First of all, there is money. Those in project manager careers know that without money there will be no projects, and without the projects there may very well be no company. Remember though, that this is why you are a project manager. Someone has deemed that you are experienced enough to handle both the project and the money that is associated with it. So instead of freaking out, look at your expenses and see what you can do. If anything seems to be going wrong, you need to sit down and figure things out.
Project manager jobs involve a lot of paperwork, and money is mostly just that. You will need to figure out where the money is going. Look at the funds assigned to each aspect of your project, and see where you can cut expenses. This definitely isn't going to be quick and painless, but it is what project manager careers are all about.
You might find that you and your team are using your emergency funds, but there is usually a simple explanation for this, besides the obvious. One thing to check is the actual expense of the projects. That means the actual expense, and not the money that you allotted to it. If you've only allotted a little bit of money to something that should have been considerably more expensive, then you know what you need to do.
Then you have resources, which are very important in project manager jobs. You have been picked for project manager employment because you have the ability to manage resources where others cannot. Resources can come in many shapes and sizes, whether they are employees, office supplies, or necessary equipment for the project.
You need to manage these, and make sure that everything is balanced. It will never be easy, and sometimes you might have to make hard decisions such as letting someone go or simply taking them off of the project. Though that may be difficult for you, you need to think about the survival of the project rather than your personal feelings.
Understand, and understand well that project manager jobs can be taxing. They will push you to the edge physically and mentally, forcing you to confront things that you might have avoided in the past. But don't worry, soon enough you'll be able to make those decisions without a second thought, and you'll be able to manage resources like there's nothing to it. If you have been picked for this position, it is because someone thinks that you can do it. Just remember that it all starts with confidence; if you don't think that you can do it, then there's probably a connection with that and the inevitable failure. That said, believe in yourself and you will persevere.
