PMAL306 Balancing Project Constraints: Maximizing Stakeholder Value: This learning activity focuses on balancing the three main project constraints to optimize stakeholder value: Scope, Time, and Cost. In addition to quality concerns, students will explore the implications of changes in project features for an ongoing project. Students will need to understand the concept of the triple constraints and how to manage them to maximize stakeholder value. The principles discussed will address the consequences of altering any of the constraints: Scope, Cost, and Project Duration. It can be a challenging decision as changing one constraint will inevitably impact the others. Furthermore, any changes may also affect the preset quality or may need to be negotiated if the other two constraints are to remain unchanged. Students will be expected to demonstrate their understanding of these concepts in their presentations during in-person classes. Consideration should be given to customer expectations and demands unless a constraint is naturally imposed by conditions beyond the stakeholders' control. This activity aims to equip students with the knowledge and skills to effectively manage project constraints in real-world.

Answer this activity question:

You have been invited to a toastmaster club to address the stakeholders on the concept of the triple constraints in a project. The employees' estate had originally planned to build 40 new housing units. Some of the key people you are going to address are having challenges understanding why the concept of triple constraints is for the project that they are promoting.

Please use this occasion to educate them on this concept. You may focus your attention on their unplanned decision to increase by a quarter the number of the initial units.

Textbook

Project Management Institute. (2023). Process groups: A practice guide. https://www.pmi.org/pmbok-guide-standards/practice-guides/process-groups-a-practice-guide

• Chapter 5.9 - 5.16