Critique the example below and the plans and offering additional strategies that have worked well for you in your personal or professional experience (e.g., you might describe a project with similar outcomes from a work experience, or a personal experience such as planning a vacation, renovating your home, or planning a party).

In a case such as this, in which time is of the essence, I would utilize the agile project management methodology. Agile is a project management approach developed as a more flexible and efficient way to get products to market. Agile approach enables project teams to adapt faster and easier compared to other project methodologies. This approach works well because there often unknowns within the duration and completion of projects. Agile methodologies encourage project team members to make quick, smart and efficient decisions.

The four values of the Agile Methodologies are:

1. Individuals and interactions over processes and tools
2. Working software over comprehensive documentation
3. Customer collaboration over contract negotiation
4. Responding to change over following a plan

(www.wrike.com, 2020). The Agile method works continuously adapt and mature the project plan, scope, and design throughout the project. Agile has a high level of customer involvement and includes frequent reviews of progress with both the project team and the customer.

After initially finding out that there are discrepancies in the material and resource costs, I would go directly to the shareholders or sponsors of the project and see if there is not just the possibility of increasing funds for the budget. If there are no additional funds available, it is time to stop using traditional budgeting and start agile budgeting. It is difficult to predict exact budgets, and agile budgeting will allow for changes to be made, as long as there is a set time (deadline), which there is.

As a project manager on a time-sensitive project, my goal would be to successfully execute the project within the given and budget time