You’re managing the 987 Project, a critical initiative for your organisation. Unfortunately, with four months left to completion, you’ve discovered the project is falling behind schedule. Your team has calculated that for every day the project runs late, your organisation will lose $35,000 in potential sales.
After careful consideration and approval from management, you decide to implement a strategy to get the project back on track. This involves increasing the number of team members working on the project to accelerate the completion of remaining tasks.
Which project management technique best describes the action you’ve taken to mitigate the potential financial losses?

Question

You’re managing the 987 Project, a critical initiative for your organisation. Unfortunately, with four months left to completion, you’ve discovered the project is falling behind schedule. Your team has calculated that for every day the project runs late, your organisation will lose $35,000 in potential sales. 
 After careful consideration and approval from management, you decide to implement a strategy to get the project back on track. This involves increasing the number of team members working on the project to accelerate the completion of remaining tasks. 
 Which project management technique best describes the action you’ve taken to mitigate the potential financial losses?

Answer

Adding resources to shorten the project duration.

Answer

A systematic approach to identifying and evaluating the Schedule Performance Index.

Answer

A reliance on the expertise and insights of specialists to guide decision-making.

Answer

A method of overlapping task dependencies to expedite the overall project timeline.

Answer

A comprehensive evaluation of the costs and benefits associated with various project alternatives.

Crowdly

You’re managing the 987 Project, a critical initiative for your organisation. U...

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