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Showing posts with label #budget. Show all posts
Showing posts with label #budget. Show all posts
January 22, 2019
The Party Invitation Guest Limit
The guest limit for a party should be made crystal clear. Most of the time you will be inviting a couple to a party so you need to make it clear on your invitation that only two people are invited. Get creative on the invitation and create two checkboxes with 1 - attending or 2 - attending. Do not let your guests control the number of people attending. The party budget and seating limitations will dictate how many guests per invitation will be allowed.
Lack of common sense happens all the time with the people you invite to parties. Avoid misunderstandings by being upfront that there is a guest limit. Remember to indicate that no children are allowed if it's an adult only type of party.
September 5, 2016
Budget Creep a Project Manager's Nightmare
Going over budget within the scope of a project can happen. You think you covered all the possibilities that could occur in the project. You submitted a budget with padding so you can avoid a budget overrun. You are now at the one third milestone in the project and your funds are being depleted faster than anticipated. How did I not see this happening?
Reporting any budget variances on a monthly Project Stop Light Report will expose your budget creep. You will see how your monthly expenditures keep going up for the project. That is your cue to stop the project and revisit the budget. Are the projected estimates accurate or grossly underestimated? The faith of the project is in jeopardy now. Will the project be shutdown or will additional funds be allocated for it? A big decision needs to be made based on an accurate big picture on what the new realistic funding will be to keep the project moving.
Project Managers need to always keep an eye on the budget and raise the red flag when the project funds are depleting ahead of time. Avoid what I call Budget Creep.
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