Knowns include staff costs, equipment rental, and subcontractor fees. Some costs can are stated exactly, but some are more of a bit of estimate (better known as a guess). Cost ConstraintĬosting is a bit of a black art. Experience also counts as does knowledge of the work pattern of individual resources assigned to tasks. There are several ways to create a WBS, but one of the more common is to use a previous project of the same type as a template. A WBS documents the work effort for each task and rolls them up into stage and total work effort. The output of this step is a Work Breakdown Schedule (“WBS”). The process includes the creation of accurate estimates of the time needed to complete each task. Task dependencies need to be taken into account, as do task priorities. Time ConstraintĪ project is broken down into the tasks needed to complete it, and the relationship between each task. If we now look at Time, Cost and Scope in turn: 1. The project management triangle defines the basic constraints that a project operates within, namely: It is not always possible or advisable to tinker with the project scope outside formal change management processes. Scope changes will affect both time and cost. The project scope is defined in the project charter and supporting project documentation. The usual assumption is that a project is saveable or completed more quickly by throwing money at it to buy more resources. Failure can be for any number of reasons but usually follows a lack of resources or inappropriately assigned resources.Ģ. Time is generally uncontrollable, but failure to meet deadlines is not acceptable. Defined end-dates fixes the amount of time available for trade-offs. A project and its subordinate tasks will have defined end-dates. If we now look at Time, Cost and Scope in turn: There Are Three Primary Project Constraints:ġ. Unless costs reduce in other parts of the project by shortening deadlines, costs will inevitably increase. A common technique is using the rather simplistic approach of applying more resources to reduce timescales. Provide assurances that quality is maintainedĪnother approach is to redefine the three constraints as Finance, Time and HR. Assume that trade-offs are always possible. You should note that the PMT can not and does not:Ģ.
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