Question

Questions for Next Class, please re Chapter 3 through page 52. The following question needs to be turr in for credit. 1. What things (either internal or external) can prevent a team from meeting it's budget projections? List five things...

Answer 1

One of the major problems in a project management is to maintain actual budget equal to the targeted budget.

Many a times our costs overturn the budget. And this happens because of many factors.

1. Lack of project management experience

If the one who is leading the project is inexperienced, then it will lead to missing the deadlines and poor budget management.

2. Scope creep

Many times, clients may request more additions to the project like extra features and better quality. These require more time and workforce. If you don't charge for that, then you are cutting it out of your budget.

3. Project changes

This is related to all the changes that is made by someone which is not accounted in the budget. This changes could be because of the realisation that something was done wrong or something is not included.

4. Poor planning

If one start doing the work without a proper plan and when it leads to a disaster, they start from square one or they make changes in the Baisc structure which requires work to be redone.

5. Lack of coordination

If there is no coordination and team work, then same work could be done by two or more people. It reduces the efficiency and leads to loss.