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 <title>Professional-PM Project Management - schedule</title>
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 <title>Triple Constraints of Projects: Quality, Cost &amp; Schedule</title>
 <link>http://www.professional-pm.com/tripleconstraint.htm</link>
 <description>&lt;h1&gt;
    The Triple Constraints of Projects: Quality, Cost and Schedule&lt;/h1&gt;
&lt;h2&gt;
    The Triple Constraint&lt;/h2&gt;
The challenge of every project is to make it work and be successful within 
the &lt;a href=&quot;http://www.ohsu.edu/ohsuedu/central/itg/sdlcpm/concepts.cfm&quot;&gt;Triple
Constraint&lt;/a&gt;; the &lt;b&gt;Triple Constraint&lt;/b&gt; being &lt;i&gt;quality (scope), cost (resources)
    and schedule (time)&lt;/i&gt;. These three elements of a project are known to work
in tandem with one another. Where one of these elements is restricted or extended,
the other two elements will then also need to be either extended/increased in some
way or restricted/reduced in some way. There is a balancing of the three elements
that only when fully understood by the &lt;i&gt;&lt;b&gt;Project Manager&lt;/b&gt;&lt;/i&gt;, allows for
the successful planning, resourcing and execution of a project.  At the end of the day, these are
&lt;a href=&quot;http://www.professional-pm.com/a/risk-management/key-elements-of-a-successful-project.php&quot;&gt;
   the key elements of a successful project&lt;/a&gt; and these are the things that will determine 
   whether or not you have successfully managed a project.
&lt;br&gt;
&lt;br&gt;
&lt;h2&gt;
    More on the Triple Constraint&lt;/h2&gt;
Now, you may ask yourself, 
&lt;a href=&quot;http://www.esi-intl.com/Public/publications/horizonspdfs/horizons0704.pdf#search=&#039;TRiple%20constraint%20gov&#039;&quot;&gt;what 
is so important about the Triple Constraint&lt;/a&gt; and
what does it affect in the scheme of things? Let’s look a little more closely at
the three components that make up the Triple Constraint:
&lt;br&gt;
&lt;br&gt;
&lt;b&gt;Scope/Quality&lt;/b&gt;&lt;br&gt;
The scope of a project (often called the &lt;i&gt;Scope of Work&lt;/i&gt;) is a clear, specific
statement as to what has been agreed to be preformed/achieved in a particular project.
In other words, the scope expressly lays out the functions, features, data, content,
etc. that will be included in the project at hand. You could also say that the scope
clearly expresses the desired final result of a project.
&lt;br&gt;
&lt;br&gt;
&lt;b&gt;Resources/Cost&lt;/b&gt;&lt;br&gt;
This second element of the Triple Constraint is known as either Resources or Cost.
Resources always cost money so the two are interchangeable in many ways. When we
talk about the cost of a project, we are talking about what needs to be applied
or assigned to the project in terms of &lt;i&gt;money and effort&lt;/i&gt; in order to make
things happen. This can be resources like manpower/labor, it can be materials needed
for the job, resources for risk management and assessment or any third party resources
that might need to be secured.
&lt;br&gt;
&lt;br&gt;
&lt;b&gt;Time/Schedule&lt;/b&gt;&lt;br&gt;
Time, in &lt;i&gt;project management&lt;/i&gt;, is analyzed down to its smallest detail. The
amount of time required to complete each and every component of a project is analyzed.
Once analysis has taken place, those components are broken down even further into
the time required to do each task. Obviously from all of this we are able to estimate
the duration of the project as well as what and how many/much resources need to
be dedicated to that particular project.
&lt;br&gt;
&lt;br&gt;
&lt;h2&gt;
    Prioritizing the Triple Constraint&lt;/h2&gt;
One of the first tasks a &lt;i&gt;project manager&lt;/i&gt; of a brand new project is faced
with is the prioritization of the &lt;b&gt;Triple Constraint&lt;/b&gt;. This can only be done
by communicating with the client. Whether the client understands project management
or has ever heard of the Triple Constraint, in their mind, they already know what
is most important to them. Your job, as project manager, is to find this out. This
is usually done by asking them a series of very, well-worded questions.  As you master 
the skill of balancing the Triple Constraint you will naturally begin to &lt;a href=&quot;http://www.professional-pm.com/a/project-methods-models/project-management-comes-of-age.php&quot;&gt;
   keep track of all aspects of project management&lt;/a&gt; and you will begin to understand what 
   to look out for and at what stages of a project you should 
&lt;br&gt;
&lt;br&gt;
&lt;h2&gt;
    Client Concerns and Priorities&lt;/h2&gt;
Generally, when a &lt;b&gt;client&lt;/b&gt; approaches you about a project, they are very clear
about what is important to them. In some instances the priority is the bottom line.
‘I do not want to pay over x amount of dollars, make it happen’! Other times, a
client has a launch date that they feel they can not miss under any circumstances.
In these circumstances it is very clear that the primary way that they will judge
whether a project is a success or failure will be based on whether or not you are
able to &lt;i&gt;meet the deadline&lt;/i&gt;.
&lt;br&gt;
&lt;br&gt;
&lt;h2&gt;
    Educating the Client&lt;/h2&gt;
If your client does not have a good understanding of &lt;b&gt;project management&lt;/b&gt; and
its related issues, which is often the case, you will have the task of educating
them, at least on a basic level. Clients often need to be made to realize that,
if a project is to be completed at a certain level of quality, then a certain amount
of time and money need also to be invested in the project. A project that has time
restrictions will need to increase the resources assigned to it or have the quality
or scope reduced. The well known Triple Constraint formula is &lt;i&gt;Cost * Schedule = Quality&lt;/i&gt;.
&lt;br&gt;
&lt;br&gt;
&lt;h2&gt;
    The Right Balance&lt;/h2&gt;
By &lt;i&gt;understanding the Triple Constraint&lt;/i&gt; and the ramifications associated with
adjusting any one of its components, you will be able to &lt;a href=&quot;planning.htm&quot;&gt;plan your 
projects better&lt;/a&gt;, &lt;a href=&quot;risk.htm&quot;&gt;analyze project risks&lt;/a&gt; and protect your company from
the problems of unrealistic client expectations. You will also be properly equipped
to balance out the &lt;b&gt;triple constraint&lt;/b&gt; when any adjustment has been made to
one or more of its elements. By mastering the Triple Constraint, in many ways you
master the project itself.
&lt;br&gt;
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 <category domain="http://www.professional-pm.com/project-management-glossary/cost">cost</category>
 <category domain="http://www.professional-pm.com/project-management-glossary/quality">quality</category>
 <category domain="http://www.professional-pm.com/project-management-glossary/schedule">schedule</category>
 <category domain="http://www.professional-pm.com/project-management-glossary/scope">scope</category>
 <category domain="http://www.professional-pm.com/project-management-glossary/triple-constraint">triple constraint</category>
 <pubDate>Wed, 13 Dec 2006 22:52:24 +0100</pubDate>
 <dc:creator>root</dc:creator>
 <guid isPermaLink="false">1213 at http://www.professional-pm.com</guid>
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