PM: Course 2 Flashcards
The triple constraint model: 3 components?
The triple constraint model is the combination of the three most significant restrictions of any project: scope, time, and cost.
“Time”
Time refers to the project schedule and deadlines.
“Cost”
Cost includes the budget, and it also covers resources and the people who will work on the project.
How are the tripple constraints related?
An increase in time means a change in scope or cost, or both.
Why do you need a clear understanding of the project priorities?
it’s important to consider what trade-offs you’re willing to make as the project progresses.
Best practices for managing scope?
Make sure you document everything in the beginning and share it with all of your stakeholders and team members, and make sure everybody’s in agreement on that scope.
If scope MUST change…
make sure that you can also change and potentially change your timeline, your resources, or even the budget to accommodate that scope change.
“The iron triangle” or the “project management triangle”
, the triple constraints of project management refer to the relationships between a project’s scope, time, and cost.
WBS
Work Breakdown Structure
is what’s called a project launch.
Delivering the final result of your project to the client or user
Final ? to ask
does it work well? Did it achieve your desired outcome? The real deciding factor of project success is when you put the final outcome to the test.
Landing
when you actually measure the success of your project using the success criteria established at the outset of the project.
When is a project complete
Your work on a project won’t be complete until you “land” it by thoroughly measuring the results. This is when the success criteria and the metrics you defined initially when setting SMART goals will come in handy.
