Project Management Fundamentals

What Are Project Management Fundamentals?

To manage any project successfully you must have a good handle on project management fundamentals, like Cost, Schedule, and Scope.

• Cost
• Schedule
• Scope

The Cost determines how much money will be spent to complete the work. It can serve as both a budget and a measure against work completed.

The Schedule is how much time the work will take to complete. It is broken down into deliverables, dependencies, and tasks.

The Scope is the work defined in the project that is to be completed. Regardless of project methodology, work units must be defined in a way that can be tracked. For example, a task may be defined, in progress, or completed.

The Triple Constraint

What is the Triple Constraint? Completing projects successfully always comes down to balancing the Triple Constraint of Scope, Schedule, and Cost. It is sometimes referred to as the “long pole in the tent”.

It is known as a constraint because one or more of these limits the project from being completed.

For instance, you might have the budget, but if people to complete the work are not available, the…