How Triple Constraint Impacts Projects - Term Paper Example

Triple Constraints Triple Constraint Introduction Project management is an art and justice can be done with this art by the project leaders who understand the relevance of the triple constraints. Triple constraints involve creating the right balance between scope, time and cost. These three aspects may not be crucial for all projects in the same manner i.e. some clients might be willing to spend more money on the project while getting the project completed at a faster rate or some clients may settle for a basic functionality project but would stress on the completion of a project within a tight budget.

It is the job of the project manager to take measures to facilitate the possible changes in these three aspects to make the project a success.2. Triple Constraint Cost, scope and time can also be referred as the following aspects; resources, quality and schedule, respectively:Scope (Quality): refers to the requirements and functionality that are discussed and thus set in the requirements phase with the client. Any changes in the scope in the later stages of the project cause a diverse effect on the project since the resources are assigned as per the needs of the discussed scope of the project.

The outcome of the project can be judged by the scope of the project.Cost (resources): The cost of the project is estimated with respect to the man-hours that will be spent on the project, number of resources that will be assigned on it and the cost of the materials that will be used in the project.Time (schedule): The total time period of any project is analyzed in the smallest detail. The components are analyzed with respect to the different tasks that might be needed to complete it and the amount of time that might be needed for those tasks.

The accumulation of the duration of the different components tasks amounts to the total time required for project completion. It is the job of the project manager to manage these triple constraints in the project so that the needs of the clients are fulfilled in the most appropriate manner. Some of these constraints might be compromised in order to deliver the other constraint. These are good measures of the success of any project since these three elements are the most vital and quantifiable aspects.

These are also good indicators for a successful project because they can fit any project of any kind. 3. Example of Triple Constraints Jessica (2008) stated an example regarding the triple constraints; some clients signed a boat contract with a boat manufacturing company. The company takes a year to make the boat but these clients want the boat to be delivered within 9 months with a budget of $100,000. The time (schedule) of the project is fixed since the clients want the boat to be delivered within 9 months; the scope and budget of the project will have to be adjusted to make the project a success.

The manager might increase the budget by hiring more resources on the project or paying the existing ones for over time. Another solution can be to provide the basic functionalities in the boat thereby reducing the scope of the project. The basic functionalities of the boat can be completed while not concentrating on the fancy options.4. Classroom Example As a stakeholder of a classroom session, the indicator for a successful class can be the participation of the students in the discussions prevailing in between the lecture.

The interactivity of the students with the instructor will indicate their level of interest in the content being presented by the instructor and their level of comprehension. The students who do not understand anything in the class tend to stay quiet and aloof with the happenings in the classroom. 5. Conclusion The art of balancing the triple constraints should be known by all the project managers since their management is necessary for the success of any project. It is very rare that all the constraints would be satisfied therefore the most required aspect of the project is communicated by the client to the project team.

The most important aspect of the project from the three constraints will be kept constant and the other two will be managed accordingly. ReferencesJessica, P. (2008), Triple Constraint in Project Management, Retrieved from http://www.pmhut.com/project-example-the-triple-constraint-in-project-management