The Three Constraints of Project Management
When the procedure of project management is being used to complete a project, there are certain constraints that the team must deal with. This is something that is to be expected. The three constraints of project management are cost, time, and scope. Many people call this the Project Management Triangle, and each side of the triangle symbolizes one of the constraints.
It is impossible to change one part of this triangle without having an effect on the other sides. In this article, I will go over each of these constraints in detail. Understanding these constraints are critical for those who wish to be successful with the project management process.
As the name suggests, the time constraint deals with the time necessary to finish a project. To successfully complete a project, the time constraint should be comprised of a schedule. You should have a specific schedule related to the time that it will take you to finish the project. However, before you can create a schedule, you must first sit down and figure out a projected time frame for the project. Once you have figured out the total time it will take for a project to be completed, you must next break this down into a schedule. There should be a time frame for completing specific parts of the project, and there should be a time frame that deals with the completion of components that make up these parts.
The three constraints of project management will almost always be competing with each other. If a team decides to enlarge the scope of a project, the time will become larger as well, along with the cost. If the time constraint is tighter, the scope may be reduced, but the costs will remain high. If the team should decide to tighten the budget, the scope will become smaller but the time will increase. To become skilled in project management, the project manager and their team must be capable of dealing with these constraints in a way that will allow them to successfully complete any project that they plan.
Cost is another of the three constraints that you will want to become familiar with. The cost involved with successfully completing a project is dependent on a number of different elements, and some of these are material costs, the costs of labor, risk, and machines. The profit must also be analyzed when one is considering the cost constraint. If you are hiring a consultant who is independent, the cost of your project will be dependent on how much they charge "per diem." This cost will generally be multiplied by a calculated quantity. The cost constraint is very important, and it should never be overlooked.
The third constraint of project management is scope. Scope can be defined as the tools and resources that are needed to achieve the end objective of the team. The scope can also be defined as the goal of the overall project, what it is supposed to achieve. Perhaps one of the most important aspects of the scope is the quality of the end product or service that is produced. How much time the team puts into the project is directly connected to its quality. Some projects will require a longer period of time in order to be completed properly. Looking at the scope of the project is similar to looking at the big picture of what you are trying to accomplish.
Understanding the scope, time, and cost constraints of project management is very important for those who wish to be successful with this process. If even one of these constraints are not properly used, the project will be a complete failure. For example, if you fail to complete the project within a specific time frame, you will not be successful, even if the project is high in quality, because you didn’t finish it in the time frame specified by your client. Failing to project the proper cost of the project could cause you to either spend too much or too little on its completion, and you could end up with an inferior product or service. Failing to pay attention to the scope of your project can cause you to miss the objectives and goals entirely.