课程: Project Management Foundations: Budgets

Solution: Troubleshooting performance

课程: Project Management Foundations: Budgets

Solution: Troubleshooting performance

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(lively music) - Here's how I'd approach this challenge. I shared that the project is halfway through. However, the project is way behind schedule, and you are over budget. Here's what I would do to get the project costs under control. First, I would do research to understand where the additional costs are coming from. Am I paying more per hour for the resources allocated to the project or is it taking more effort to complete tasks? For example, you would plan for 30 hours but it's taking 40 hours of effort, or worse yet, maybe it's both. Consider internal resources instead of consultants, if applicable, to bring project costs down. As there have been issues getting the agreed resources, I would create a resource report by month and distribute it to the management team to clearly communicate when each resource is required. I would ask the management team for their recommitment to agreed resources, and if the resources are not available, then I'd negotiate to try and obtain the required resources. I would also review the project change requests to ensure all changes were put through the review and approval process. Next, I would determine if the budget items related to approved changes were applied to the budget baseline. If the baseline has not been updated, the project is not as over budget as it may appear. However, changes that may not have been captured on a project change request concern me the most. Team members may be working on activities outside of scope and they need to realize it. Remind your key stakeholders what's within scope and how to properly incorporate changes into the project. Once I get to the root cause of these issues, I would adjust and re-estimate the project budget based on current conditions.

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