What if i need more money for my project, Project Management

Assignment Help:

Q. What if I need more money?

The similar applies here as in Question 17. Though the options that are open will depend on how far the project has already advanced. In general there are two options. The first is to seek as well as obtain more project funding. The second is to decrease the scope of the project. Theoretically a third alternative is to reduce the quality of some of the components of the project. Though this isn't recommended as the impacts are usually marginal at best and at worst may lead to significantly greater costs during the subsequent life of the product.

More innovative as well as frequently very successful is to develop an alternative and more cost-effective solution to one or more of the project's objectives. There are procedures for doing this such as value analysis a technique which typically involves broad and expert consultations.


Related Discussions:- What if i need more money for my project

What are the important phases of project management, What are the important...

What are the important phases of project management? The six phases of project management: Dividing a project within phases makes this possible to lead this in the best poss

Role of ideological models in capitalist societies, Assignment must address...

Assignment must address PDF attachment showing interaction between business, society and government sectors and must reflect on Module 2 and Module 3 content which includes: Mod

Purpose of automated storage and retrieval systems, Purpose of Automated St...

Purpose of Automated Storage and Retrieval Systems The main purposes of installing ASRS are as follows: 1. Increase Storage Capacity : ASRS ordinarily  increase the  stora

Define the design phase of the project management, Define the Design phase ...

Define the Design phase of the project management. Design phase:   The list of needs which is developed within the definition phase can be utilized to make design alte

Take the company to the next stage of its growth, The Board of PCC Company,...

The Board of PCC Company, which operates in the investment and risk management industry, has explained that in order to 'take the company to the next stage of its growth' there wil

Discuss the cost of quality, Discuss the "Cost of Quality" and is ramificat...

Discuss the "Cost of Quality" and is ramifications / implications in the organization - COQ (Cost of Quality) means the financial number brought into play by project managemen

Internal factors of syringe management , Internal Factors Strengths ...

Internal Factors Strengths Strengths of the Syringe management plan are to increase people's manner to use the syringe. Secondly it would reduce the injury of needle ar

Describe key characteristics of a matrix project structure, C Consultancy C...

C Consultancy Company gives management consultancy to a range of organisations.  It employs staff who have different industry backgrounds and who also offer different specialisms,

Corporate strategy of a multi-business organisation, Strategy is developed ...

Strategy is developed at different levels in large organisations. The process starts with the corporate strategy which is then translated into the strategy for the business divisio

Define the conformance management systems, Define the conformance managemen...

Define the conformance management systems. Conformance management systems: Makes sure the output of the project for example the end product or result gathers the customer

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd