Project Management

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Topics: Cost Management, Procurement Management, Scheduling
Cost management - Cost-Over run (Telecom Project Management)
This is the scenario: when the project is in the execution phase, you suddenly stuck with a cost overrun, and your management is screwed up for the cost overruns.

How will you manage those difficulties and kindly provide your valuable feedback in the real world project management in providing service delivery to the enterprise customer?
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I lead telecom projects were we faced cost overrun but they were justify because the market need to deliver the product before the competence. But generally speaking the problem is not to face cost overrun the problem is do not detect this in advance mainly thanks the risk monitoring and control. So, project management duty is to inform project status in advance to detect deviations and put on hands of the people that must take decisions the needed information.
Good to hear from you, Thanks Sergio Luis Conte for helping me out.
what is the nature of your telecom projects either a new product or service delivery?
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1 reply by Sergio Luis Conte
Feb 02, 2021 6:58 AM
Sergio Luis Conte
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I was the leader of the biggest program in Latin America to install the needed infrastructure to provide 4G and other services and integrate all telecom services after two great companies join together in only one. So, a mix of lot of things in one program. But I think you have to forget the type of project. I think is a matter of risk management,
Feb 02, 2021 6:50 AM
Replying to Ramcharan Kasivisvanathan
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Good to hear from you, Thanks Sergio Luis Conte for helping me out.
what is the nature of your telecom projects either a new product or service delivery?
I was the leader of the biggest program in Latin America to install the needed infrastructure to provide 4G and other services and integrate all telecom services after two great companies join together in only one. So, a mix of lot of things in one program. But I think you have to forget the type of project. I think is a matter of risk management,
Ramcharan -

If you project has experienced a cost overrun, there are two things you'll want to do:

1. Address the overrun itself by providing options to decision makers which still result in the project succeeding.

2. Identify what caused the overrun and improve your risk management practices to reduce the likelihood of this happening again later in the life of the project.

The specifics for both of the above really depend on the context of the project. As Sergio indicates, this is less about a telecom project, and more about the constraints & factors affecting the project.

Kiron

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