Question

Give an example of a project (personal or professional) where you defined project success based on the concept of the Triple Constraints. Did your definition of success include a value component?

Answer 1

The last project I worked for at my game production firm the decisions regarding the project as well as its success was measured utilizing the concept of triple constraints. The project was successfully completed in the given time frame allowing for an early release test to be conducted. The project had value in its implementation which was given by the fact that the project was completed with only half the production budget with time spared to be able to beta test the project before the final release date. Using the triple constrains we calculated the value it proposed for the analytics team. The project's success was then analyzed by using its response in with customers, the team's throughput, the budget expenditure as well as the time which we took to implement the said system in place. The value component of the project could be considered as the price point the company could offer the product at, the marketing expense it could increase the budget for as well as how well it was received by the customers. Therefore, the value of success for the project was determined by the value component of the three factors of triple constraints as well as the value it provided to the customers in terms of choice and affordability.