the board be asking based on this data? ↳ Pre-frame the governance conversation. Guide their attention to what matters most right now. Most mid-market CEOs build from the top down.  They start with what the board might ask and reverse-engineer a defensive narrative. That's backwards. When you build from the thesis up, every layer reinforces the one below it. The numbers have context.  The scenarios have grounding.  The questions have depth. Investor-grade governance doesn't require a Fortune 500 finance team. It requires a structure that makes the right conversations inevitable. If your board leaves the room without challenging a single assumption, the pack failed. Not the Board. Great CEOs don't just report to their boards.  They equip them to govern. That's financial intelligence at the leadership level. ♻️ Like, Comment and Repost to help your network. Follow Oana Labes, MBA, CPA for strategic financial leadership. -------- 📌 Ready to Scale with Full Command of your Own Numbers? Join The CEO Financial Intelligence Academy. 5* Curriculum. Coaching. Community. Your CEO Dashboard set up Day 1. Get your CEO Checklist here → https://bit.ly/4es64ye

In 2011, the Amazon Appstore failed on launch and Jeff Bezos was furious. It was my fault, and I handled one aspect of recovery so poorly that one of my engineers quit. I still regret it 14 years later. Please learn from my mistake. The main lesson is that when you are leading through a crisis, it can feel like it is all about you. It isn’t. It is about: 1) Solving the problem 2) Guiding your team through it The product issue was that there were some pretty simple bugs, and we solved those problem well enough that I was eventually promoted. Where I failed was in guiding my team through the crisis. My leadership miss was that I neglected to encourage and support the engineer who had written the bad code. He did a great job stepping up and supporting the effort to fix the problem, but shortly afterward, he resigned. During the crisis, I failed to make clear to him that we did not blame him for the launch failure despite the bugs. I imagine that left room for him to think we blamed him or that he didn’t belong. It is also possible that others did blame him directly and that I was too caught up in the crisis to realize it. Both instances were my responsibility as the leader of the team. His resignation taught me a valuable lesson about leading through a crisis: No matter how bad the situation is, your team must be your first priority. If you make them feel safe, they will move heaven and earth to fix the problem. If you don’t, they may still fix the problem, but the team itself will never be the same. As a leader, here is how you can give them what they need: 1) Take the blame and do not allow others to be blamed. In some bug cases after this we did not release the name of the engineer outside the team in order to protect them from judgment or blame. 2) Separate fixing the problem from figuring out why it happened. Once the problem is fixed, you can focus on root-causing. This lowers the risk of searching for answers getting confused with searching for someone to blame. 3) Realize that anyone involved in the problem already feels bad. High performers know when they have fallen short and let their team down. As a leader you have to show them the path to growth and success after the crisis. They do not need to be beaten up on- they have taken care of that themselves. 4) See crises and problems as growth opportunities, not personal flaws. Your team comes with you in a crisis whether you like it or not, so you might as well come out stronger on the other side. As a leader, the responsibility for a crisis is yours in two ways: The problem itself and the effect it has on the future of the team. Don’t get too caught up in the first to think about the second. Readers- Has your team survived a crisis? How did you handle it?

Should you try Google’s famous “20% time” experiment to encourage innovation? We tried this at Duolingo years ago. It didn’t work. It wasn’t enough time for people to start meaningful projects, and very few people took advantage of it because the framework was pretty vague. I knew there had to be other ways to drive innovation at the company. So, here are 3 other initiatives we’ve tried, what we’ve learned from each, and what we're going to try next. 💡 Innovation Awards: Annual recognition for those who move the needle with boundary-pushing projects. The upside: These awards make our commitment to innovation clear, and offer a well-deserved incentive to those who have done remarkable work. The downside: It’s given to individuals, but we want to incentivize team work. What’s more, it’s not necessarily a framework for coming up with the next big thing. 💻 Hackathon: This is a good framework, and lots of companies do it. Everyone (not just engineers) can take two days to collaborate on and present anything that excites them, as long as it advances our mission or addresses a key business need. The upside: Some of our biggest features grew out of hackathon projects, from the Duolingo English Test (born at our first hackathon in 2013) to our avatar builder. The downside: Other than the time/resource constraint, projects rarely align with our current priorities. The ones that take off hit the elusive combo of right time + a problem that no other team could tackle. 💥 Special Projects: Knowing that ideal equation, we started a new program for fostering innovation, playfully dubbed DARPA (Duolingo Advanced Research Project Agency). The idea: anyone can pitch an idea at any time. If they get consensus on it and if it’s not in the purview of another team, a cross-functional group is formed to bring the project to fruition. The most creative work tends to happen when a problem is not in the clear purview of a particular team; this program creates a path for bringing these kinds of interdisciplinary ideas to life. Our Duo and Lily mascot suits (featured often on our social accounts) came from this, as did our Duo plushie and the merch store. (And if this photo doesn't show why we needed to innovate for new suits, I don't know what will!) The biggest challenge: figuring out how to transition ownership of a successful project after the strike team’s work is done. 👀 What’s next? We’re working on a program that proactively identifies big picture, unassigned problems that we haven’t figured out yet and then incentivizes people to create proposals for solving them. How that will work is still to be determined, but we know there is a lot of fertile ground for it to take root. How does your company create an environment of creativity that encourages true innovation? I'm interested to hear what's worked for you, so please feel free to share in the comments! #duolingo #innovation #hackathon #creativity #bigideas