If you’ve managed projects for some time, you’ve likely heard about the triple constraint known as “the iron triangle. It refers to project management’s three most commonly used rules: time, scope and cost. There is a wide array of constraints that may affect a business plan. This is why it’s crucial to consider a broad range of possible areas of concern. It is essential to be as prepared as possible and be ready to address every issue as soon as it comes up. As well as the triple constraint; three additional risk factors bring us to six typical controls for projects to take into consideration:
- Scope
- Time
- Cost
- Quality
- Sustainability
- Customer satisfaction
The most effective way to remain on top of your project’s constraints is to employ software for managing your project. So, you can efficiently work with teammates, adhere to the budget you have set, outline your schedule, and deal with the everyday issues throughout your project.
1. Scope
This is where you decide the specific goals of your project. Remember that your final vision will depend on the budget and time available. For instance, you could imagine creating ten publications but only having time to write one. It is essential to keep your target realistic and achievable otherwise, you risk losing momentum or funds before reaching the point. It is crucial to include everyone from the beginning so they can contribute to breaking the project into smaller pieces that can be managed. When everyone works together, it will be easier to address any issue that could be expected to negatively or hinder the work.
2. Time
This is the duration needed for the project to reach the point. It is essential to set deadlines specific to each stage and the completion date. It is important to highlight areas that will likely cause issues. For instance, the firm’s new website is anticipated to take two to three months to complete. But, the Christmas shopping site must be online in three weeks to boost sales. Before taking on other tasks, you’ll have to alter the timeframe to concentrate on this job.
3. Cost
Every project is dependent on the number of funds available. If you need more than your resources, ensure that you adjust your project’s scope and duration to accommodate the limitations. Remember that the final price should include funds for material and labor, quality assurance contractors, quality control, and much more. Be sure to have extra money to cover unexpected expenses that could occur in the process. Most importantly, you must adhere to your business’s central budget. If you have funds divided among several projects in the coming year, you must alter the current budget to ensure you are not draining your finances.
4. Quality
This is over the scope of the project. It is a test to determine whether the outcome is good enough to meet the needs of the business. For example, the objective could be to design brochures showcasing your company’s offerings. If the pamphlet turns into being poorly designed, difficult to read, or the colors are dull, the endeavor is a failure.
We’ll talk about how to keep quality control later on.
5. Sustainability
It’s crucial to consider the long-term viability of your venture.
For instance, if you are designing a new site for your company, here are some questions you need to ask:
- Are future employees able to use the interface with ease?
- Do you have the ability to modify the theme to suit your business’s evolving needs?
- Does it communicate the overall message of your business?
- Does it match the trends of today?
Another example is the creation of a new product. Using the least expensive materials can result in more profits for your business. But if the product is not constructed to last, the image of your business will suffer. So, it’s crucial to consider the longevity of every single project.
6. Customer satisfaction
Before beginning an exciting new venture, think about what you believe will be able to make your customers happy. Let’s say that you’re creating an entirely new brochure or website. It is essential to think about the following issues:
- Do you find it easy to comprehend?
- Does it have cost-effectiveness?
- Draws attention to services and products?
Thinking about the customer before commencing the project will help you steer this project in the proper direction. Sometimes, there’s not a “customer” but stakeholders or those higher in the organization. Whatever the case, it is essential to think about what they hope to gain from the project to ensure that it stays on the right track.
How to overcome project limitations
If you understand some of the most common obstacles that can arise during a project, you’ll need to determine how you can stay clear of these.
1. Strategize and plan
The more you can brainstorm, plan, and then outline the details on time, the more prepared the team is to avoid common pitfalls.
These are some critical areas you should concentrate on:
- What’s needed to be done: Define the ultimate objective, and then break it down into smaller tasks. Only add additional information after the scope is approved unless you can modify the timeline and increase the budget amount.
- If each step needs to be finished: Create a stellar timeline and continue to refine it as you go along. Make sure you add buffer time in unexpected circumstances, like when a team member becomes sick.
- What resources are required: Think about everything needed to complete the project, including the hiring of contract employees, collaborating with specialists, or requesting items from distributors in other countries.
- Have a backup plan: The best-laid plans may go astray. The prototype may need to be revamped, or a vital component might get lost in the mail. We’ve experienced it all. It’s essential to sketch out a Plan B, and even a Plan C, for all the “what ifs” that could happen.
