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Topics: Cost Management, Scheduling
Main challenges of Time and Cost management and how to face challenges
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Main challenges of Time and Cost management and how to face challenges
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Sorry Farzaneh, but I do not undestand if it is a question. Regards.
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It is not only time and cost but also resources and deliverables
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Hi Sergio
Thanks for your attention.
I want to know about main challenges of time and cost management both internal and external. and how we can deal with those!

For example scope creep could be challenge internally!
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1 reply by Sergio Luis Conte
Aug 03, 2018 9:30 AM
Sergio Luis Conte
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Challenges have to be discover by you because each organization is not the same and the environment is not the same. Generally speaking the main challenge is: people do not understand what cost and time management meant. Unfortunatelly inside people is the project manager too. For example, cost and time are based on estimation. Estimation depends on the available information. How much people known and understand about that? For example, take a look to Barry Bohem´s Cone of Uncertainty to have a picture on that.
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Getting everyone else to recognize a schedule exists longer than a week before the due date
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1 reply by Andrew Craig
Aug 03, 2018 7:55 AM
Andrew Craig
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:)
Nice.
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Simplified - Exposure, following the plan and recognition of state; then pivot or continue. The idea is to continually and proactively track efforts and needs against the plan and surface challenges appropriately. Inspect, Adapt, Transparency!
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Aug 03, 2018 7:40 AM
Replying to Joshua Render
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Getting everyone else to recognize a schedule exists longer than a week before the due date
:)
Nice.
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Farzaneh -

Remember that most of your constraints are connected so almost any type of risk or issue could impact cost and time baselines.

Common contributors are:
- Poor requirements management and/or scope creep
- Underestimation
- Prematurely imposed cost and schedule targets

Kiron
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To prepare a realistic baseline for time and cost !!
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Aug 03, 2018 6:02 AM
Replying to Farzaneh Naghdi
...
Hi Sergio
Thanks for your attention.
I want to know about main challenges of time and cost management both internal and external. and how we can deal with those!

For example scope creep could be challenge internally!
Challenges have to be discover by you because each organization is not the same and the environment is not the same. Generally speaking the main challenge is: people do not understand what cost and time management meant. Unfortunatelly inside people is the project manager too. For example, cost and time are based on estimation. Estimation depends on the available information. How much people known and understand about that? For example, take a look to Barry Bohem´s Cone of Uncertainty to have a picture on that.

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