Project Management Triangle and Project Baseline

What is Project Management Triangle or Triple Constraint?

• The triple constraint is depicted as a triangle with cost, scope, and schedule as the sides of the triangle.
• In order to create customer satisfaction, we must perform all of the scope that was promised for the budget that we promised and deliver it when it was promised

What are the Project Baselines?

• A project has three baselines that will be used for performance and progress measurement. They are the scope baseline, the time or schedule baseline, and the cost baseline.
• The scope baseline is the sum of the deliverables of the project. It represents all the work that must be done to complete the project.
• The time baseline is the schedule of all the work that will be done to produce the scope baseline.
• The cost baseline is the budget of the project. A budget is the timephased cost of all the work in the project schedule.

Stakeholders, Deliverables and Project Life Cycle

What are deliverables?

• Deliverables are tangible, verifiable productions of the projects.
• The individual items of goods or services that are accomplished are called the project deliverables.

What is stakeholder?

• A Stakeholder is anyone who has something to gain or lose as a result of completion of this project or phase.

What is Project life cycle?

• A project life cycle is a collection of project phases.
• The project life cycle, begins with the project charter (contract) and ends when all of the deliverables of the project have been delivered. This includes closeout and cleanup of the project because these too are deliverables
• Project phases vary by project or industry, but some general phases include (1) concept, (2) development, (3) implementation, and (4) support.