1. Identify and explain at least five (5) project constraints and explain the working of the triple constraint model of project management.

a. Project Management is a unique and dynamic discipline concerned with getting things right the first time by planning; and if not, create contingencies to mitigate against failure. As such, we explore the constraints of the project management process in the project life cycle. Based on our Course Resources, we learn that these competing priorities are time, cost, scope, quality, risk and resources. Greene and Stellman (2013) define a project constraint as a limitation thats placed on the project before you start doing the work. Constraints on Project Management have grown to include risk, resources and quality, which together bring about the truth of what is happening in the project.

1. Time- The Project Manager must develop and manage a schedule of activities in a way that efficiently and effectively uses project resources and completes the project in the shortest possible time. Of course, for there to be control, tasks are evaluated at set check points to ensure proper completion so that the activities can properly flow in sequence or concurrently. As the saying goes, time is money, so the project team develops a work breakdown schedule (WBS) which outlines the tasks at the various stages of the project cycle and in the order of which the tasks or activities are to be completed. The control measure is to ensure that tasks are completed at the right time and not delayed unnecessarily.

2. Cost- For the project to be viewed as successful, it is very important that it is completed within budget. However, if the client has a perceived deadline (to be first in market for example, a technology upgrade) then cost becomes secondary. In such a scenario, the Project Manager shows his flexibility by assuring that the project team develops cost estimates based on the best information available with a measure to revise the budget as new or better information becomes available.

3. Scope- The project scope defines what will be done to accomplish the project; what is the output or deliverable. The quality of the scope is measured by the ability of the project manager and project stakeholders to develop and maintain a common understanding of what products or services the project will deliver, a start date and an end date and of course, cost. This is known as the scope statement and must be signed by the stakeholders.

4. Quality- It is important that the project team understand the expectations of the stakeholders, that is, the deliverables and quality specifications. Quality is therefore, controlled by quality assurance (QA) which evaluates the overall projects performance on a regular basis to provide confidence that the project will meet expectations according to the projects best practices principle. The Project Manager must also ensure that he uses his expertise to guide stakeholders expectations as well, for example, choosing marble vs granite for a countertop in a kitchen or bathroom because marble might be cheaper. This might prove disastrous as marble is more porous and so will have chips in a shorter time if not sealed properly.

5. Risk- The risk on a project reflects the number of things that can possibly happen that will have a negative effect on the project and the probability of those events happening. Naturally, once risks are identified, plans must be put in place to manage its occurrence. This is termed risk review which is done periodically to evaluate the effectiveness of the current plan and even searches for risks not identified in earlier stages of the project already completed.

6. Resources- This includes people, equipment, funding, facilities etc required for completion of the project. Primary of this is people who control the other aspects of resources like estimating, cost tracking, planning and scheduling (process managers), as well as those who focuses on the technology of the project (functional managers).

b. The triple constraint model on project management is depicted on a diagram of an equilateral triangle with each side reflecting a constraint. These are cost/resource, schedule/time, and scope/quality of which every project operates within the boundaries of. A change in one factor will invariable affect the other two (trade-offs). Successful project management is both an art and a science and attempts to control corporate resources within the constraints of time, cost and performance. Kerzner 2011, p. 716. Our Course Readings emphasize that the constraints must always be given equal attention. Barron and Barron, page 31, references a sign in an automotive shop that states We can do good, quick and cheap workgood and quick wont be cheap, good and cheap work wont be quick and quick and cheap wont be good. Then there is The Petrobras P-36 oil platform explosions of March 2001, which resulted from corners being cut on safety in order to increase production. The ultimate result was the death of 11 people, the ship sunk, and Petrobras was left with a price tag of $155M.

The best projects have a perfectly balanced triangle, however, as projects are prone to change the Project Manager will have to balance or manage these constraints against the needs of the stakeholders as well as the project goals. The bottom line is that the triangle diagram is used to show the interdependency of each constraint. In order to achieve a perfect project result, there can be no trade-off.

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