Actions to take on depleted budget
The project leader should act fast and rationally when he/ she realizes that the budget allocated for the project was underestimated, underfunded or over exceeded. This is because in most cases, such a challenge can lead to a delay in delivering the results or cause a low quality product delivery. Reasons for lack of funds could be corruption among the assigned members, more expenditure than expected, lack of resource management among the project members or lack of proper coordination. Some mitigation measures such as replacements of project managers or training the project members should be undertaken. Experts in project management can be invited to offer training on how to manage funds. After aligning the project team in a good manner, it is vital to consider how to get the necessary funds. This could be in the form of talking to sponsors and delegating upwards (to the senior leaders). In the proposal, the importance of creating sufficient funds towards a successful project completion must be indicated. The document would include all facts, clear deadlines and recommendations, and allow for future reforms in the funding processes.
New Information comes to light and it affects the project scope
In case new information is availed, a leader initiates a change request as fast as possible to facilitate implementation and documentation. The team lead should indicate where the changes have been drawn from, for example, the management may have purchased equipment that functions more efficiently than the project team’s solution. As a leader, the first thing to consider is the strong points of the solution to be delivered, and why it was vital for the team to come up with the plan in the first place. The leader should create groups of people within the project team that should include project managers, Implementation and change review teams. These teams would help in facilitating information gathering and completion of change requests, provide own inputs as requested and evaluate the inputs to either allow or refuse the implementation of the submitted requests. The change review team would then escalate the process of resolving the issue to the Executive Steering Committee.
In the two situations, there was a difference between a leader’s action steps and order. In the budget issue, the leader needed to convince the sponsors that they needed the money since the project had several steps remaining to complete it. In the case of new information, the project did not need to be completed in case the evaluation drew positive conclusions about the new equipment that functioned more efficiently. The issue of funding seems to be extremely crucial since it explains the success or failure of an organization. The case of new information poses two options for the team.
Project Leadership Framework
Analysis of Project Leadership framework
Project Leadership framework refers to an aspect of project management that relates competitive nature of an organizational strategy to the contents of the project management elements. This can be applied in a new course by aligning the projects and business strategies into three distinct levels namely strategic, tactical and corrective feedback. The strategic level involves creating strategies and identifying the right projects that would help to meet one’s goals. The second level involves the process of planning and monitoring the whole project. The third level would be used to evaluate various milestones to keep up with the scope.
Project Leadership is a too vague term to research
Yes, project management is a too vague term to research. This is because different people usually have different interpretations of this term. Different people have varied ideas of what project management is in various contexts. In project management, leaders need a basic understanding of several fields and an ability to make crucial decisions that are detail- oriented. For example, different leaders may use different approaches to solve a problem since all project leaders usually keep their eyes to the finish line. Another example that explains the vagueness in this term is the fact that changes can occur during the project process leading to making of different decisions that had not been expected.