Project Constraints
Project Constraints
Constrai
nts
Introduction:
Because every project and its resources are finite, project managers
must work with (and around) their limits. One of the biggest project
manager responsibilities is managing project constraints in order to
ensure that your project gets completed on time, on budget, and
with the appropriate allocated resources.
Quality sits slightly apart from the other three project constraints
appearing inside the triangle because it is almost always affected by
any change to the other three. At the same time, changing quality
expectations will most certainly impact the project’s time, scope,
and cost.
Time.
Cost.
Be sure to estimate:
Market rates — give costs for all for goods and services you
need, as well as vendor bids and ranges.
Hourly costs — how much is your time worth? Provide clear
estimates for this.
Overall budget — consider costs from labor, material, factory,
equipment, administrative, software, contractors and more.
To do this, you should look at costs and budgets for similar past
projects inside and outside your organization.
Scope.
For example, you may list a set of deliverables that could be created
if budget and schedule allow, a wish list that your stakeholders can
choose from if there’s money and time left over after mandatory
deliverables are completed.
Risks.
When managing risks as a project constraint, you must find the zone
of risk tolerance in your organization and stakeholders, which means
determining a tolerable range of responses within appropriate limits.
For example, if a supplier fails, you will seek out another within X
price, Y delivery time, and Z quality. By establishing a zone of
tolerance, your stakeholders will be able to determine how much
risk they are willing to take on in order to reap the proposed
benefits of the project.
Benefits.
Time.
Changes in conditions.
Benefit threshold.
The key is remembering what your project constraints are, how they
impact each other, and when they indicate a change in course is
necessary.
Projects constantly change and evolve, requiring a balance of
preparation and responsiveness.
1. Initiation
2. Planning
3. Execution
4. Monitoring and Controlling
5. Closing
1. Scope
2. Time
3. Cost
4. Risk
5. Quality
6. Benefits