1
00:00:03,240 --> 00:00:09,840
‫Using the budget as a conversation starter, everyone wants to discuss money, how can we save or how

2
00:00:09,840 --> 00:00:11,070
‫can we make more of it?

3
00:00:11,790 --> 00:00:13,860
‫The same goes in corporate America.

4
00:00:14,460 --> 00:00:20,190
‫Whether you're at the starting point of asking for a budget and the middle of a program, or if your

5
00:00:20,190 --> 00:00:24,950
‫program has ended, there are always points to highlight in team communications.

6
00:00:25,910 --> 00:00:31,070
‫Let's go back to the initial ask when you're asking for money for your program or for your project.

7
00:00:31,670 --> 00:00:37,310
‫Having both stakeholders and team members in the know are really a part of the process and persuading

8
00:00:37,310 --> 00:00:44,060
‫others to adopt the proposed actions and for them to understand what is being communicated. When walking

9
00:00:44,060 --> 00:00:52,700
‫and with your ask, you want to one share the project or program goals, two justify the budget request.

10
00:00:53,600 --> 00:00:54,070
‫Three.

11
00:00:54,260 --> 00:00:55,580
‫Have an action plan.

12
00:00:56,750 --> 00:01:00,020
‫Or discuss how you plan to execute and implement.

13
00:01:01,210 --> 00:01:05,110
‫Five, if you already have a similar project or program before.

14
00:01:05,590 --> 00:01:09,760
‫Discuss what the feedback and what the results are from this particular program.

15
00:01:10,150 --> 00:01:13,600
‫So many things to take into account when discussing communication.

16
00:01:14,880 --> 00:01:20,610
‫So when we're going in for the US, we have to be sure we are prepared to answer those five questions.

17
00:01:21,150 --> 00:01:22,800
‫Let's say we're in the middle of a project.

18
00:01:23,070 --> 00:01:24,690
‫Communication is still vital.

19
00:01:25,470 --> 00:01:30,150
‫Any time you have a chance to bring up what your program is doing and throw a gold star on the list.

20
00:01:30,540 --> 00:01:34,740
‫That's how you're really going to influence leadership to add more money into your bucket.

21
00:01:35,430 --> 00:01:40,980
‫You're going to quote unquote brag about your project, especially if you finish that particular project

22
00:01:40,980 --> 00:01:42,180
‫and you were under budget.

23
00:01:42,720 --> 00:01:47,940
‫This will highlight you as being not only a great leader, but a person who understands finances and

24
00:01:47,940 --> 00:01:50,130
‫budgeting while keeping the company under budget.

25
00:01:50,970 --> 00:01:56,220
‫This recognition could be beneficial and going in for the ask for your next program or project.

26
00:01:57,090 --> 00:02:00,580
‫Again, you should share the feedback from your actual results.

27
00:02:00,600 --> 00:02:06,110
‫Once your project is complete with all of those who have an interest in this particular project. Any

28
00:02:06,120 --> 00:02:12,030
‫time you have the floor in a particular meeting, daily stand up corporate annual meetings, weekly

29
00:02:12,030 --> 00:02:13,650
‫meetings or monthly meetings.

30
00:02:14,010 --> 00:02:18,390
‫You definitely want to bring up where your project stands and the financial results.

31
00:02:18,870 --> 00:02:23,760
‫There are so many examples of people waiting until the last minute to communicate the program's budget.

32
00:02:24,630 --> 00:02:29,850
‫Let's say you have three months left on your program or project and you realize you're running out of

33
00:02:29,850 --> 00:02:30,180
‫money.

34
00:02:31,080 --> 00:02:34,920
‫You have three months left and you've never communicated this budget with anyone.

35
00:02:35,790 --> 00:02:38,820
‫You've never told anyone the progress or the status.

36
00:02:39,820 --> 00:02:45,970
‫Waiting until the last minute to request additional money can leave your project up in the air, depending

37
00:02:45,970 --> 00:02:49,480
‫on your company and depending on what those rules and processes are.

38
00:02:49,930 --> 00:02:52,930
‫It could take months for a new budget amount to be approved.

39
00:02:53,380 --> 00:02:55,660
‫Also, think about these key things.

40
00:02:56,500 --> 00:02:59,470
‫Is it a time of year where they're closing out the fiscal year?

41
00:03:00,660 --> 00:03:02,520
‫Is it a time of year for auditing?

42
00:03:03,330 --> 00:03:06,690
‫You have to understand the right time to ask for more money.

43
00:03:07,470 --> 00:03:12,690
‫So at the very beginning, you need to ask those questions from your accounting and finance department.