September 27, 2006 7:08 am

COST – Project Management essence

Filed under: Project Management — ramsblog @ 7:08 am

I came across this post that says COST is the only thing that matters for project management. I liked his idea of coin an acronym COST; however, I think I would see this in a slightly different perspective for the same acronym. COST as he says: Cost, Organization, Schedule and Technique. 

Well, in my mind, a technique or technical aspect doesn’t matter from the project management perspective. As a Project Manager, probably what I would be concerned is whether I can get what I want within the triple constraints of estimated Budget, agreed Scope and estimated Time in a project organization..  

So COST could now be,
C = Cost / budget
O = organization
S = Scope
T = Time 

Just a thought…


1 Comment »

  1. I actually like the way you turned COST around a lot, thank you for your input.

    Comment by Jeremy Fain — September 27, 2006 11:56 am @ 11:56 am | Reply

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