It’s a tale as old as time – or at least as old as project management. The never-ending struggle to balance scope, schedule, and budget. It’s like trying to keep three plates spinning on sticks while riding a unicycle – it’s a lot to manage, but oh so rewarding when you get it right.
Scope is what you want to achieve, schedule is when you want to achieve it, and budget is how much you have to spend to make it happen. The tricky part is making sure they all work together in harmony. If you increase scope, you need to either increase your budget or adjust your schedule. If you shorten your schedule, you’ll need to either decrease scope or increase budget. If you don’t have enough money to get everything done, you’ll need to cut scope, extend your schedule, or find creative ways to do more with less.
It’s a juggling act that requires constant attention and adaptation. But if you approach it with the right mindset, you can find ways to bring these three elements into balance and create a project that delivers value, stays within budget, and is completed on time.
So how do you get there? It starts with setting clear goals, having open communication, and being flexible. Make sure everyone involved in the project understands what is and isn’t possible, and be open to making adjustments.