The triple constraint variables consist of Scope, Time, and Cost. They are all important components that are needed to successfully complete a project. I believe that the most important constraints for the MTC hiring system project is time.
Time is money and MTC is losing a lot of time and funds with the current manual hiring process. MTC is looking to hire new consultants in a faster and more efficient process to ensure new clients receive a professional trained consultant. The time frame that is spent in the current manual hiring process impacts scheduling, budgets and scope. (IT Project Management, n.d.) Time management is important for the new hiring system as it will ensure realistic time frames for Human Resource, hiring managers and applicants.
The project manager will have to make sure that the time frame is being followed by creating a project schedule where each task will be pinpointed on timeline. (Westland 2018).The configuration of the new system will have a major impact on the time that is being spent hiring consultants. (Implementing a SaaS Solution, n.d.) This will create a compatible system to hire consultants at a faster and efficient pace for new contracts.
Implementing a SaaS Solution. (n.d.). https://learn.umgc.edu/d2l/le/content/511943/viewContent/19161823/View
IT Project Management. (n.d.). https://learn.umgc.edu/d2l/le/content/511943/viewContent/19161824/View
Westland, J. (2018, March 22). The triple constraint in project management: Time, scope & cost. ProjectManager.com. https://www.projectmanager.com/blog/triple-constraint-project-management-time-scope-cost
Project Management – Cost – Cheryl Victor
I think the most important aspect of a project is the cost. Once the scope of the project and the time-line of the project have been established, a true cost can be determined. A change in any one of the other areas will directly affect the cost of the project, therefore making it the hardest element to manage. MTC’s CFO Evelyn Liu has expressed her concerns over the current hiring process, and how ineffective the cost of that process is. She is willing to invest in a project to develop a more cost-effective hiring system, but she wants to be sure that the total cost of ownership of any technology adopted is considered (University of Maryland Global Campus, 2019). So, the project manager and IT project manager must work together to create a plan that is both cost effective to implement, and cost effective to maintain over time, without sacrificing quality, scope, or time of the project.
I chose to talk about cost because “cost is one of the more complicated points on the Triple Constraint triangle” (“triple constraint in project management: Time, scope & cost,” 2018). The cost element addresses both fixed and variable costs of a project, and takes in consideration the financial commitment for all the resources necessary to complete a project. Project cost estimation involves several methods, including resource costs, quality analysis, and historic data. There are several cost tools available to help the project manager manage cost constraints. These tools can help to track project costs, create budgets, add expenses and input hourly rates (“triple constraint in project management: Time, scope & cost,” 2018).
For MTC, I would utilize a cost management tool that would provide a real-time dashboard, as well reporting, graphs, and charts abilities. I would manage the agreed upon plan based on SMART criteria and effective management skills. I would make the best decisions involving scope, time and quality with the project budget as my first consideration. I would make sure that if changes to the project and project budget were needed, that these changes would be communicated quickly and effectively to senior management and project stakeholders (University of Maryland Global Campus, 2020).
The triple constraint in project management: Time, scope & cost. (2018, March 22). ProjectManager.com. https://www.projectmanager.com/blog/triple-constraint-project-management-time-scope-cost
University of Maryland Global Campus. (2019, November 23). Maryland Technology Consultants case study. Document posted in UMGC IFSM 300 6380 online classroom, archived at http://campus.umgc.edu
University of Maryland Global Campus. (2020). IT project management. Document posted in UMGC IFSM 300 6380 online classroom, archived at http://campus.umgc.edu
Discussion week-7 (Time) – Sofiya Khanam
In my opinion, the most important constraint for the project of implementing an enterprise hiring system for MTC is Time. As the saying goes, ‘time is money’, a commodity that slips away too easily. Projects have a deadline date for delivery. When you reduce the project’s time, you will either have to increase its cost or reduce its scope (Haughey, 2011). I believe the time is important because the project needs to be done within a certain time frame to meet the needs of the client in this case MTC. The triple constraint theory in project management says every project operates within the boundaries of scope, time, and cost (UMGC, n.d.). A change in one factor will invariably affect the other two. Decreasing a project’s time frame means either increasing the cost of the project or decreasing the scope of the project to meet the new deadline. Increasing a project’s quality requirements will require more time and money to incorporate more perfection and test all possible outcomes for correctness. In project management, most of the people know that if they want a project done fast, it is going to cost them —especially if they are not willing to bend on the scope. That is because a short deadline requires more resources to get the work done on time.
A detailed scope document provides the perfect foundation for understanding the project’s time constraint because we can use it to build out a project estimate. One must be sure to bring their team into the discussion and look beyond task hours. The time they spend in meetings or holding a stakeholder’s hand through the process counts too. The more accurate their estimate, the better. After all, it is what they will use to schedule work and drive project decisions if tough choices need to be made to meet the project deadline. I would use a Gantt chart to maximize MTC’s chance for successful implementation and to address time in a project. A Gantt chart (a type of bar chart the illustrates a project schedule) makes it easy to build and monitor the timeline to ensure that the project finishes on schedule. Adding milestones will help to highlight important dates and deliverables, and using baselines help to compare the planned vs. actual timeline as the project progresses (LaPrad, 2018). This will help to identify any bottlenecks or impediments in the implementation so that these can be addressed in a timely manner to ensure that we achieve all the milestones as per the defined plan. It will give a visual deadline and help team members meet the time frames of the projects in each section
Haughey, D. (2011). Understanding the project management triple constraint. https://www.projectsmart.co.uk/understanding-the-project-management-triple-constraint.php
LaPrad, L. (2018). Triple constraint theory in project management. https://www.teamgantt.com/blog/triple-constraint-project-management
UMGC. (n.d.). IT Project Management. https://learn.umgc.edu/d2l/le/content/511943/viewContent/19161824/View