Triple Constraints in Project Management

The objectives of this project are to examine the success rates of information and communication projects undertaken by the public sector undertakings of the UK. The major objectives of the project are given below. The scope of this study is wider. Better technology in information and communication will help to improve communication speed and accuracy. Similarly, the information is made available to the people of the country very easily. Public sector undertakings have more roles in the income of the country and as such, the success and failure of the projects have great relevance to the economic perspective.
A project may be defined as a set of activities focused on a common goal. A project may be the construction of a building, the installation of new software systems in the organization, etc. A project is a combination of many complex activities. A project is a one-time activity. It has a stated objective and the project is over when that objective is accomplished. There is a specified time within which the project has to be completed and that time limit is called the deadline. A project has a definite starting time and an ending time. It is a planned effort by a group of people. The major resources of a project are men, money, machine, and material. "A project, by definition, is a temporary activity with a starting date, specific goals and conditions, defined responsibilities, a budget, a planning, a fixed end date and multiple parties involved. You know what you have to do, do it, once, and that’s the end of it." (Project definition. For all the right reasons. 2007).
Project management refers to the act of effectively carrying out a project to accomplish the objective in the specified time. Project management not only refers to accomplishing the project within the specified time but also refers to total efficiency in all the sub-activities of a project. Project management involves careful planning of the project, framing clear objectives and roles, planning the financial requirements, setting the time period, bringing together the resources and other sundry activities associated with the project. Proper management of a project will enable its completion before the deadline with minimum resource wastage. Project management is a well-organized activity that travels through different phases. The different phases or processes of project management are planning, feasibility study, project implementation, project evaluation, and project maintenance.
Planning is the first process in project management in which an outline of the project is made. Factors like necessity, purpose, deadline, resources required, etc. are decided at this stage. The efficiency of the whole project depends upon the quality of the project plan.
Feasibility study: In the next process that is the feasibility study the feasibility of the project for the organization is analyzed. This includes conducting a market survey for calculating the benefits that the organization will receive through the implementation of the project. It will also&nbsp.project the financial outlay of the project and the manpower required.