...The Triple Constraints of Projects: Quality, Cost and Schedule The Triple Constraint The challenge of every project is to make it work and be successful within the Triple Constraint; theTriple Constraint being quality (scope), cost (resources) and schedule (time). 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 Project Manager, allows for the successful planning, resourcing and execution of a project. At the end of the day, these are the key elements of a successful project and these are the things that will determine whether or not you have successfully managed a project. More on the Triple Constraint Now, you may ask yourself, what is so important about the Triple Constraint 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: Scope/Quality The scope of a project (often called the Scope of Work) 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...
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...The Variations of the Classic Project Management Triangle The Project Management Triangle is a widely used phenomenon throughout the world in the current world, which is continuously evolving as well. The project management triangle basically comprises of Time, Cost and Scope and sometimes Quality is also included. The reason these aspects are highlighted as constraints in Project Management, because every project faces problems in all these areas. The best Project Managers are those who are able to balance out these constraints, so they can successfully complete the project. The basic idea followed by this Triangle is that, every project has a cost, a time in which it has to be completed and a set scope which is defined at the start of the project. If anyone of these aspects gets out of the control of the Project Manager, then the triangle will fall from one side. For Example, A project has reached its second milestone, and the Project Manager realizes he is behind the schedule, while the cost and scope are as planned. This means the triangle has fallen on one side. The main question that lies here is how to overcome the challenges faced in managing the triangle, by promising the constraints. These triple constraints and Quality are all very closely related to each other. The main problem for a Project Manager here is that if he concentrates on one aspect of the Triangle, it might negatively impact the other constraint as well. So, to strike a balance is not an easy...
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...Running Head: PROJECT MANAGEMENT CONSTRAINTS Project Management Constraints Student’s Name University Introduction Efficient project management has become one of the most popular tools for both private and public organizations as project handlers have sought ways to improve their operations. Project managers seek to achieve success across all sectors when handling a project. Technological advancement, new product development and streamlining of business perspectives are examples of targets set by project managers. During the inception of a project, there is the careful planning, organizing and prioritizing available resources achieving the desired outcome or the projected results in the least. At the inception stage, a project seeks to achieve the set target within minimal time while using the least amount of resources. However, every project manager faces challenges during the implementation of a project. Such challenges arise from the presence of different constraints within project management. Background of the study Even though a project manager prefers to achieve success all through, there are instances where resources allocated become minimal. Timeframe awarded to a project may also exceed leading to the scope of a project taking a new approach. Project constraints hinder project success hence the need to address each constraint. Despite the fact that project constraints are not consistent, schedule, resources and quality seem to be popularly present hindering...
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...Project Proposal Project proposals require knowledge of project management to understand various systems that make a project successful. The following project is aimed at examining the need for an intranet site and processes that implement the project into an organization. The objective is to design an intranet site that will make better use of existing resources within the company. We will provide background information and project stakeholders of the firm. An assessment of project goals, time, and budget constraints is in the report. The project performance and scope will list criterias for the project and define various exceptions for the proposal. We will also provide a summary of the beneficial advantage that the company will endure once the project is complete. Background and project proposal The Target Corporation is a retail company widely recognized for its Bullseye symbol. Target began business in the 1900s and continues to expand in the United States with corporate offices, stores, and distribution centers in various cities (Target locations, 2011). To ensure that employees, affiliates, and partners have access to current business information, a project management team will propose an intranet site that will benefit the organization and provides a unified forum. The intranet site will promote corporate culture because everyone will be able to view the same information within the intranet. Employees will benefit from this project by attaining information...
