Project Management: COST is the only thing that matters
Remember this word: COST (and unfortunately, you will). An acronym helping you remember the 4 aspects of project management that matter most:
C for Cost;
O for Organization;
S for Schedule;
T for Technique.
It’s very simple, probably simplistic. But who knows, sometimes complex problems have an easy way out.
PS: I’m very likely to post a “Who am I?” number 4 tomorrow, on Sunday. So keep your eyes opened.
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What does “Technical” in this context mean or didn’t anyone just find a synonym for “Quality” which would’ve started with a T? =)
Actually Kari, I translated the acronym from French. “Technique” would make sense: I guess I should have translated it with technical decisions or technical choices. There ’s a technical side on any project and that’s the message the “T” is trying to convey.
You can say “technique” aka method in English as well.
Gotta go, but I may post my thoughts on this subject later on.
Thanks Vince, I wrote “Technique” instead of “Technical”. Looking forward to reading your thoughts on Project Management.
COST – Project Management essence
I came across this post that says COST is the only thing that matters for project management. I liked his idea of coin an acronym COST; however, I think I would see this in a slightly different perspective for the same acronym. COST as he says: Cost, …
Take a look at the precedent trackback. According to Rams, COST becomes:
C = Cost / budget
O = Organization
S = Scope
T = Time
Interesting, uh?