PM QUIZ 1 - in Project Management there exists something we...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
are related: Scope (what are we going to do?), Schedule (when will we have it done?), and Cost (how much do we have to spend?). These three constraints are tied to one another, and a change in one effects the other two. Shorten the schedule, and we either have to reduce the Scope (do less work), or increase the Cost (pay for more people to do the work) The time constraint refers to the amount of time available to complete a project. The cost constraint refers to the budgeted amount available for the project. The scope constraint refers to what must be done to produce the project's end result These three constraints are often competing constraints: increased scope typically means increased time and increased cost, a tight time constraint could mean increased costs and reduced scope, and a tight budget could mean increased time and reduced scope. The discipline of Project Management is about providing the tools and techniques that enable the project team (not just the project manager) to organize their work to meet these constraints. For example, if the cost increases, it is logical to assume that the scope and time will increase as  well. The same thing happens if the cost decreases, the scope and time will decrease too 1. SHORTEN SCHEDULE then budget will have to be increased as you may have to pay more people  to  do the work and scope will be reduced therefore quality will reduce as there is less time. REDUCE BUDGET then schedule will increase as you will need more time and you cannot pay for  as many resources and scope will have to be reduced as you cannot do all the planned work with  less money therefore quality will reduce. SCOPE INCREASED then you have to increase schedule because you cannot complete the  additional work in the same amount of time therefore budget will have to also increase to cover the  extra work and therefore quality will increase because you have more money. 2
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/03/2010 for the course PM PM586 taught by Professor Elliot during the Spring '10 term at DeVry Schaumburg.

Page1 / 4

PM QUIZ 1 - in Project Management there exists something we...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online