Projects may be audited or reviewed while the project is in progress. Formal audits are generally risk or compliance-based and management will direct the objectives of the audit.
You may see a question on this topic on your test. We always make assumptions and are bound by Project management constraints, and we always deal with them in our daily life.
For example, suppose you plan to go shopping at a big mall, which is far away from your home. It will take one hour to reach there by car.
You made the assumption that you will leave your home around 6: After that, you can enjoy shopping. This was your assumption. What about the constraints?
At first glance, you can think of two constraints. The first constraint is the amount of money to be spent on shopping. This is your first constraint.
If the mall closes at You have to wrap up everything before this time. Likewise, projects also have assumptions and constraints. It is necessary for you to understand them if you want to complete your project successfully. These parameters play an important role during the planning process.
The assumptions and constraints are an important aspect of your project. Assumptions An assumption is a belief of what you assume to be true in the future.
You make assumptions based on your knowledge, experience or the information available on hand. Assumptions are supposed to be true but do not necessarily end up being true.
Sometimes they may turn out to be false, which can affect your project significantly. They add risks to the project because they may or may not be true. Suppose in our shopping example, you assumed that it would take one hour for you to reach the destination. Your assumption is false and your plan for shopping is endangered.
This can also happen to your project. For example, you have made the assumption that some particular equipment will be made available to you whenever you need it.The three constraints of project management are cost, time, and scope.
Many people call this the Project Management Triangle, and each side of the triangle symbolizes one of the constraints. It is impossible to change one part of this .
Project limitations may influence how you manage your project and may even determine whether or not you (and your project’s drivers and supporters) decide to proceed with your project.
Project limitations typically fall into several categories. The project management plan needs to change if constraints change or assumptions are proven wrong. Constraints and assumptions need to be identified, tracked and effectively controlled during the project life cycle. If you asked any seasoned project manager about the most challenging part of project management, most likely the answer would be "managing the constraints." Or something close enough to that.
A major part of your project . Project professionals have long recognized cost, time, and scope as the constraints influencing a project's outcome. Prince2 has expanded this list to include quality, benefits, and risks.
This paper. A project constraint is a definite and inflexible limitation or restriction on a project. All constraints are tradeoffs. If you constrain budget, the project may be low quality. If you constrain time, you may face risks if the project is rushed.