Project Management

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how can we Limit the budget?

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Darshan Odiya Brampton, ONTARIO, Canada
How can we reduced the budget without compromising the quality?
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Kiron Bondale Retired | Mentor| Retired Welland, Ontario, Canada
Darshan -

It really depends on the project's context and success criteria. In some cases, a project might have a fixed scope which can't be reduced which would remove one option from the table - i.e. reducing scope.

Other options include:
- Altering the approach to deliver the same scope
- Using lower cost resources - materials, equipment & skilled talent
- Reducing the amount of contingency reserves

Note that all of these changes have consequences...

Kiron
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Zahra Al Balushi Program Manager| ooredoo Oman
Hello Darshan,
One of the ways to reach out to that is by prioritization (and re-prioritization). In case you are in a situation where you have a limited budget, then the focus needs to go only on the must have and obviously those items would be the ones generated the value for the project). All nice to have, and optional items can be eliminated.
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Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
The key thing here is: what is the definition of quality? Quality has to be defined at strategic level then with that on hand you can decide how to manage budged without impact on quality. For example, in most of the companies I worked on quality definition applied to product was "what exceeds user expectation and fitness for use".
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Thomas Walenta Global Project Economy Expert Hackenheim, Germany

Darshan,

quality depends on many things, some more related to cost and time, some less. The design plays a key role, stakeholder engagement/customer expectation management influences the perceptions, experience and attitudes of project team members may create high quality and, yes, how you define and measure quality. 

Anyhow, composing your team with quality-aware designers, developers, and tester will almost certain reducse cost and time of the project.



On the other hand, as a project manager, you should try to resist cost pressure. Your negotiation skills may help. 



 

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