PM Earth

Project Management Time Costs

11 March 2008

Online Project Management Time Costs

The time cost of independence. Independent reviewers and auditors know less about the project, because they are not working on it. This means that the time taken for the review or audit is longer, as they need to be informed and brought up to the date of the Project Management Life Cycle. Also, in performing their work, certified auditors must work slowly and carefully to comply with the standards of their profession.

The cost of schedule delays. Independent reviews and audits take time. If project work is halted, or the beginning of a new phase is delayed, until review or audit results are in, then the entire project team may be idled – unable to work, but still receiving pay. This is made worse if there is a bottleneck in the supply of independent auditors or reviewers. And the costs are twofold: the cost of unproductive, paid work time, and the cost of lost revenue due to a later delivery date.


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