The Three Prime Objects In Project Management And Project Management

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Importance of the Three Prime Objectives As companies gain the knowledge of project management strategies and methodologies, and how these strategies increase the success rate of projects, it is important for the companies and their project leads to understand the most valuable strategies for managing the three prime objectives or triple constraints of projects. The challenge of every project is to complete the assigned work successfully within the projects set constraints. All projects have common general objectives also known as the project triple constraints; scope, time and cost. These three factors work as a connected group. If any one of these factors is changed within the project, it will create a change in the other two. The project manager must understand how to balance the three factors to allow for the successful planning and execution of a project. These are the key factors of a successful project no matter how large or small the project is. They will determine if a project is successful. Scope During the all phases of project management it is easy to focus on only the outcome or scope of the project. The Project Management Body of Knowledge (PMBOK) defines the scope as “the sum of …show more content…

It is well documented that these three constraints are interrelated and that one factor cannot be changed without impacting the others. Project managers should completely understand these constraints, their functions and effects on projects, as it is an important piece of the project manager’s role and responsibility. The knowledge of the triple constraint should be viewed as an asset to the project manager. If these constraints are managed properly within the project, organizations will be able to deliver projects more successfully and in turn effectively exceed organizational

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