Project Management Institute

A further note on monitoring and contingency allowances

complementary aspects of project control

When project managers fail to quickly detect and correct project mistakes as soon as these occur, they are allowing the project to fail, allowing the mistake to expend the project's contingency allowance and take funds and resources from other project areas, thus allowing the project to ultimately fail in achieving its objectives. This article examines project replanning as a key process--with project monitoring and contingency allowances--of controlling projects, a process that micromanages (using inch-pebbles as compared to milestones, an approach unrelated to executive micromanagement) project performance, cost, and schedule to ensure project mistakes do not consume the allotted contingency and that project work achieves the expected objectives.
member content locked

Log in or join PMI to gain access

or Join



Related Content