Describe the three primary goals of project why is there a trade-off among these prime objectives
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Project managers use trade-offs during project planning and every week during the life of the project whenever they have a variance or a change request. Project Manager Skills Main Page
Here is an example of a project trade-off. The sponsor demands an earlier finish date and the project manager says, “Yes I can shorten the duration of the project by two weeks. But to do that, I will need to have two additional engineers for the month of April.” A trade-off has two sides. First, there’s the positive side where the PM shortens the duration of the project. Second, there’s the negative side where the project manager says they need two additional engineers for the month of April. Trade-offs are part of the language good project managers use. You must build the project plan with quantified measurable outcomes. And the schedule must have work estimates and accurate precedence relationships. Then you can model every change with a compensating trade off. Risk Management
When project sponsors want to make a change, successful project managers never say, “Oh no, we can’t add that to the project.” What they say is, “Certainly I can add that to the project, but I will need three more people full time.” Or the negative side of the trade-off could be, “We will have to increase the budget by $10,000” or “We’ll have to reduce the savings in our scope by $6,000.” This is the language of trade-offs. The project manager is not saying no. Instead, they are telling the sponsor or stakeholder what it will “cost” to bring about the change they want. Trade-offs maintain the feasibility of the project. Merely shortening the duration does not.
Here is an example of a project trade-off. The sponsor demands an earlier finish date and the project manager says, “Yes I can shorten the duration of the project by two weeks. But to do that, I will need to have two additional engineers for the month of April.” A trade-off has two sides. First, there’s the positive side where the PM shortens the duration of the project. Second, there’s the negative side where the project manager says they need two additional engineers for the month of April. Trade-offs are part of the language good project managers use. You must build the project plan with quantified measurable outcomes. And the schedule must have work estimates and accurate precedence relationships. Then you can model every change with a compensating trade off. Risk Management
When project sponsors want to make a change, successful project managers never say, “Oh no, we can’t add that to the project.” What they say is, “Certainly I can add that to the project, but I will need three more people full time.” Or the negative side of the trade-off could be, “We will have to increase the budget by $10,000” or “We’ll have to reduce the savings in our scope by $6,000.” This is the language of trade-offs. The project manager is not saying no. Instead, they are telling the sponsor or stakeholder what it will “cost” to bring about the change they want. Trade-offs maintain the feasibility of the project. Merely shortening the duration does not.
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