Project Management Literature Review Essay

1120 Words5 Pages
“A project is a temporary endeavor undertaken to create a unique product, service, or result” (Source: Project Management Institute, 2013).
When considering the above statement, project will end up with a unique product, service or result which can be a component of another item or an outcome item. Although there may be repetitive elements in a project there are some unique characteristics of the project work.
Temporary endeavor means that there is a start and end for each of the projects. Durations of projects are various depending upon scopes of the projects. But temporary does not mean short in duration. It simplifies that project will not last long for a long term, but the output of that project can be a lasting
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This is also referred to as the project management triangle. The triple constraints in project management are scope, cost and time. These three factors are known to be interrelated to each other. If one of the factors restricted or extended, you should do the necessary adjustments to the other two factors as well.
Recently this triangle has given way to a project management diamond where by the quality factor becomes the quadruple factor.
By understanding the Triple Constraint and the ramifications associated with adjusting any one of its components, you will be able to plan your projects better, analyze project risks and protect your company from the problems of unrealistic client expectations. By mastering the Triple Constraint, in many ways you master the project itself.

1. Scope
The scope of the project is a specific statement as to what has to be performed and what will be the end deliverable for the project. In other words, the scope clearly explains the functions, features, data, content, etc. The scope is generally identified at the upfront of the project so that it will give the best chance of success. But it also can be change during the project life cycle. There is a tenderness to fail the project if the scope of the project is either not fully defined or understood from the
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