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How to Manage Variances and Project Costs

Words: 1701 Length: 6 Pages Document Type: Research Paper Paper #: 27563223

Introduction
During the implementation of a project, processes for project control along with record keeping come to be vital components to managers and other participants in the entire project process. Imperatively, these components provide the twofold objective of recording the financial transactions that take place in addition to handing managers a sign of the progress and the issues linked with the project. Notably, the issues of project cost control are fittingly encapsulated in a long-standing delineation of a project as any group of ambiguously associated activities that are 90 percent, over budgeted and late (Walker, 2015). The supposition is that the similar cost control approaches will not work efficaciously for all projects. Cost control does not just encompass monitoring costs and recording data but also takes into account the analysis of such data so as to undertake remedial action prior to being too late. The purpose of this paper is…… [Read More]

References
Association for Project Management. (2017). Budgeting and cost control. Retrieved from: https://www.apm.org.uk/body-of-knowledge/delivery/financial-cost-management/budgeting-and-cost-control/
Burtonshaw-Gunn, S. A. (2009). Risk and financial management in construction. Gower Publishing, Ltd..
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. Hoboken: John Wiley & Sons.
Markgraf, B. (2017). What Are Reasons for Cost Overruns in Project Management? Chron. Retrieved from: http://smallbusiness.chron.com/reasons-cost-overruns-project-management-63225.html
Reichel, C. W. (2006). Earned value management systems (EVMS): \\"you too can do earned value management\\" Paper presented at PMI® Global Congress 2006—North America, Seattle, WA. Newtown Square, PA: Project Management Institute.
Walker, A. (2015). Project management in construction. Hoboken: John Wiley & Sons.
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Identifying Key Characteristics of a High Performance Project Team

Words: 1759 Length: 6 Pages Document Type: Research Paper Paper #: 33471333

Abstract
In this article, the problems at FEL are analyzed and assessed from the standpoint of what FEL should do to assign managers to project teams and what efficiencies these criteria create. The problem is that FEL is not very thorough or cautious in its approach. Now it has a problem of the team members not wanting to work together and Gatenby is relying on Jobe to make it all work. This is unlikely to really happen and so if Gatenby cannot get them all to recognize that they are professionals and must now come together as a team in spite of their animosity, then the project is going to fail and some may not reach their personal goals. Tuckman’s five stages of group development may be helpful in solving the problem.
Keywords: Tuckman’s five, team development, working abroad
Questions for Franklin Equipment, Ltd.
Evaluate the criteria FEL uses to…… [Read More]