For this discussion, you are to pretend that you're on a team project that's running behind schedule. Let's say you and your project team are three months into an eight-month project and you realize that you're already 2.5 weeks behind schedule and 15% over budget. What would you do?

Explanation:

The discussion or focus is on PROJECT MANAGEMENT.

You are on a team project that is running behind schedule. You and your project team are 3 months into an 8-month project.

There is a deficiency in both time management and money management.

For the project to be 3 months old, out of 8 months, then it's already in the execution stage.

Being behind schedule by 2.5 weeks implies that you have spent 2.5 weeks extra, achieving what you ought to achieve without or before the extra time. Discuss with your project team and make them more active in delivering their tasks. Time is crucial. Time is money also.

You're 15% over budget, hence you've spent 15% more than you should. Check the vendors of items and tools used in the project. You might have to change them if their products are too costly. Ensure proper accounting also. Do not disburse funds without the consultation and approval of team members who are finance experts.

In all, not more than 2 days or thereabout should be used in making these adjustments because time and money are equally pertinent!