Explain the project performance in terms of efficiency, budget and schedule. What should the project manager do for the project?
In terms of performance, the project is not cost-efficient, over budget by $72, is behind schedule 57 days, and not time efficient. The project manager should review the variances since the cost and schedule variances are negative. The negative numbers mean something is wrong or missing and/or the efforts of those involved have been incorrectly calculated. The numbers ought to be redone to get the correct answers. Thus, the project is not cost- or time efficient at this time. The project manager must come up with new project deadlines and a new budget to ensure guidelines meet properly and are in line with the project budget.