Ad
related to: project management triangle cost control
Search results
Results from the WOW.Com Content Network
The project management triangle. The project management triangle (called also the triple constraint, iron triangle and project triangle) is a model of the constraints of project management. While its origins are unclear, it has been used since at least the 1950s. [1] It contends that:
It has the ability to combine measurements of the project management triangle: scope, time, and costs. In a single integrated system , EVM is able to provide accurate forecasts of project performance problems, which is an important aspect of project management.
Quality, cost, delivery (QCD), sometimes expanded to quality, cost, delivery, morale, safety (QCDMS), [1] is a management approach originally developed by the British automotive industry. [2] QCD assess different components of the production process and provides feedback in the form of facts and figures that help managers make logical decisions.
It was introduced in the Sep/Oct 1992 issue of Project Management Journal [2] and reprinted as a chapter in the 1999 book Essentials of Project Control. [3] It was intended to lessen the emotions surrounding such a critical decision by reducing the value/cost aspects to a formula that removed sunk costs from consideration while focusing on ...
Construction management (CM) aims to control the quality of a construction project's scope, time, and cost (sometimes referred to as a project management triangle or "triple constraints") to maximize the project owner's satisfaction.
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of ...
Project accounting – Is the practice of creating financial reports specifically designed to track the financial progress of projects, which can then be used by managers to aid project management. Project Cost Management A method of managing a project in real-time from the estimating stage to project control; through the use of technology cost ...
Project control is that element of a project that keeps it on track, on time, and within budget. [41] Project control begins early in the project with planning and ends late in the project with post-implementation review, having a thorough involvement of each step in the process. Projects may be audited or reviewed while the project is in progress.
Ad
related to: project management triangle cost control