3)
Describe the triple constraint. What are the three components and what is the
relationship between them.
The triple constraint contains three primary constraints that most projects will
have: Time, cost, and scope. Time means the schedule or time constraints linked
to the project. Cost includes the budget and all other financial issues related
to the project. There is not set amount of hours or dollars that describes
projects overall. Each has its own conditions. Scope relates to the goals of the
project, and the work included in reaching those goals.
Managing the triple constraint involves making trade-offs between scope, time, and cost goals for a project. For example, you might need to increase the budget for a project to meet scope and time goals. Alternatively, you might have to reduce the scope of a project meet time and cost goals. Experienced project managers know that you must decide which aspect of the triple constrain is most important.
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