NVQ L3 Business AdminWatch
'Analyse the interrelationship of project scope, schedule, finance, risk, quality and resources'
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AC1.6 Analyse the interrelationship of project scope, schedule, finance, risk, quality and resources
Scope (quality): clear, specific statement as to what has been agreed to be performed/achieved in a project; lays out functions, features, data, content; clearly expresses the desired final result of a project
Schedule: time required to complete components of a project; time required to carry out each task; duration of the project
Resources (cost): cost of a project; what and how many/much resources need to be dedicated to project; what needs to be applied or assigned to the project in terms of money and effort in order to make things happen such as resources to include manpower, materials, resources for risk management and assessment and third party resources
Triple constraint (the project management triangle): project scope/quality, resources/costs/finances and schedule/time as three aspects working together in balance; scope, schedule and cost are fully inter-related; each aspect affects another; aspects can change/fluctuate; any adjustment to any aspect must affect the other; if one is restricted/extended, others will need to be extended/increased; must be continually monitored by Project Manager