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The Project Management Book by Richard Newton

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Delivering in a cost-constrained environment

What is this about and why is it important?

There is always less money available in organisations than the total desired. Projects are often allocated less money than planning has determined is needed. Additionally, business projections and economic conditions alter, resulting in budget amendments. Project budgets are reduced after project plans based on those budgets have been committed.

These are not occasional challenges for project managers. Small and regular budget reductions are an ongoing reality for many project teams.

Objective

  • To help respond to the challenge of reducing project costs

Common issues in achieving this objective

Poor planning and estimating

Lack of innovative thinking

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