Project Management

[sodoristic]

4. You know that the project is underfunded by £1million. What actions may you consider to rectify this situation? Look to make 3 points.

[fiction-factory]

Seek more money seek some efficiency savings or go back to project sponsor to renegotiate terms/objectives. it depends though on how significant the £1 million is- if original budget was 1 billion you can absorb the shortfall, if it was 2 million you have a big chaĺlenge.
Is this coursework?

[bednobs]

"You know that the project is underfunded by £1million"
sounds like where i work!

[jno]

sounds like most things, bednobs (including me).

Short answers, raise more money or reduce/cancel your spending plans

[Zacs-Master]

1. apply for extra funding
2. re tender
3. value engineer the overall project