IT Project Management Assignment Example | Topics and Well Written Essays - 1500 words - 2

IT Project Management - Assignment Example More often than not, Variation in any of the constraints results into a corresponding variation of other constraints. In the case illustrated here, a number of aspects which help in project decision-making are illustrated based on factual information (Clifford, 2003; Vinter, 2006). The information provided for this project is as follows. From the chart, the scheduled variance and the cost variance are recorded. Taking into consideration the example outlined in fig. 3 below, a deeper understanding of the derived chart (fig. 1) is developed with respect to scheduled variance and the cost variance. The graph indicates that the project is not only behind schedule but it is also under-budgeted. The presentations are based on the earlier calculations and are a representation of the project’s technical performance i.e. the project in progress, begun faster than anticipated, but was later slowed down and fell behind its schedule. This chart illustrates the schedule performance aspect of EVM. Additionally, it is also found that the project was actually under-budgeted for in relation to the amount of work completed, since initiation of the project. Based on the calculations obtained, the project is behind schedule and also under-budgeted for. Although, the project is behind schedule, its performance is still relatively good (93.3%) and as indicated, the delay is bound to be very slight. The calculation anticipates that the project will take 12.86 months against the projected12 months, which is a relatively small delay. This is variance of only 0.86 months, which is less of a month. Despite the project schedule delay, it will be accomplished within the projected budget project ($446,429). Based on this information, there is absolutely no reason for changes to be made or additional assistance sought. The project manager may however wish to communicate