The project designed for Master student of Financial Economics visiting West Coast of America is expected to be successful. Overall the project is relatively simple to manage until it comes to the financing stage. At the beginning stage, all need to be done is defined the scope of the project, such as which sites participants are planning to visit, how to connect the trip, what type of accommodation to choose and decide what is the budget. As all questions are primarily can be solved by email contacting. Participants may have to compromise something to make up the project scope and some people may leave off the project. All those beginning processes are simple to manage as none of the participants’ stake is involved.
Once the scope is defined and comes to financing stage, any delay of collecting money may push the project further ahead. If any one of them changed his or her mind to not to participate in may led to the rest of students contribute more money to meet the new budget. It is hard to make every people satisfy about the project scope and at the same time everyone within budget. Conflicts between scope and budget may occur, and eventually make the project fail.
A project of trip plan should have some flexibility. Things like miss trains, buses and got sick. Therefore, flexibility is important during the trip. Make up some backup plans before start off the trip would be helpful.
• Understand participants expectations before the trip.
• Be aware of everyone’s budget, and always stick to the budget.
• Control potential conflicts.
• Make the project some flexibility. Things out of plan may happen during the trip.