Project Management Pillars, also known as Constraints, are the three main components of a project that must be managed in order to ensure successful completion. These pillars include scope, time and cost. The scope of a project is the definition of what needs to be done in order to achieve the desired outcome. It includes all activities, tasks and deliverables that need to be completed in order for the project to be successful.
The scope of a project should be clearly defined at the beginning of the project and should remain consistent throughout its duration. This will help ensure that all stakeholders understand what is expected from them and that they are working towards the same goal. It is important to note that changes to the scope should only be made if absolutely necessary and with approval from all stakeholders.
Time is another important pillar of Project Management. It refers to how long it will take for a project to be completed. Time management involves setting deadlines for each task or activity within the project and ensuring that these deadlines are met. It also involves monitoring progress against these deadlines and taking corrective action if needed.
Time management is essential for successful project completion as it ensures that tasks are completed on time and within budget. Poor time management can lead to delays, cost overruns and ultimately failure of the project. Therefore, it is important for project managers to have good time management skills in order to ensure successful completion of projects.
The third pillar of Project Management is cost. Cost refers to the amount of money required to complete a project. This includes both direct costs such as materials and labor, as well as indirect costs such as overhead expenses. Cost management involves estimating costs at the beginning of a project, tracking actual costs during execution, and controlling costs throughout the life cycle of a project.
Cost management is essential for successful completion of projects as it helps ensure that projects stay within budget. Poor cost management can lead to cost overruns which can have serious consequences for a business or organization. Therefore, it is important for project managers to have good cost management skills in order to ensure successful completion of projects.