What is the time value of money? That is essentially the question we are trying to answer as well as what is the money value of time. Delays on your schedule can affect your critical path and cost the project money to fix. Spending more than has been allocated will affect your project budget negatively. This is a moving target all the time. Just because you are behind schedule doesn’t mean you are also over budget. In fact, many times, being behind schedule makes it look as if you are under budget because you haven’t yet paid for the work that needs to be done. Your variables will fluctuate. The goal is to keep a close eye on your baselines versus actual performance, because, trust me, your sponsor, and customers, certainly will.
I always expect some level of fluctuation and am typically very aware of what my tolerance...
