Question 2

Describe the triple constraint. What are the three components and what is the relationship between them.

The triple constraint is something that project managers should be mindful when beginning a project. The triple constraint are three factors that are limitations to the project at hand and their goals must be balanced. The triple constraint includes: scope, time, and cost.

Scope:
Scope is the actual amount of work done on the project. In some ways it is the ambition and size of the project and what it will return.

Time:
The amount of time the project will take. There is likely a deadline that will be attempted to achieve.

Cost:
How much money will the project cost? There is likely a budget to keep in mind.

Now the relationship between the triple constraint can often be a trade off in order to meet the goals of a project. For example if the scope of the project increases, with the addition of other features for example, then time and cost may go up. If time is a priority, then costs may go up or the scope may have to be decreased. The best way to manage the triple constraint is to keep all things in balance and still be able to keep the stock holder happy with the result of the project.