Question

Name the three opportunity constraints.

Answer 1

Opportunity is the characteristic that enables for the hike and developement of a particular task or a plan or a project etc.,whereas Constraints probes to the conditions or certain situations that restricts the usage or it is often said to limit the opportunities.

For example let us take a look at a project manager of a concern. A project manager while taking a look at the available opportunities he must also take a close look at the constraints too. The Three main or basic constarints that he must look at it are the cost, time & scope. These are also called as the triple constraints.

The Law of triple constraint states that the success of a project is generally impacted by its budget, deadlines and its basic essential characteristics where changing any one of it may have an adverse effect on the other two.These must be always taken into serious account as it has an ultimate impact on the success of the project.

Time refers to deadlines or schedules which are prepared to complete the targeted tasks. Scope refers to the certain and exact steps that are needed to be formulated and undertaken for the success of the proposed project of the business. Cost herewith refers to the budget planned within which the project is targeted to be completed.

The successful examination and execution of these triple constraints enriches the quality of the project which inturns provides an opportunity for the concern to get a better place in the market and to claim customers satisfaction . Therefore the opportunities and the constraints often goes hand in hand and it has to managed properly for the success of the business.