Imagine that you are a project manager, and your project schedule indicates that the work to be completed by a critical resource will not be finished in time to meet a predetermined release date for the resource in question. Determine your options and potential trade-offs. Support your response and rationale with real-world examples of the chosen options and trade-offs in use.
Considering project scope, project cost, and project schedule, describe one (1) type of contract for which the project manager would most likely allow cost overruns to occur, and prepare a real-world example that illustrates that type of contract.