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PMBOK Guide®
A Guide to the Project Management
Body of Knowledge (PMBOK® Guide) -
Seventh Edition.
See Details
Home  >  Blogs  >  The Money Files  > 


HOW MUCH DOES IT COST TO CHANGE?

From the The Money Files Blog
by Elizabeth Harrin

A blog that looks at all aspects of project and program finances from budgets,
estimating and accounting to getting a pay rise and managing contracts. Written
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Categories: change management, cost, cost management, quality, stakeholders





We talk about the cost of change often on projects. If you’ve been in a delivery
role for a while, you’ll no doubt be familiar with the idea that if you find
something you want to change later on in the project, it costs more to make that
change than if you identified it at the beginning.

That’s typically because there are fewer things to unpick and less rework
required because you haven’t got as far yet. You can change the buttons on the
widget if you haven’t manufactured any buttons yet. Just change the drawings or
spec and you’re done. But if you have a factory stacked with boxes of buttons,
then there’s a bigger cost involved – all the pre-made buttons need to be
scrapped and you have to manufacturer a bunch of new ones.

Understanding how much wiggle room there is for change is important in
understanding how easy it will be to make change later, and how agile (with a
small A) you can be during the project when it comes to addressing defects or
changing your mind.

Bridge building, button making, house construction: all these are hard to change
later. But business process change, website design, or software writing probably
have a different result. You can tweak a process later on, and while a group of
different stakeholders will be affected, it is certainly possible (and cheaper)
to do in a way that changing the foundations of a building once half the
building is built is not – it’s a different kind of conversation, and a
different kind of cost involved.

How easy it is to make the change, and the cost of change, play alongside each
other throughout the project.

The PMBOK® Guide 7th Edition talks about Boehm’s cost of change curve. It sounds
like common sense, but it is also important to challenge our assumptions and
what we think we know. There is also a difference between bugs and changes that
arise through active decision making. Is the cost of change the same for each on
your project?

It might be possible to add a financial amount to each change and each defect so
as to work out the potential cost of defects or changes addressed later in the
lifecycle, but that’s probably overkill for most small and medium-sized
companies, and organisations that are not software houses with plenty of data to
analyse for this. Unless you’ve been through many product recalls or can model
what it would look like to address a component failure, you might not have the
data or time to create any meaningful cost models.

Instead, bear in mind the general principle: what is it going to mean to make a
change on your project, for your decision makers, in your environment, for the
development and delivery methodologies that you are using? Are there cutoff
points? Points of no return?

Really?

Generally, as project managers we can make anything happen with enough money,
time and resources – whether it’s the right decision to do ‘anything’ though is
a completely different conversation.

It is sensible to think about the cost of change before you need to make any
changes, and to consider how you’re going to avoid too many potentially costly
changes. For example:

 * Decent requirements
 * Good quality stakeholder engagement so everyone is on board with the
   deliverables and no stakeholders are left out (as ignored stakeholders tend
   to want to insert  their requirements on to the project later when they do
   find out about it.
 * A good change control process
 * Robust attitudes to quality deliverables, quality control and assurance.

How do you think about the cost of change in your projects? Is it a discussion
you have with the team? I’d love to know how you work to minimise it – or if you
embrace it and go with the changes! Let us know in the comments below.

Posted on: August 02, 2023 08:00 AM | Permalink




COMMENTS (2)

Please login or join to subscribe to this item

Network:69
Piotr Hajnus
, Poland

Thanks for this valuable post! I like your link to the PMBOK 7th ed. and the
real life examples.

Regarding your list of considerations, I'd really like to emphasize Expert
Judgment. It can be a gamechanger to “do it right” at the beginning or it can
mislead the whole team or waste a chance to deliver a requirement.

Recently, I’ve seen a construction project (renovation actually), where
incorrect expert judgment took away a chance to fulfill some of the customer’s
requirements. Especially few exciters were simply wasted.

Posted: Aug 3, 2023 5:49 AM

Network:3567
ISHAN THAKAR
ASSOCIATE MANAGER, MEIL, HYDROCARBONS DIVISION, HYDERABAD
VADODARA/BARODA, Gujarat/Vadodara, India

The key takeaway from Boehm's cost of change curve is that addressing changes or
issues early in the project lifecycle is much more cost-effective and less risky
than doing so later. Therefore, effective project management practices emphasize
the importance of thorough requirements gathering and early stakeholder
communication to minimize changes during the later, more expensive stages of a
project.

To manage change effectively, project managers often use change control
processes, which involve documenting and evaluating proposed changes, assessing
their impact on the project's scope, schedule, and budget, and obtaining
approval before implementing them. This helps to strike a balance between
accommodating necessary changes and minimizing their cost and disruption to the
project.

Posted: Sep 5, 2023 2:08 AM


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