ACCA Strategic Business Leader (SBL) Practice Exam

What does the triple constraint in project management refer to?

1. Scope, Quality, Stakeholder satisfaction

2. Scope, Time, Cost

3. Time, Cost, Resources

4. Quality, Risk, Satisfaction

The correct answer is: Scope, Time, Cost

The triple constraint in project management specifically refers to the three primary factors that influence the successful delivery of a project: scope, time, and cost. Understanding these components is essential for project managers as they navigate the complexities of project execution. - **Scope** defines what is included and what is excluded from the project. It outlines the deliverables and the work required to create them. Clearly defining the scope helps prevent scope creep, which can lead to project delays and budget overruns. - **Time** pertains to the schedule for the project, including the start and finish dates. Accurate time management is critical for ensuring that a project is completed within the available timeframe. Deviations from the planned schedule can affect the overall success of the project. - **Cost** encompasses the budget allocated for the project, including all the expenses related to resources, materials, and labor. Effective cost management ensures that the project can be completed within financial constraints, directly impacting profitability and sustainability. The relationship among these three constraints is key: changing one aspect typically necessitates adjustments in the others. For example, if the scope of the project is expanded, it may require more time and money to complete. Understanding and managing these constraints is crucial for achieving project objectives and delivering value to stakeholders.