1. Your client has just informed you that your project budget has been cut by 20%, you have lost 2 project team members, and your project scope will remain the same. How do you respond to this new information? What type of project constraint(s) are you up against and what steps do you take to deal with this new information?

The concept of triple constraints in a project means that the three constraints in the project are interdependent. Therefore, changes in the budget are likely to impact the other constraints such as scope and time of completion.

Upon receiving the information about the budget cut and the reduced workforce because of the two project members leaving, my first step would be to evaluate the impact of the changes on other constraints in the project and calculate the cost of the …show more content…
(Carstens, Richardson, & Smith, 2013)

The recommendations by other stakeholders would help me understand the importance of each of the products and budget the remaining funds and allocate them to the selected project divisions based on importance. In an event that there are changes in the project, Estimate to Complete is the estimated cost that is required to complete the remaining part of the project.

2. Based on the video below, what is the difference between BAC, EAC, VAC, and ETC? In the previous discussion question, what information would you need to use these formulas to forecast a new schedule?

Budget at completion (BAC) is defined as the total initial budget allocated to a project which is plotted over time. Budget at completion is used to calculate the Estimate at Completion. Estimate at completion (EAC) is the estimated cost of the project once it is complete. (Chandramouli,