Project managers often discuss the three main constraints or limitations – Ai Cost, Time, and Scope – as these are the key metrics that can be used to measure the success of a project and, in turn, the performance of the project manager. These constraints are so closely linked that any slippage in one will have an impact on the other. They are the nightmares of many a project manager.
Follow the PM Best Practices
These constraints can be managed effectively by following these project management best practices. For the management of project constraints, the core concept of the project Work Breakdown Structure (WBS), must be understood, monitored, and controlled. Let’s first understand the relationship between the three constraints and WBS.
The project’s success is determined by the accuracy of the WBS and the efficient management of the activities within it. WBS lists the scope of the project and can be used to indicate that activities not covered by the WBS are out of scope. The WBS components form the work package, which is used to calculate project cost and time.
It is essential to understand the uniqueness and limitations of each project’s WBS in order to manage them. You should create a WBS for each project. Avoid the easy path of using a template to create a WBS. The WBS must be based on past experience. This will ensure that your project roadmap is clear of any unidentified detours and potholes.
Once the scope statement has been framed, the high-level WBS must be developed. This should then be approved by business owners. This will help you estimate the project cost and time. If necessary, the scope statement should be updated and the project scope should checked. This will allow for accurate estimation and make the project execution more efficient.
It is easier to measure performance and implement controls if you focus on the individual parts of the project instead of the whole. This big-picture approach helps to keep the project on track with the three constraints, ensuring project success. This makes it easier to change scope and allows for quicker approvals or rejections.
The key point is to treat every project as an individual and then monitor the metrics to better control at the lowest WBS level. This will ensure that you are always aware of the constraints.
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