A new question is Tweeted every day: Follow @PMPQuestions
Compared to cumulative data, current period data is known to be prone to wide fluctuations, what is most common cause of this phenomena?
A. A lag time between when the work is accomplished and when it is reported.
B. Accounting corrections.
C. Re programming changes.
D. The placement of planned or actual costs into the wrong time periods.
Tip of the week: Maintain your social contracts
In contrast to formal contracts, social contracts are informal agreements, based on trust, mutual understandings and perceptions, between managers and subordinates. As a manager, you need to be very careful with what messages you convey to your staff - promises of a better project, higher salary, additional training and so on.
Be honest with them, treat them with respect, set realistic expectations and appreciate their work. If you deliver, you can expect higher levels of engagement, better results and trusting relationships. If not, the social contract can easily be broken. Your staff will be disengaged - doing just enough not to get fired. Once broken, repairing a ‘social contract’ is very difficult!
For more on the power of trust see: https://www.mosaicprojects.com.au/WhitePapers/WP1030_The_Value_of_Trust.pdf.