Reference no: EM132137126

Strategies When Resources Are Constrained

A project manager has fewer options for accelerating project completion when additional resources are either not available or the budget is severely constrained. This is especially true once the schedule has been established. Below are some of these options, which are also available when resources are not constrained.

i). Fast-Tracking
Sometimes it is possible to rearrange the logic of the project network so that critical activities are done in parallel (concurrently) rather than sequentially.

ii). Critical-Chain
Critical-chain project management (CCPM) is designed to accelerate project completion. The jury is still out in terms of its applicability. Still CCPM principles appear sound and worthy of experimentation if speed is essential.

iii). Reducing Project Scope
Probably the most common response for meeting unattainable deadlines is to reduce or scale back the scope of the project. This invariably leads to a reduction in the functionality of the project. For example, the new car will average only 25 mpg instead of 30, or the software product will have fewer features than originally planned.

iv). Compromise Quality
Reducing quality is always an option, but it is rarely acceptable or used. If quality is sacrificed, it may be possible to reduce the time of an activity on the critical path.

In your role as a project manager at an IT company, you are tasked with shortening the critical path of the project and saving money. Is this possible? Choose one of the strategies outlined above, and describe how this might be possible. What would be some of the risks associated with such an approach?