Project have been named cost-schedule and performance

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The three main aspects of a project have been named “cost, schedule, and performance.” Cost is an expression of the resources required, including materials, energy, effort, tooling, etc. Schedule is about time, allocation of resources with respect to time, and when the project needs to be complete. The final term, performance, merges all of the requirements the result of the project must satisfy (e.g. what the results can do (functional requirements) as well as the extent to which the non-functional (quality attributes) have been satisfied.) Some will use the word “scope” as in “cost, schedule, and scope.” A variation on this is the project triangle consisting of three options: good, cheap, and fast, and as a project manager, you get to “pick any two.” Explain why you can only pick two and support your answer from your own experiences and your reading.

Reference no: EM131698125

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