Discuss the below in detail:
The Project Manager's success or failure will be determined, ultimately, by the bottom-line.
Comment on the following:
1) What are the tools and ways that project managers monitor and control projects?
2) What are good methods of monitoring?
3) How important is it to monitor the costs of a project?
4) When should a project manager intervene?
For Example:
Cost variation analysis is one way a Project Manager manages by exception. If a project task is projected to cost $1000.00 but the actual cost was $1002.00, should a Project Manager be concerned? $998.00? $1100.00? $775.00?