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Project Management-Project Monitoring and Control Process Plan

You are the project manager in charge of building a house in Ashburn, Virginia. The house is a five-bedroom home estimated to cost $1.2 million dollars and has to be completed in 24 months. Please note that 2% of the estimated cost ($1.2 million) must be set aside as contingency. Think of labor, material, and machinery activities as part of your considerations. The total cost plus contingency must not exceed the estimated cost and must not be less than $1 million. Now, Assume that your building project is two months behind and has a $100,000.00 cost overrun. This should not be a surprise to you because of the monitoring processes. Identify and discuss some of the monitoring processes that could have alerted you of the schedule and cost problems. What are some of the controlling steps you would take to bring both the schedule and the cost back on track? Be sure to justify your answers. Your Project Monitoring and Control Process Plan should be at least two pages including a summarization and conclusion page.

 

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