Question: You are executing your plan for a new product development project. After reviewing your performance metrics for the week, you see that the project has

You are executing your plan for a new product development project. After reviewing your performance metrics for the week, you see that the project has exceeded the variance for the budget and the project is spending more than anticipated. What is the best way to correct this?

a)

Make a note that you are overspending your budget and that you need to continue to watch this metric closely over the next couple of months

b)

Document a Change Order to request the new additional budget requirement to deliver to the original scope and schedule

c)

You determine what adjustments need to be made to the project to try to bring your budget back in line with the plan and proceed directly to take those corrective actions

d)

Document a Change Order to reduce the scope in order to deliver to the original budget and schedule

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!