In this solution video, Bob McGannon recommends a few ways to minimize the impact of an unexpected funding change including: procuring the components needed to make equipment usable, keeping a financial reserve to back out or deconstruct deliverables, and planning stakeholder status checks in advance of funding allocations.
- In this latest challenge, you are asked…to address an unfortunate funding situation…because of a fiscal crisis,…the government has decided to stop providing…any additional funding to your project,…postponing it indefinitely.…You find yourself in a situation…with partially assembled equipment…and a construction shell that blocks your parking lot,…and you have no funding to correct either situation.…Given this scenario, I asked you the following question.…How could you have planned your project differently…to avoid the impact of this unexpected funding change?…It's typical that longer term projects…will start without getting their entire funding allocation,…particularly in government funded projects.…
Whenever you can, you should strive to create…useful deliverables within the funding…that has been committed to your project,…so in the scenario in this challenge,…I would recommend the following.…First, I would procure all the components needed…to make the equipment usable within the available funding.…Although you may have intended to save money,…
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- Managing healthcare project stakeholders
- Dealing with regulatory constraints
- Establishing milestones
- Assessing project risks
- Executing your healthcare project