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...ASSIGNMENT 1 IT PROJECT To purchase this visit here: http://www.activitymode.com/product/cis-517-wk-2-assignment-1-it-project/ Contact us at: SUPPORT@ACTIVITYMODE.COM CIS 517 WK 2 ASSIGNMENT 1 IT PROJECT CIS 517 WK 2 Assignment 1 - IT Project Management Assessment Research and read an article on recent recipients of the Project Management Institute’s Project of the Year Award. Write a two to three (2-3) page paper in which you: 1. Summarize how the project manager or team exhibited exceptional and ethical project management practices. 2. Discuss the role of the project manager or team, the organizational setting, the recipient’s approach to project integration management, and obstacles that had the potential of adversely impacting the triple constraints. More Details hidden... Activity mode aims to provide quality study notes and tutorials to the students of CIS 517 WK 2 Assignment 1 IT Project in order to ace their studies. CIS 517 WK 2 ASSIGNMENT 1 IT PROJECT To purchase this visit here: http://www.activitymode.com/product/cis-517-wk-2-assignment-1-it-project/ Contact us at: SUPPORT@ACTIVITYMODE.COM CIS 517 WK 2 ASSIGNMENT 1 IT PROJECT CIS 517 WK 2 Assignment 1 - IT Project Management Assessment Research and read an article on recent recipients of the Project Management Institute’s Project of the Year Award. Write a two to three (2-3) page paper in which you: 1. Summarize how the project manager or team exhibited exceptional and ethical project management...
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...Version 6 Project Management Puerto Rico Campus - Guaynabo Copyright © 2009, 2008, 2006, 2004 by University of Phoenix. All rights reserved. Course Description This course examines project management roles and environments, the project life cycle, and various techniques of work planning, control, and evaluation for project success. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Kerzner, H. (2006). Project management: A systems approach to planning, scheduling, and controlling (9th ed.). Hoboken, NJ: Wiley. Meredith, J. R. & Mantel, S. J. (2006). Project management: A managerial approach (6th ed.). Hoboken, NJ: Wiley. All electronic materials are available on the student website. Microsoft® Project® 2007 (Virtual Desktop) Week One: Project Definition Details Due Points Objectives 1.1 Determine the importance of project management in the current...
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...MGT/437 Version 4 Project Management | Copyright © 2009, 2006, 2004 by University of Phoenix. All rights reserved. Course Description This course examines project management roles and environments, the project life cycle, and various techniques of work planning, control, and evaluation for project success. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Kerzner, H. (2006). Project management: A systems approach to planning, scheduling, and controlling (9th ed.). Hoboken, NJ: Wiley. Meredith, J. R. & Mantel, S. J. (2006). Project management: A managerial approach (6th ed.). Hoboken, NJ: Wiley. All electronic materials are available on the student website. Software Microsoft® Project® 2007 (Virtual Desktop) Week One: Project Definition | | Details | Due | Points | Objectives | 1.1 Determine the importance of project management in the current...
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...Organizational Project O Chapter Nineteen - Outsourcing in the 21st Century O Chapter Twenty – Developing a 21st-Century Organization 18-2 Chapter 18 Managing Organizational Projects 18-3 LEARNING OUTCOMES 1. Explain the triple constraints and its importance in project management 2. Describe the fundamentals of project management 18-4 MANAGING SOFTWARE DEVELOPMENT PROJECTS O Analysts predict investment in IT projects worldwide through 2010 will be over $1 trillion O 70 percent will be lost due to failed projects O The consequences of failed projects include: O O O O O Damaged brand Lost goodwill Dissolution of partnerships Lost investment opportunities Low morale 18-5 The Triple Constraint O Project management interdependent variables 18-6 The Triple Constraint O Benjamin Franklin’s timeless advice - by failing to prepare, you prepare to fail - applies to software development projects O The Hackett Group analyzed 2,000 companies and discovered: O Three in 10 major IT projects fail O 21 percent of the companies state that they cannot adjust rapidly to market changes O One in four validates a business case for IT projects after completion 18-7 The Triple Constraint O Common reasons why IT projects fall behind schedule or fail 18-8 PROJECT MANAGEMENT FUNDAMENTALS O Project – temporary endeavor undertaken to create a unique product, service, or result O Project management – the ...
