Title: Trade offs in project management - Project Management Questions
Headings: Trade offs in project management
Trade offs in project management
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Content: Trade offs in project management - Project Management Questions
Trade offs in project management
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I would like someone to discuss the concept of trade offs in project management. Like, for example, what is the most common trade off in any project, is it the scope? When do project managers start thinking about making trade offs? What are the factors that influence their decision in choosing a specific trade off? asked 10 years ago by anonymous
project-management
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Project trade offs means that in case one (or more than one) constraint is no longer aligned with the original project plan, then the project manager will rectify the situation by playing with the remaining constraints. The decision to make a trade off is really based on the importance of each and every constraint. For example, some projects have a fixed deadline that is impossible to change, other projects may have a tight budget that they can never exceed, while the remaining projects have a scope that should never be altered. The importance of constraints depend on the type of the organization undertaking the project, the client, and the type of project. Now in every project, the importance of scope, cost, and time, is a number from 0 to 1, where the total of the importance of all the constraints is equal to 1. Let me give you an example so you can better understand, let's say you are constructing a tower for a very wealthy customer who places quality above anything else, and he wants the tower to be finished on time.