Trade off Basic Principles of PMP

How do you trade off between scope, time and cost?

Questions by diya shah

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  • Mar 8th, 2017

Most projects deal with challenges relating to one or multiple issues within the triple constraint (time/cost/scope). Sometimes stakeholders will try and add to requirements or edit them so may affect all three. Or if there is a delay from the dev side, it could cause a cost overrun. If time expectations are not met, stakeholders can lose "buy in". Its not so much managing a tradeoff but in my opinion, its an idea of communicating changes and there affect to the overall project. If a stakeholder is asking for a change, you loop in dev. If dev is challenged in some manner, you communicate with the business. Part of the communication is to articulate what impact any change will have to one or more of the constraints and bring all stakeholders to consensus before a desicion is made that impacts or changes time, cost or scope.

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