Reducing Project Duration Analysis

Critical Thinking Assignment – Reducing Project Duration The need to delay or reduce project duration occurs for many reasons such as imposed duration dates, consideration of time to market, contracts that offer incentives, limited resources, and cost (Gray & Larson, 2014). Often times, delays happen for unforeseen reason, however a project manager can do their best to prepare for delays, such as ensuring that a risk management plan is reviewed often. With many projects, when the duration changes, the cost is impacted as well, unless activities are considered out of scope. It is important to take the time upfront and consider impacts, risk, and contingency plans which will reflect back in a successful project and will lead to time savings in the end.
Project Duration
One of the things a project manager can do to reduce project duration is to decrease the project cost. This can be done by …show more content…
Therefore, we will crash G for an extra reduction of 1 day. Extra expenditure to crash G is $70. Furthermore, the calculation is shown below in figure 1 as follows: Figure 1. Summary Cost by Duration
Below figure 2, shows’ formulating this into a table to see indirect cost, total direct cost and total project cost