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Tip of the week


01-10-2008 04:24 pm
Planning, Quotation, Scheduling, Change

Project Management best practice indicates that you should have completed your budget and project schedules before commencing your project.

This upfront planning phase enables you to properly assess the predicted cost of your project and it’s likely duration before commencing work.

There are three variables: Cost, Time and Quality, which for every project will have a value. None of these can be changed without impacting at least one of the others.

If your project is projected to cost €250,000 to complete in 12 months, and you decide that it must be completed within 10 months, then either the cost or the quality of the work will need to be revised to facilitate the change in schedule.

Remember this as you progress through your project as it will be important to ask yourself “What impact to the project would this change have?” each time you are faced with a decision regarding a need or request to change the plan.