Relation of triple constraints with strategic management & project management balanced scorecard

Running head: PROJECT TRIPLE CONSTRAINTS
PROJECT TRIPLE CONSTRAINTS
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PROJECT TRIPLE CONSTRAINTS
Relation of triple constraints with the strategic management & project management balanced
scorecard
Execution of project is a complex job to execute. Although there are various aspect of
successful project management, but it is important to consider three of the most important project
constraints, which are cost, schedule and scope, also known as triple constraints of project.
Projects are often out of scope because either objectives of the projects are not properly defined, or
even if it is designed appropriately these objective are not properly communicated to the project
team members.
In either of these cases, projects objectives and project goals are poorly defined. When
objectives and goals of the project are not proper, there is a significant chance that projects are not
consistent with project scope, which leads to scope creep. Scope is one of the significant reason for
scope constraints.
Now when strategic management incorporated into the project, it helps in managing project
scope in an effective way. There are various advantages of considering strategic management as it
develop strategic vision into the project. Along with that, it defines objective in such a way it is
consistent with project mission and vision, which is required for ensuring that execution of project
is consistent with project scope as scope of any project requires achieving project mission and
vision while adhering to project goals and objectives. Strategic management formulates and
implements strategies and along with that provides corrective measures, which ensures that it is
easier for the organization to achieve strategic goal. If execution of project is deviated from project
scope, strategic management helps to identify issues, reason behind that, and provide corrective
measure for that as well.
Hence, strategic management and managing of project constraints is closely related, as
strategic management is required to manage project constraints due to variation of project scope