101 Project Management Problems and How to Solve Them

18. How can I secure and retain adequate funding throughout my project?

The most important factor in ensuring adequate funding is maintaining strong project sponsorship. As discussed in the previous two problems, strong sponsorship depends upon keeping the formal commitment of your sponsor and understanding your sponsor’s perspective on “what’s in it for me?”

Using the Project Business Case

Every project has two financial numbers that really matter. The larger number (at least it’s assumed to be the larger number) is what the project is worth—its value. The second number is what the project costs—its budget. If the business case for the project is sound and the value is significant, then defending your project funding may only require periodic ...