Project Parameters:
Five constraints operate on every project:
- Scope
- Quality
- Cost
- Time
- Resources
These constraints are an interdependent set; a change in one can cause a change in another constraint to restore the equilibrium of the project. In this context, the set of five parameters form a system that must remain in balance for the project to be in balance.
Scope
It is a statement that defines the boundaries of the project. It tells not only what will be done but also what will not be done. In the information systems industry, scope is often referred to as a functional specification. In the engineering profession, it is generally called a statement of work. Scope may also be referred to as a document of understanding, a scoping statement, a project initiation document, and a project request form. This document is the foundation for all project work to follow. It is critical that scope be correct.
Beginning a project on the right foot is important, and so is staying on the right foot. It is no secret that scope can change. We do not know how or when, but it will change. Detecting that change and deciding how to accommodate it in the project plan are major challenges for the project manager.
Quality
Two types of quality are part of every project. The first is product quality. This refers to the quality of the deliverable from the project. The second type of quality is process quality, which is the quality of the project management process itself. The focus is on how well the project management process works and how can it be improved. Continuous quality improvement and process quality management are the tools used to measure process quality.
A sound quality management program with processes in place that monitor the work in a project is a good investment. Not only does it contribute to customer satisfaction, it helps organizations use their resources more effectively and efficiently by reducing waste and rework. This is one area that should not be compromised. The payoff is a higher probability of successfully completing the project and satisfying the customer.
Cost
The dollar cost of doing the project is another variable that defines the project. It is best thought of as the budget that has been established for the project. This is particularly important for projects that create deliverables that are sold either commercially or to an external customer.
Cost is a major consideration throughout the project management cycle. The first consideration occurs at an early and informal stage in the life of a project. The customer can simply offer a figure about equal to what he or she had in mind for the project. Depending on how much thought the customer put into it, the number could be fairly close to wide of the actual cost for the project. In more formal situations, the project manager prepares proposal for the projected work. That proposal includes an estimate (perhaps even a quote) of the total cost of the project. Even if a preliminary figure had been supplied by the project manager, the proposal allows the customer to base his or her go / no-go decision on better estimates.
Time
The customer specifies a timeframe or deadline date within which project must be completed. To a certain extent, cost and time are inversely related to one another. The time a project takes to be completed can be reduced, but cost increases as a result.
Time is an interesting resource. It can’t be inventoried. It is consumed whether we use it or not. The objective for the project manager is to use the future time allotted to the project in the most effective and productive ways possible. Future time (time that has not yet occurred) can be a resource to be traded within a project or across projects. Once a project has begun, the prime resource available to the project manager to keep the project on schedule or get it back on schedule is time. A good project manager realizes this and will protect the future time resource jealously
Resources
Resources are assets, such as people, equipment, physical facilities, or inventory that have limited availabilities, can be scheduled, or can be leased from an outside party. Some are fixed; others are variable only in the long term. In any case, they are central to the scheduling of project activities and the orderly completion of the project.
For systems development projects, people are the major resource. Another valuable resource for systems projects is the availability of computer processing time (mostly for testing purposes), which can present significant problems to the project manager when it comes to project Scheduling.