The project schedule has already been created as well as the project budget. This meet the criteria provided for by the project sponsor. However, two issues have come up. The first is a budget Cut. The client has instructed that the project costs must be reduced by 10%. The second is the loss of a Member of the Project Team. One of your team members is leaving the company immediately to take a position with another company
Milestones
General Information
Based on the project scope, the project developed should be a suitable project for the organization. It should support the processes, services, and metrics identified in the organization’s strategy. The project should also integrate the system with the company’s existing networking structure.
Issues:
Two issues have come up. The first is a budget Cut. The client has instructed that the project costs must be reduced by 10%. The second is the loss of a Member of the Project Team. One of your team members is leaving the company immediately to take a position with another company.
Project Risk Management Statement
Identify any changes in risk status to the previous report. See risk-grading key below.
Risk Grading Key:
Comments:
The risks have increased mainly due to the two issues that have come up. The 10% budget cut and the loss of a Member of the Project Team will lead to an increase in the project schedule as more time will be taken to complete the project with a reduced budget as well as working without an essential project team member. This will also lead to delays in the delivery of content and scope creep.
Revised Budget:
Below is the revised budget to take into account the suggested 10% reduction. A 10% reduction requires $ 12,629 to be reduced from the project. 113,661
- Recommendations:
The constraints framework illustrates how the project management constraints of time, cost and scope, and quality interact and change over the life of a project. The project manager's primary responsibility is to integrate all aspects of the project to manage this interaction. The three constraints are interrelated and it is impossible to change one area without affecting the others. Therefore, it is important to consider the three constraints before making any changes to the project.
