What are key parameters in any project management?

Scope of work

Framework

Timelines

Project Management Parameters are certain characteristics and features that can define a project or its aspects.

These parameters (project characteristics) can be expressed in different ways, including qualitative and quantitative terms – strict figures, technical wording, graphs, statusing, etc.

The set of project management parameters includes the following ones:

Project scope – actual working content that a project embraces;

Project time – duration of a project, and life-span of its results;

Project integration – a variety and type of participation and collaboration that a project demands from different concerned groups;

Project quality – specifications on project efficiency, capabilities and effectiveness of its results;

 Project risks – severity and probability of destructive influence that existing negative factors can put on a project execution;

Project costs – determination of money that a project will most likely consume to be completed;

Every project can be exhaustively defined with a help of these six parameters and all of them can be determined before the beginning of any project, as if even one of these parameters stays undefined to the time when you decide to start a project, then you severely risk failing this project.

Hi Kunal

The success of the project belongs to the managing the Iron Triangle also called "Tripple Constrants" whilst tripples constrants are as follow:

1) Time

2) Cost

3) Quality

In the modern management styles the successfully managing these parameters provide us a guarantee that we are managing everything succefully. These parameters are linked firmly to each other change in any one of these parameters will effect other automatically... i.eA project was planned to be completed in 12 months but the duration is forecasted it will complete in not less than 18 months so due to pro-longation of the project the budget will automatically will over run due to increase overhead and other cost accounts.

Some experts also link the Quantity as the fourth parameter to the tripple constrants depending on the project nature where quantity really matters and have great impact over these constrants.

In the tripple constrants the quality parameter is the one who never be comprmised the quality achievement metrics always to be remain on standards set out.

I hope it will help you.

Syed