As part of our video interview series with authors, experts, and thought leaders in project controls, project management, leadership, and career growth, I interviewed Dr. Alexia Nalewaik who is the author of Project Costs Recording and Reporting. To learn more about this book and order a copy, please click here.
Download the free audio mp3 podcast of this episode on iTunes.
Dr. Alexia Nalewaik has over 25 years of experience in project audit, estimating, cost/risk management, and governance. She is a Fellow of RICS Americas, AACE International, the Guild of Project Controls, and ICEC. Alexia is a Past President of AACE International, Past Chair of the International Cost Engineering Council, and past member of the Governing Council of RICS Americas.
Dr. Alexia has published two books on performance audit and reporting. Her latest book, Project Costs Recording and Reporting, was published in 2020. She wrote this book to address a couple of questions she was asked frequently: 1) “What software should I buy for my project?”; 2) “I’ve been asked to create a project report. What should I include in the report?”
According to Dr. Alexia, “Project reports are very specific to the needs of the stakeholders who are receiving them. There are countless ways of combining project information for consumption by stakeholders”. Project Costs Recording and Reporting book discusses the purpose of project reports, and provides examples of the format, content, timing, and audience for various types. Using principles of stakeholders and risk management, it presents a rationale for communication plans, enabling appropriate reporting at the project, program, and portfolio level.
On her LinkedIn profile, Dr. Alexia mentions: “Risk, stakeholders, data, truth, and process – this is my world, and the language of projects.” When I asked her about this statement, she responded: “I have almost 30 years of experience in the industry. I’ve spent over 15 of these years, specifically as an auditor. And as a result, I have a slightly different way of looking at projects. So, I definitely look at projects from the perspective of stakeholders, how they perceive risk, and how much transparency they wish they had when they receive information. I also view projects from a governance perspective, which is about processes and management controls”.
Dr. Alexia’s current research continues to focus on audit, assurance, and cost management. Following are three things that Dr. Alexia advises us to consider if we want to grow our career in project controls and project management:
Know Your Stakeholders
Dr. Alexia believes that as project professionals, we need to make sure we know who our stakeholders are. We should get to know them, get to know what level of influence they have, and what level of interest they have. We should also figure out what their needs are. Once we know their needs and how they define success, we can plan our project accordingly.
Follow the Money
Dr. Alexia also suggests that we should “follow the money” in our projects. In other words, we should understand where the money is coming from. Where it has gone to. And who has provided the money. By following the money, we can specify the stakeholders that are linked to the budget. So, “always follow the money because there’s something to be learned there”.
Always Double-Check
According to Dr. Alexia, “We rely so much on software”. It’s very easy to make mistakes in software we use. As Dr. Alexia suggest, it’s extremely important for those in project controls or in any other field to always double check the numbers and the output from the software and develop some sort of gut feeling and intuition for when numbers are wrong. “The last thing you need is for your report to go out with the wrong numbers. The last thing you need is to base your decisions perhaps on incorrect information”.
Resources
- The Audio version of the interview with Dr. Alexia Nalewaik on Project Controls Mastery Podcast
- Project Costs Recording and Reporting by Dr. Alexia Nalewaik
- PM Chat on Twitter
- Project Controls Training Programs
- Project Controls Video Tutorials
About Dr. Alexia Nalewaik
Dr. Alexia Nalewaik has over 25 years of experience in project audit, estimating, cost/risk management, and governance. She is a Fellow of RICS Americas, AACE International, the Guild of Project Controls, and ICEC. Alexia is a Past President of AACE International, Past Chair of the International Cost Engineering Council, and past member of the Governing Council of RICS Americas. She has published two books, on performance audit and reporting. Current research continues to focus on audit, assurance, and cost management. Connect with Dr. Alexia on LinkedIn or follow her with PMChat on Twitter.
About the Interviewer, Dr. Kamran Akbarzadeh
Dr. Kamran Akbarzadeh is co-director of Project Control Academy and founder of Dream Achievers Academy. With his Amazon best-selling and internationally award-winning book, Leadership Soup, Kamran is an internationally recognized leadership and success expert.
With years of experience as a project manager and subject matter expert in big oil and gas companies, and as a successful entrepreneur, Kamran believes that everyone has the potential to achieve what he or she truly wants in life. His desire for adding value to people and helping them grow and achieve their dreams and visions motivated him to establish Dream Achievers Academy and write his second book Get What You Want, which also became an award winner.
Kamran’s vision is to passionately add value to people around the world and inspire them to realize their potential and fulfill their dreams. And his mission is simply to serve.
As an inspiring and motivational speaker, seminar leader, and coach, Kamran equips his audience with profound tools, techniques, and solutions to hone their skills, increase their influence, get what they want, and achieve long-lasting success in their personal and professional lives as a result.
Kamran holds a Ph.D. in Chemical Engineering, PMP with Project Management Institute, and Distinguished Toastmaster (DTM) with Toastmasters International.
