Project Management's Enemy Number One: The Money Monster
Photo courtesy of Proof Positive Cash. Currency. Dinero. Mula. Capital. Regardless of which term you use, it's all the same thing: MONEY. It's valuable and very highly coveted. To some, it's easy to obtain, for others, it eludes them very easily. With regards to Project Management, money is a very value resource, a necessity in some cases, that is required for a project manager and his or her team to successfully complete an assigned project. It's a commonly known fact that it's rare, if not impossible, to perfectly guesstimate a budget for a project. This is usually the case for long term, large scale projects. The mistakes that project managers make when it comes to the cost estimation of the overall project varies. Sometimes, project manager can be too optimistic. Other times, the project manager may fail to account for certain aspects of a project that may involve cost. And, very frequently, known unknowns come into play and unexpectedly dep