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Q. What if I need more money?
The similar applies here as in Question 17. Though the options that are open will depend on how far the project has already advanced. In general there are two options. The first is to seek as well as obtain more project funding. The second is to decrease the scope of the project. Theoretically a third alternative is to reduce the quality of some of the components of the project. Though this isn't recommended as the impacts are usually marginal at best and at worst may lead to significantly greater costs during the subsequent life of the product.
More innovative as well as frequently very successful is to develop an alternative and more cost-effective solution to one or more of the project's objectives. There are procedures for doing this such as value analysis a technique which typically involves broad and expert consultations.
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