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A Team-Based Approach For Managing Projects

Note: Managing Projects: A Team-Based Approach by Karen Brown & Nancy Hyer (Textbook).

(1) How can uncertainties affect a project? What impact can an unfavorable uncertainty and a favorable uncertainty have on a project? Provide examples.

(2). Explain why it is important to plan for uncertainties and how to implement a strategy to address possible risk factors.

(3) What are the steps for a project change to be implemented once the tools have validated concerns for the project?

Solution Preview

(1) How can uncertainties affect a project? What impact can an unfavorable uncertainty and a favorable uncertainty have on a project? Provide examples.

Uncertainly can affect a project in several ways; the objectives of the project may be affected, the schedule of the project is affected, the budget of the project is affected, and the resources required for the project are affected by the uncertainty. Unfavorable uncertainly can cause non achievement of project objectives, delays in schedule, spending in excess of budget, and resources (key personnel) not being available for the project. Favorable uncertainty can impact the project when there is unexpected support from the environment for the project objectives, the project is completed before its due data, the project is completed by using less funds than the budgeted costs, and additional ...

Solution Summary

The answer to this problem explains the importance of cross-functional synergies for successful project management. The references related to the answer are also included.

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