Evaluating The Remedial Measures For A Project Manager Essay

1824 WordsApr 12, 20168 Pages
Construction projects prove to be subject to budgetary pressures regardless of the condition of the economy. The purpose of this research paper is to consider and evaluate diverse remedial measures for the project manager in the circumstance of a budget reduction of up to 20 percent during each of the strategy and implementation stages. The research will offer a separate assessment and exploration of remedies of each stage. According to the findings of the research, as a project manager, it is critical to prioritize the goals of the project to adjust the project regarding the cuts on the budget through discussion with the stakeholders and sponsors. Project Management Assignment Construction projects prove to be subject to budgetary pressures regardless of the condition of the economy. During booming times, there is acceptance of a high level of risk regarding the budget adequacy because of the influence of the cost estimates as the primary tools in generating budget figures. Nevertheless, it is difficult for the project managers and planners to predict the market in the course of these times. Increased demand against the market supply tends to force prices to change regularly. In most cases, these changes cause tender prices to come at much higher in comparison to the price or budget estimates. Alternatively, if there is a downturn in the economy, budget cuts will become the norm, thus, a platform for increased risk of budget or project failure. From
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