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Main challenges of Time and Cost management and how to face challenges

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Farzaneh Naghdi Project Management Student| The University of Adelaide Adelaide, Sa, Australia
Main challenges of Time and Cost management and how to face challenges
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Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
Sorry Farzaneh, but I do not undestand if it is a question. Regards.
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Kevin Drake Perth, Western Australia, Australia
It is not only time and cost but also resources and deliverables
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Farzaneh Naghdi Project Management Student| The University of Adelaide Adelaide, Sa, Australia
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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Joshua Render Product Owner| Cognizant Harrisville, Ny, United States
Getting everyone else to recognize a schedule exists longer than a week before the due date
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1 reply by Drew Craig
Aug 03, 2018 7:55 AM
Drew Craig
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:)
Nice.
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Drew Craig Sr. Agile & Product Coach| Vanguard Philadelphia, Pa, United States
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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Drew Craig Sr. Agile & Product Coach| Vanguard Philadelphia, Pa, United States
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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Kiron Bondale Retired | Mentor| Retired Welland, Ontario, Canada
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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Alok Priyadarshi Project Manager| Tata Consulting Engineers Limited Jamshedpur, Jharkhand, India
To prepare a realistic baseline for time and cost !!
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Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
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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