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: The importance of scope I (S) will be 0.6, the importance of time I (T) will be 0.3, the importance of cost I (C) will be 0.1 (Total importance of constraints is 0.6+03+0.1 = 1). Now in the above example, let's say you discover that the marble used on the floor and in the bathrooms was below quality. The tradeoff that you make, since cost is of the lowest important, is to get better marble, and get more labor to replace the old marble with the new marble. Now let's look at another situation in the same example, you feel that your project is going to be late. Again, since cost is of little importance, then you add more labor to finish on time. There are some situations where you have to make more than one tradeoff in order to deliver the project that the client wants, according to his constraints. Again, in the example above, let's say that the government blocked work on your construction site because you didn't have the necessary permit (of course, no one should run into this problem, but it's just an example). To solve the problem, you pay the penalty and you pay for the necessary permit, and you add a lot of labor, but still you can't meet the schedule so you have to extend the delivery date of the tower. In this case, there are two tradeoffs to deliver the project according to the scope: time and cost.