Triple constraint

TRIPLE CONSTRAINT
SONALI TALKAR
What is Triple constraints?
All projects are carried out under certain constraints – traditionally, they are cost, time and
scope.
These three factors are represented as a triangle
Each constraint forms the vertices, with quality as the central theme:
Projects must be delivered within cost
Projects must be delivered on time
Projects must meet the agreed scope – no more, no less
Projects must also meet customer quality requirements
Quality
"On Time, On Spec, On Budget"
Time/Schedule
 Time management is the management of the time spent, and progress made, on project
tasks and activities.
 Excellent time management in project management requires the planning, scheduling,
monitoring and controlling of all project activities.
 Time is a terrible resource to waste. This is the most valuable resource in a project.
 Every delivery that you are supposed to make is time-bound. Therefore, without proper
time management, a project can head towards a disaster.
Scheduling process
Defining Activities
Sequencing Activities
Resource Estimating for Activities
Duration and Effort Estimation
Development of the Schedule
Cost
The project cost is a cost required to procure all the needed products, services and
resources to deliver the project successfully.
Cost to develop a project depends on several variables including : labor rates, material
rates, risk management, plant, equipment, and profit
Types of cost
Fixed Cost
Any Cost which is fixed throughout the project life cycle and would not change by
quantity, time or any other project factors called for a fixed cost.
Variable Cost
On the contrary to fixed cost, the Variable cost is a cost which varies or changes in
proportion to product or service that the project produces.
Direct Cost
Costs which are directly visible and accountable to produce the project output are
called direct costs.
Indirect Cost
Costs which do not directly contribute or specific to the output of the project are called indirect
costs. It may be either variable or fixed.
Sunk Cost
Sunk Costs are costs which are already spent, but failed to incur any business value and cannot
be recovered and permanently lost.
Scope
 scope is the set of boundaries that define the extent of a project.
 The scope describes what is to be delivered to the customer as a result of the project
initiative.
 scope allows the project manager and project team to understand what falls inside or
outside the boundaries of the project
 Activities that fall within the boundaries of the scope statement are considered “in
scope” and are accounted for in the schedule and budget
key processes for scope
 Define the Product Requirements
 Define the Process Requirements
 Involve the correct stakeholders
 Identify the limitations
 Change Management
How requirement can go wrong
Trade-offs
Bibliography
 Project Management theory and practice by Gary L. Richardson
 https://totally.tech.com
 https://www.projectsmart.co.uk
 https://www.tutorialspoint.com
Thank You…
SONALI TALKAR
1 von 14

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Triple constraint

  • 2. What is Triple constraints? All projects are carried out under certain constraints – traditionally, they are cost, time and scope. These three factors are represented as a triangle Each constraint forms the vertices, with quality as the central theme: Projects must be delivered within cost Projects must be delivered on time Projects must meet the agreed scope – no more, no less Projects must also meet customer quality requirements
  • 3. Quality "On Time, On Spec, On Budget"
  • 4. Time/Schedule  Time management is the management of the time spent, and progress made, on project tasks and activities.  Excellent time management in project management requires the planning, scheduling, monitoring and controlling of all project activities.  Time is a terrible resource to waste. This is the most valuable resource in a project.  Every delivery that you are supposed to make is time-bound. Therefore, without proper time management, a project can head towards a disaster.
  • 5. Scheduling process Defining Activities Sequencing Activities Resource Estimating for Activities Duration and Effort Estimation Development of the Schedule
  • 6. Cost The project cost is a cost required to procure all the needed products, services and resources to deliver the project successfully. Cost to develop a project depends on several variables including : labor rates, material rates, risk management, plant, equipment, and profit
  • 7. Types of cost Fixed Cost Any Cost which is fixed throughout the project life cycle and would not change by quantity, time or any other project factors called for a fixed cost. Variable Cost On the contrary to fixed cost, the Variable cost is a cost which varies or changes in proportion to product or service that the project produces. Direct Cost Costs which are directly visible and accountable to produce the project output are called direct costs.
  • 8. Indirect Cost Costs which do not directly contribute or specific to the output of the project are called indirect costs. It may be either variable or fixed. Sunk Cost Sunk Costs are costs which are already spent, but failed to incur any business value and cannot be recovered and permanently lost.
  • 9. Scope  scope is the set of boundaries that define the extent of a project.  The scope describes what is to be delivered to the customer as a result of the project initiative.  scope allows the project manager and project team to understand what falls inside or outside the boundaries of the project  Activities that fall within the boundaries of the scope statement are considered “in scope” and are accounted for in the schedule and budget
  • 10. key processes for scope  Define the Product Requirements  Define the Process Requirements  Involve the correct stakeholders  Identify the limitations  Change Management
  • 13. Bibliography  Project Management theory and practice by Gary L. Richardson  https://totally.tech.com  https://www.projectsmart.co.uk  https://www.tutorialspoint.com