How to deal with the time, scope and cost constraints in the project?

If you are managing a project , So you are dealing with time 、 Scope and cost constraints . Triple constraint （ Time 、 Scope and cost ） It is probably the most important concept in project management .

What are the triple constraints in project management ？
 
Triple constraint is the inherent constraint model of management project . These restrictions are threefold ：
cost ： Financial constraints of the project , Also known as project budget
Range ： Tasks required to achieve project objectives
Time ： Schedule of project completion
 
Basically , The triple constraint shows that the success of the project is affected by its cost 、 The impact of time and scope .

How triple constraints work ？
 
The project manager can increase or reduce the cost of the project through trade-offs 、 Time and scope , To keep it on schedule and below budget . Here are some examples to see how these project triangular tradeoffs work .
 
Time and scope ： If you fall behind the plan , The scope of the project can be reduced to shorten the duration of the project . In the opposite case , The length of the project schedule can be increased , In case project stakeholders propose additional project activities .
 
Cost and scope ： By narrowing the scope of the project , You will need to perform fewer tasks , This means lower costs . In the opposite case , Larger project scope means higher costs .
 
Cost and time ： In some projects , Time and cost can be directly related . for example , The cost of renting equipment or labor is proportional to the time spent using them .
 
All these scenarios apply triple constraints to manage projects , But there may be more possible tradeoffs in the project , It also involves quality 、 Risks and benefits .
 
By using the Project Management Dashboard , The manager can keep abreast of the progress of the project . The progress of the project 、 Indicators such as cost and scope are easy to track . I have this information , Project managers can identify problems and adjust triple constraints , To prevent these problems from developing into problems . Modern project management software , for example 8Manage PM, Provides a real-time dashboard , Be able to display all key project data that affect triple constraints .
 
How to manage triple constraints
 
Triple constraints look simple , But each of these three points has a deeper meaning .
 
cost
 
The financial commitment of the project depends on several variables . Resources involved , From materials to personnel , Both include costs .
 
There are also fixed and variable costs inherent in any project , Such as equipment or labor , Must be calculated . This may seriously affect the use of contract workers or outsourcing .
 
This is what the project manager did to control the cost ：
 
- Estimate the cost of all tasks within the scope of the project
- Make the project budget according to the estimated cost of the project
- Take the project budget as the cost benchmark , It is used to control costs during project implementation
- Control all project costs , Keep expenditure within the project budget
- Adjust the project budget if necessary
 
Range
 
Project scope refers to all project work required to complete the project . Managing this work is critical to the success of the project . When managing the scope , Prioritizing tasks is critical , In this way, you can effectively plan and allocate resources .
 
In order to manage the scope , Project managers need ：
- Use the scope management plan to clearly define the project activities to be completed
- Share the scope management plan with all stakeholders , Let everyone be on the same page
- Use change orders to avoid scope creep and track all changes made to the project scope
- Manage stakeholder expectations to maintain project scope
- Use task management tools and techniques to track all project activities in scope
 
These scope management actions taken by the project manager are essential , Because the time required for each task is crucial to the cost and quality of the final product . This will have a great impact on schedule and cost , Especially in the case of large-scale projects .

8Manage PM The project management software has the function of task management , Can be easily assigned 、 Sort and prioritize your tasks . In this way , You can delegate all key project tasks to the right people , So as to prevent the spread of terrible scope . Besides , By providing file sharing and task reviews , Teams can achieve task level collaboration .

Time

Basically , The project schedule is the estimated schedule assigned to complete the project or produce the final deliverables . Usually , This is calculated by first estimating the time each project task will take .

Work breakdown structure (WBS) Used to identify all project activities . Then the project manager can use different scheduling techniques , Such as critical path method or PERT Figure to determine the total duration of the project .

The following is what the project manager has done to control the progress of the project ：
- Use Gantt chart to visualize project progress 、 Define the task sequence and monitor the duration of each task
- Create for planning 、 Implement and monitor project progress policies 、 Procedures and documentation
- Use resource planning to allocate resources effectively to avoid bottlenecks
- Compare the progress benchmark with the actual progress , To determine whether the project is on schedule

Control triple constraints

When used in combination with project management software , Triple constraints are the best way to control the project and guide it to success .8Manage PM With real-time data , Enable the project manager to manage all aspects of the triple constraint .

cost ： You can 8Manage Create a budget for all resources in the system 、 Add project fees and enter hourly rates . The real-time dashboard tracks the cost and other relevant indicators in the project and reports them in real time , So that you can find out in time before the budget goes wrong .

Time ： When the task is updated , Will be immediately reflected in the whole 8Manage In the system . Your report and dashboard are accurate and up-to-date , And the schedule is synchronized with the team's tasks .

Range ：8Manage PM There are multiple project views , You can switch from Gantt chart to Kanban , To understand the workflow . The system can clearly display the load of team members , So that you can quickly and easily reassign their work , Keep the project in scope .

Triple constraints will help you manage the project . Plan the progress of the project 、 Scope and cost will help you achieve your goals .8Manage PM Etc Project management software It provides you with tools to use this model effectively .