A detailed description of the most effective strategy for reducing a project's duration and the specific reasons supporting your choice.
The challenge for every manager in terms of reducing a project's duration is the higher direct cost that goes with it. Hence, the project manager faces a cost/time trade-off problem and asks himself if the reduction in time is worth the additional cost. These cost/time situations affect the reduction of the critical path that determines the date of the project completion.
Managers should reduce the project duration to the lowest cost point and duration. However, one should consider the sensitivity of the project network on how far to reduce the project time from the normal time toward the optimum. The existence of several critical or ...
The solution describes in detail the most effective strategy for reducing a project's duration and the reasons supporting the choice. References included.