Reference no: EM133223912

Project management is a complex task that requires a lot of time and effort. However, it is an unavoidable part of the process.

The trade-off in project management is between the need for tight control and the need for flexibility. The more control you have, the more rigid your project will be. The more flexible you are, the less control you will have.

Project management is all about trade-offs. When you are making a decision about what to do, how to do it, or how much time and money to invest in it, you are always making a trade-off. There are three factors trade-offs in projectmanagement: cost, time, and scope. These three factors should be taken into account when deciding on what tasks will be done or not done and what resources should be allocated for the projet.

Cost refers to the amount of money that a project will cost. Time refers to how long it will take to complete the project. Scope refers to what exactly is included in the project and whether or not it's feasible.

Project managers are always making trade-offs on these variables when they create plan for their projects. They have to balance them out so that they can ensure that their project hits its deadlines and goes over budget as little as possible while still achieving its goals.