Posted: April 8th, 2015

Project Risk, Quality, and Procurement Monitoring and Controlling Unit 3 Topic 1

GM594: Project Risk, Quality, and Procurement Monitoring and Controlling Unit 3 Topic 1

Order Description

Topic 1: Personal Profit
You have been engaged to manage a project. The estimated cost of the project is $1M. The project sponsor has approved this amount. Your earned value calculations indicate that the project will be completed on time and under budget by $200K. Based on this calculation, your personal profit will decrease by $2K. Given the estimated decrease in personal profit, what action should you take?

Invoice for the full $1,000,000 based on the contract.
Add tasks to improve the outcome and increase the actual project cost.
Inform the end-user that you can add features to the project in order to use the entire budget.
Communicate the projected financial outcome to the project sponsor.
From the four choices, choose one as your personal position and substantiate your position with cited reference(s). Be sure to write your initial post according to APA format using citations/examples to substantiate your position and give credit to your references at the bottom of your post. Be sure to synthesize your analysis of the reading as a conclusion and then evaluate your synthesis.

Remember that this is a discussion, so keep your responses succinct and to the point. Respond to at least three of your colleagues.

Reference: Tyler, M. (2002) PMP Prep Questions. Personal Notes.