Project Management in Real Life

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Sharing my Project Management adventures and some tips. I try to keep my articles brief and to the point. Project Management is an Art and Discipline.

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Proposals for solutions the three options way

Present your solutions with the three options approach. When you are on a budget and faced with a problem that needs to be addressed you need to look at various options to address the problem. 

1) Look at the short term cheap fix solution if it will meet your needs until a long term solution is implemented in the future. 

2) When you are uncertain when a long term fix will be implemented you need to look for a solution that has the capability of going the distance without all those bells and whistles. 

3) The long term solution with all the bells and whistles that will address all your needs into the future. 

It's all in how you present the options to management. You need to upfront commit to your first pick and hard sell it. Management will have a chance to see the three options and decide to just fork out the money to address a permanent fix or select one of the two cheaper solutions to buy time to get that permanent solution in the budget.

(Note - this article was originally written by Drake Settsu and published on DrakeSettsu.BlogSpot.com in April 2014)

Posted on: January 19, 2018 03:50 AM | Permalink | Comments (8)

Budget Creep a Project Manager's Nightmare

Going over budget within the scope of a project can happen. You think you covered all the possibilities that could occur in the project. You submitted a budget with padding so you can avoid a budget overrun. You are now at the one third milestone in the project and your funds are being depleted faster than anticipated. How did I not see this happening?

Reporting any budget variances on a monthly Project Stop Light Report will expose your budget creep. You will see how your monthly expenditures keep going up for the project. That is your cue to stop the project and revisit the budget. Are the projected estimates accurate or grossly underestimated? The faith of the project is in jeopardy now. Will the project be shutdown or will additional funds be allocated for it? A big decision needs to be made based on an accurate big picture on what the new realistic funding will be to keep the project moving.  

Project Managers need to always keep an eye on the budget and raise the red flag when the project funds are depleting ahead of time. Avoid what I call Budget Creep.

(Note - this article was originally written by Drake Settsu and published on DrakeSettsu.BlogSpot.com in September 2016)

Posted on: January 13, 2018 08:03 AM | Permalink | Comments (5)
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