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Essay / Notes on Project Management and Triple Constraints
Define the triple constraints that drive a project and give an example of each constraint within a project. A project is defined between particular constraints such as time, cost and scope, called triple constraints. .Time: The actual time required to complete the project. Time management is necessary at every stage of the project cycle, such as planning, execution and delivery of the project. There are chances that the client will request to reduce the project duration, then certainly the project cost might increase or the project scope will decrease depending on the client's needs with optimal solutions. Cost: The funds needed to complete the project. Project cost must be managed for each project as well as quality of time and other components. Cost management helps estimate costs, determine budget and control