Cheap, Fast, or Good? The Triple Constraint of Project Management
When you start planning a new project you need to consider the three main constraints that apply to almost every project management scenario: price, deadline, and scope. Each aspect negatively constrains the other two. A low-budget project can rarely command the work hours needed to complete work within a short deadline. A complex project requires a more flexible budget and schedule. It is up to you, as project manager, to determine if your project needs to be “cheap, fast, or good.”
It’s not a good idea to bluntly ask a client if they want their project “cheap, fast, or good.” Most clients will insist that you deliver on all three. While it may feel intuitive to try and perfectly balance the constraints in your project plan, it is more effective to… Continue reading...
