Project Management Triangle 12.1.2

• What does "scope" refer to in project management?


  the specific objectives, deliverables, tasks, and outcomes that set the boundaries of a project.
• What is a "budget" in the context of a project?

  The financial plan outlining the total resources allocated for a project, including all costs.
• What is a "timeline" in project management?


  A timeline is a schedule detailing when project tasks should be completed and milestones achieved.
• How is "quality" defined in a project?


  Quality is the degree to which a project meets its defined objectives and stakeholder expectations.
• What is the project management triangle?

  A framework that visualizes trade-offs in project management, encompassing scope, cost, and time.
• Why is the project management triangle important?


  It helps project managers ensure effective planning, execution, and delivery while maintaining quality.
• What happens if the scope of a project increases?

  Increasing scope usually leads to higher costs and longer timelines. Balancing these is crucial for success.
• How do the elements of the project management triangle influence each other?


  Each side—scope, cost, and time—directly affects the others, requiring balance to maintain quality.
• Why is managing scope important in a project?


  Careful scope management prevents scope creep, which can lead to increased costs, extended timelines, and reduced quality.
• What does cost encompass in a project?


  Cost includes all financial resources needed, such as expenses for materials, personnel, and overheads.
• Why is effective cost management critical in projects?


  It prevents budget overruns and ensures adjustments to costs do not negatively impact scope or timelines.
• How can increased costs affect project quality?


  Increased costs might improve quality, but uncontrolled spending can lead to budget overruns and other project challenges.
• How do changes in time constraints affect a project?

  Speeding up or delaying timelines may require reassessing quality standards and resource allocation to meet objectives.
• What does effective time management involve?


  It involves setting realistic deadlines and milestones to ensure project goals are met.
• What does time represent in a project?


  Time represents the schedule or time frame needed to complete tasks and achieve deliverables.
• What are the effects of increasing a project budget?


  Increased budgets can enhance quality but may lead to unrealistic expectations if not managed properly.
• What are the risks of cutting costs in a project?


  Cutting costs may require using lower-quality materials or reducing personnel, weakening project outcomes.
• What must project managers consider when changing scope?


  They must ensure adjustments do not compromise quality to satisfy stakeholders.
• What happens when the scope of a project is expanded?


  Expanding scope requires more resources, increasing costs and extending timelines, potentially affecting quality.
• What are the risks of shortening a project schedule?


  Shortening the schedule may lead to rushed work, jeopardizing quality.
• How can extending deadlines impact a project?


  Extending deadlines without changing budget or scope can refine deliverables and enhance quality and stakeholder satisfaction.
• What role does quality play in project management?


  Quality is the cornerstone of success, influenced by effective management of scope, cost, and time.
• How can project managers ensure high quality in projects?


  Striking the right balance between scope, cost, and time ensures deliverables meet or exceed expectations.
• Why is quality management important in projects?


  It helps project managers prevent issues and enhance outcomes by addressing potential problems proactively.
• How does the project management diamond differ from the triangle?


  The diamond separates scope and quality as distinct factors, with expectations or customer satisfaction at the center.
• What is typically placed at the center of the project management diamond?


  Either expectations or customer satisfaction.
• How does the project management star differ from the triangle?


  It separates scope and quality, stating scope is constrained by budget and schedule, while quality is ensured through risk and resource management.
• How is quality assured in the project management star model?


  Quality is assured by managing risks and resources effectively.
• When does Scope Creep occur?


  When new project requirements are added after the project execution has started. Often these changes are not properly reviewed.
• What is Scope Creep?

  Uncontrolled expansion of a project's scope after the project has begun
• What does it mean to refine deliverables?

  Improving project outputs to ensure they meet stakeholder expectations and project requirements