-
ks629 replied to the topic Which of the following project would you say is better and why in the forum Project Management Process and Medical Device Development 7 years ago
In project management there is a concept known as the triple constraint. The three constraints are cost, time, and scope. The idea being if you want to for example broaden the scope of the project, you would also need to increase cost or time so as not to sacrifice quality. If you wanted to shorten the timline of a project you would need to increase cost or decrease scope. When I look at the examples given above, neither is worse than the other but it depends on the priorities triple constraint held by the company who is responsible for the projects. If a company is very cost sensitive, going over budget would be worse that being behind schedule. If missing a launch date for a project will significantly impact it’s success, then we would want to add resources (cost) to make sure it meets the deadline.