Critical Path, Leading/Management and Virtual Project Teams
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1. Explain how it is possible to shorten the critical path and save money.
2. What are the differences between leading and managing a project?
3. What are unique challenges to managing a virtual project team?
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Solution Summary
The leading/management and virtual project teams are examined for critical paths. The unique challenges to managing a virtual project team is determined.
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1.) In project management, a project manager can shorten the critical path and save money. In the project management, there is an opposite relationship in between direct cost and indirect cost. This indicates that if the time of project increase, it impacts on the direct as well as indirect cost. If the time duration of project increases, the direct cost decreases and indirect cost increases. Thus, it can be said that project manager can shorten the critical path by managing time and save the money (Biafore & Stover, 2012). Another way to shorten the critical path is related to the duration of work or task on the critical path.
In order to save money, project manager can divide or break the critical task in to smaller tasks. It can be helpful for manager to do these tasks in effective and efficient manner and also helpful in saving money. If in a project, the indirect costs are greater than the additional direct costs, it is also helpful for project manager to minimize the critical path to accomplish task. The difference between these two costs in a project refers to the cost saving. A project manager can ...
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