A project is known to be a collaborative enterprise that is worked on to attain a set objective.  It is temporary, and the result may be a unique product or service. A project is associated with other attributes apart from being exceptional and temporary. The characteristics comprise of scope, resources, team, timeline, cost, and objectives. A project is usually developed using progressive amplification, using resources from different places with the involvement of a primary customer as well as sponsor and in this case, uncertainty is involved. A project is different from the daily activities just because it has specific goals being focused on with specified starting and ending timelines. Note that we can attain our goals through project management and organization (Meredith & Mantel Jr, 2011).

The triple constraint in IT is a combination of scope, time and cost management which are the most significant IT project restrictions. The restrictions mentioned above are interdependent where none of them can be changed without affecting the other constraints. For instance, an increase in the scope of the project will lead to an increase in the timeline as well as increased costs. Also, a short timeframe is likely to cause an increase in costs as well as a less ambitious scope.

Other factors affecting project management include demand, supply, and price. The need for project management depends on the type of product and its usability while the supply depends on the set timeline as well as the required resources. Price is determined and fixed by project team members who can be stakeholders and project members.

References

Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Meredith, J. R., & Mantel Jr, S. J. (2011). Project management: a managerial approach. John Wiley & Sons.

 
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