You have been assigned to analyze the project plan of a payroll system that is behind schedule and over budget. The project was supposed to be completed in one year, but now it is running about three months behind schedule and 25 percent over budget. It is expected that the project may continue to fall further behind schedule and over budget. Your superior wants to know if the project can be saved.
Recommend a series of actions to save the project, and identify the risks in taking such an approach.
Full Answer Section
- Monitor the progress of the project. It is important to monitor the progress of the project on a regular basis. This will help to identify any potential problems early on and to take corrective action as needed.
- Be prepared to make changes. The plan may need to be adjusted as the project progresses. This is especially true if unforeseen challenges arise. It is important to be flexible and to be willing to make changes as needed.
Here are some of the risks associated with taking this approach:
- The project may not be able to be saved.
- The project may be further delayed and over budget.
- The quality of the project may be compromised.
- The team may become demoralized.
It is important to weigh the risks and benefits of taking this approach before making a decision. However, if the project is important to the organization, then it may be worth taking the risk.
Here are some additional tips for saving the project:
- Be transparent with stakeholders. Keep stakeholders updated on the status of the project and the risks involved.
- Be flexible and willing to compromise. Be willing to make changes to the project plan as needed.
- Empower the team. Give the team the authority to make decisions and take action.
- Celebrate successes. Take the time to celebrate the team's successes, no matter how small.
By following these tips, you can increase the chances of saving the payroll system project.