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...IT Project Management Definition of a project: • Temporary endeavor with a beginning and an end • Creates a unique product, service or result • Is progressively elaborated-distinguishing characteristics of each unique project will be progressively detailed as the project is better understood. Remember that a project manager must come up with a project management plan that can be agreed to, that people believes is realistic, and most importantly, that they can stake their reputations on. It is time someone said this out loud: Excluding approved changes for additional work, if the project manager does not get the project completed for the time and cost they agreed to (in addition to meeting other objectives) he should be relieved of his position! Why so dramatic? Studies conduct by the Standish Group in 2004 show that only 34% of projects are successful. This means we are doing bad job of project management and things need to change. What is Project Management? Many people think project management is just managing or even worse, that one can buy some software and be a project manager. Project management is a profession which is growing extremely fast. It is both a science and an art, and follows a systematic process. The Project management Institute breaks project management into Professional and Social Responsibility, knowledge areas and process groups. Knowledge areas are Integration, Scope, Time, Cost, Quality, Human Resources...
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...THE MEANING OF PROJECT: A project is a unique venture with specific start and end dates. This is different from an ongoing task that doesn't have an end date. Projects often involve different parts of an organization. Constraints on project include cost, schedule, resources, and quality. There is a give and take between these items i.e. you can't have it all. Usually projects are divisible into stages or phases each with their own set of priorities and goals. A project is an important and carefully planned piece of work that is intended to build or produce something new, or to deal with a problem. The Project Management Institute, U.S.A. has a good definition for it. According to the Institute, a project is a one-shot, time-limited, goal-directed, major undertaking, requiring the commitment of varied skills and resources. It also describes a project as: a combination of human and non-human resources pooled together in a temporary organization to achieve a fixed set of objectives The aforementioned descriptions emphasize that a project does not mean a material body or form, rather it denotes an operation undertaken temporarily to achieve a goal-directed objective within a limited time. In contrast, the Oxford English Dictionary states that a project is "a plan, scheme or table of something; a tabulated statement; a design or pattern according to which something is made; something projected or proposed for execution; a proposal." It is, therefore correct to...
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...articulated the process and apply risk management principles of accepting the risk if the benefit outweighs the cost, making risk decisions at right levels, and not to accept unnecessary risks. These principles were adopted by the Department of the Navy in their operational risk management program in mishap reduction and prevention (Navy Safety Center, n.d.). Risk Management One key document that a program manager needs to prepare is the risk management plan. Risk management may be simply defined as the process of managing the risk to an acceptable level consistent with the project’s goal. The first step in the process is the identification of risk wherein the project manager evaluates the cause and effects of the risks associated to the project. Once the risks are identified, the project manager will need to assess the risks in relation to its probability and severity. This process will assist in the decision making in accepting the risk or responding to risks and what actions are needed to bring the risk to acceptable and manageable level. Accepting and avoiding is the most cost effective method in risk management. Mitigating and transferring normally will include cost study that will be critical in the decision making process. Controlling is the last step in risk management wherein the project manager monitors the operation to ensure effectiveness of the risk management plan against the project goals. With this, the project manager communicates with the workforce...
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...Strayer University IT Project Management Assessment Payton Ridley CIS 517 October 21, 2012 Morrow Campus Dr. 1. Summarizes how the project manager or team exhibited exceptional and ethical project management practices. Often, the project manager (PM) is faced with an issue that is not easily resolved by theory or the knowledge acquired from formal training. These types of problems are usually not of a technical nature and more often tend to be ethical or human resource issues (Stare, 2011). The satisfactory answer is often debatable and may suit one set of circumstances and yet not another. It is these difficult issues where the PM must draw from their practical experiences, moral and ethical obligations, and sometimes the rule of law. For example, international projects take the PM out of the comfort zone of the local laws and customs that they are used to working at home. In many host countries, doing business results in uncertainty and inconsistencies from the way business is conducted at home. Sometimes a practice that is permissible in the foreign country is not at home (Stare, 2011). Will making a payment to a foreign government official to obtain permits, licenses or police protection be seen as a bribe or just facilitating and expediting to get things done? That is why it is useful to have a set of guidelines. Companies should have a set of best practices or code of conduct to assist them, however, many do not. Here is a list of questions to use...
