Guest Speaker: "Managing the Triple Constraint in Project Management - Time, Cost & Quality" hosted by PMI Tasmania

Introduction

This workshop focuses on the technical aspects of project management, specifically managing the triple constraint of time, cost, and quality. Participants will learn strategies and techniques to balance these constraints effectively, ensuring successful project outcomes. The workshop aligns with the PMI Talent Triangle's Ways of Working category, enhancing participants' technical skills in project management.

Learning Objectives

1)     Understand the Triple Constraint Model:

·        Define the triple constraint in project management, including time, cost, and scope (or quality).

·        Explain how these constraints are interdependent and impact each other.

2)     Apply Trade-Off Strategies:

·        Identify and apply trade-offs between time, cost, and scope/quality to manage project constraints effectively.

·        Analyze scenarios where adjustments to one constraint affect the others.

3)     Set Realistic Project Goals and Expectations:

·        Develop realistic project goals and timelines based on stakeholder input.

·        Establish clear objectives and expectations to manage scope creep and ensure project success.

4)     Manage Project Constraints:

·        Implement effective project planning and scheduling techniques to manage time and cost constraints.

·        Use tools like Work Breakdown Structure (WBS) and Gantt charts to visualize project timelines and resource allocation.

5)     Optimize Time, Cost, and Quality:

·        Employ strategies for balancing time, cost, and quality, such as agile methodologies or lean principles.

·        Discuss the importance of continuous monitoring and control throughout the project lifecycle.

6)     Analyze Past Challenges and Improve Processes:

·        Conduct post-project reviews to identify areas for improvement in managing the triple constraint.

·        Develop strategies for managing change and mitigating scope creep.

7)     Communicate Effectively with Stakeholders:

·        Explain the triple constraint model to stakeholders and clients.

·        Negotiate trade-offs and manage stakeholder expectations effectively.

Softdrinks and nibbles will be provided.

Please note that by registering to attend this event, you acknowledge and agree to abide by the following PMI provisions:

• PMI Event Code of Conduct: PMI provides a welcoming environment for all. Harassment or inappropriate behavior of any kind toward any participant will not be tolerated. All attendees must adhere to PMI’s Core Values and PMI’s Code of Conduct.

• PMI Privacy Policy: The PMI Privacy Policy is available at pmi.org/privacy

• Photography: Photographs are the sole property of PMI and PMI Tasmania Chapter. PMI and PMI Tasmania Chapter may use the likenesses for future promotional purposes.

If you have any queries or concerns, please contact PMI Tasmania Chapter at info@pmitas.org.