These measures need to be applied in a developing country. Saving Changes...
Sort By:
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
There is not about to use a method or tool. Is about to do what every project manager must do: anticipate instead or react. Prevent instead Cure as my grandmother said. To do that, things like EVM plus risk management help a lot. Saving Changes...
Eric SimmsSenior Program ManagerBaltimore, Maryland, United States
Only a skilled Project Manager can prevent cost overruns; no software or process will automatically do it.
One important thing to consider is whether the Project Manager has the authority to prevent cost overruns. I've heard stories from a number of Project Managers in developing countries, and it sounds like many of their actions are limited by people above them, so they have little opportunity to execute projects properly. Saving Changes...
Jodi QuillenSenior Project Manager| Southwest Airlines Co.Dallas, Tx, United States
There's no secret method or software to avoid or reduce cost overruns, unfortunately, but budget issues can be made less catastrophic by careful project management. Here's a couple of my lessons learned:
Cost overruns are often a result of issues that were originally unmanaged or unrecognized risk. Actively managing risk and looking for new risk throughout the project can help reduce cost overruns, or at least alert you early so you can mitigate the damage.
When possible, ensure the original budget is adequate to cover costs - many of the cost overruns I've experienced are due to optimistic estimates from others. Don't take an estimate at face value - ask questions to ensure that the requirements are thoroughly understood by the estimator.
If all else fails, look for scope that can be cut. In some cases, we've worked with stakeholders early in the project to separate the "mandatory" requirements from the "nice to haves". Knowing this information up front can help make scope cuts easier later on. Saving Changes...
