Introduction to Project Management and Triple

Constraints

Project management is a proper approach to planning and executing project

process using resources and man power ,that means execute project with
knowledge,skills and coordination of a people.Process of Project Management
has four stages, Initiation, Planning, Executing, Controlling , Closing.
Every project has a specific time limits and budjet.We have to do project with
proper planning and we have to execute the project with in time and limited
cost. Running all this tasks or things with in a time in limited budjet called
Project management.Every task is related with the other task. We have
different kinds of projects like short term and long term projects.
Three main constraints or triple constraints which effects or successful for
the project are
1) Time
2) Scope
3) Cost

Time:- The amount time needs to complete the project or tasks.Time is one
of the important constraint to judge the project.Every project has a specific
time period to finish that.We have different types of projects depending on
time length are short term, midterm and longterm projects.Its a non
recoverable thing.Suppose company like Microsoft or PNC bank project is
allocated to different departments with splitted into sections.We have to do
the project with in a time in a department.If we are failure to do project with
in a time that means project is failed,that effects badly on the company.

Scope:- This is one of the major constraint of the project which is initial
stage to begin the project.It is a functional element which derives the
project.If there is any change in the scope that impacts on the project.If there
is any change in the scope,its hard to reach the goal in a specific time.
Cost:- This is estimation to complete the project successfully.It includes
employees, labour ,equipment cost. We have to complete the project
successfully with in the cost. If there is any change taking place in the middle
of the project, automatically that impat on the cost of the project.For
example in a construction company we estimate the cost before the
beginning of the project.If there is any change takes place in the plan of the
building, definitely there is a change takes place in the cost. For the
successful project we have to do with in the budjet.
Impact:-