Project Management is broken down into four basic elements of a project: money, resources time, and the most important element, scope. All four of these elements are affected by one another and each of them must be managed efficiently and successfully for the project, and consequently the Project Manager, to be a success.
Here are your four basic elements:
- Money
Expenses, profits, losses, margins - Resources
Employees, Consultants, Sub Contractors, equipment, material - Time
Tasks, critical tasks, task timelines - Scope
Goals, Size, Requirements, Codes
Let’s talk a bit about the last element, the one I consider most important, scope.