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...Task 1 – P5 Any projects are carried out under certain constraints. Traditionally, they are cost, time, and scope. The Project Management Triangle that called Triple Constraint is a model of the constraints of project management show on the corners of the triangle to show opposition. The problems that may have arisen in relation to the triple contraint :- 1. Delay in the completion date – due to unavailability of resources (either people or materials) : The project delay due to faced huge issues as steel prices rocketed and concrete supply became unpredictable. This will delay the time for completions. To restore the triple constraint is to find alternative resources by finding other suppliers and/or ensure the supply lines continued – with main contractor Civilco crucially producing the goods at a time as this will reduce the scope and it may also reduce budget. 2. Budget over-runs – due to either the requirement for additional resources to complete the project on time, or as result of additional work being required or additional costs of resources (either people or materials) : This happen when the project at 70 per cent complete, the worldwide financial crisis struck, posing the biggest challenge in the three-phase initiative. In order to make it on time, as a project manager, need to add on resources, increase the mainpower and increase budget to pay for overtime so that it can complete within the time frame. As a project manager established and gain best practice...
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...features of a project? What is the main difference between daily operations and a project? The features of a project is that it creates an exclusive product or service, has distinct start and end dates and is a brief endeavor. The main difference between daily operations and a project is that a project creates a new, unique product or service and operations creates a repetitive product or service. 2. True or False? Projects are developed in steps that progress in increments, starting with the more detailed aspects of the project and progressively moving to a high level definition of the project. True 3. Describe the triple constraint and what they are based on. When is a project considered complete? The Triple constraint is based on the scope deliverable for the project, the time schedule for the project and the cost or budget for the project. The project is considered complete when it is delivered on time, within cost constraints, and meets the scope. 4. True or False? Each progress phase demands careful planning and monitoring. True 5. Describe each project phase and its output. The first phase of the project is initiating. Initiating is the beginning of the project where you define and authorize the project, name the project manager, and define scope, deliverable, duration and resources. The outputs of the initiating phase is project charter. The second phase is planning. In the planning phase you identify the scope of the project and resource...
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...and Satisfaction Week 7 Course Project Final Draft PROJ 587 Advanced Program Management Contents 1.0 Executive Summary 4 2.0 Organization’s Strategic Plan 5 3.0 Organization’s Strategic Capacity Plan 6 3.1 Defend the Core 6 3.2 Expansion of Sales and Products 6 3.3 Balance the Portfolio 6 4.0 Portfolio Management Process 7 4.1 Portfolio Strategic Plan 7 4.2 Portfolio Charter 7 4.3 Portfolio Management Plan 7 4.4 Portfolio Roadmap 8 4.5 Portfolio 9 5.0 Project Selection Criteria 9 5.1 Project Definition 9 5.1.1 Project Categorization 9 5.1.2 Project Prioritization 9 5.1.3 Weighted Scoring Method 10 5.2 Project Acceptance 11 5.2.1 Business Criteria 11 5.2.2 Logistical Criteria 11 6.0 Program Management Plan 11 6.1 Setup of Program Management Office (PMO) 11 6.1.1 Responsibilities: 11 6.2 Phase Gate Review Team 12 7.0 Plan to Identify/Resolve Triple Constraints Conflicts 12 8.0 Change Management Plan 14 8.1 Controlling Scope Change 14 8.2 Change Control Process 15 9.0 Resource Utilization Plan 16 9.1 Network Diagram 16 9.1.1 Utilization 16 9.1.2 Background Activities 16 9.1.3 Single-Tasking and Mulit-Tasking 16 9.1.4 Cross-Training 17 9.1.5 Identify Time-Critical Activities 17 9.1.6 Schedule Based on Deliverables 17 9.2 Requirements Plan 17 10.0 Works Cited 19 1.0 Executive Summary The primary purpose and goal of this report is to explain in detail the Portfolio Management Plan for Tektronix. This document...
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