Management Essay Example | Topics and Well Written Essays - 250 words - 31

Management - Essay Example Another fact to be incognizant of are budget discrepancies. Budget discrepancies are one of the most difficult challenges to deal with when closing down a project because PMs must ensure that they close their projects without any discrepancies. Jay (2011) Understanding the segmentation of financials is hectic because it requires signatures, higher authority decisions and collaboration. In midst of the project, most managers forget that budget discrepancies in the beginning can accumulate to be problematic at the end. This not only creates chaos in the project, but diminishes quality, resources and time. Managing change request is another huge issue that project managers have to be well-aware off. This is problematic because change requests are part of any project management. In order to manage change requests, project managers must collaborate with stake holders in order to remove any unclear understanding that dictates the goals and the objectives of the project. Jay (2011) Controlling change requests for creating virtual servers or a software for instance would have to support the elements that the business case possesses can be cumbersome to manage when closing a