Most projects are not successful. According to a 2014 survey, less than 30% of capital projects are delivered on time or on budget. Planning and executing a successful project requires finding balance between the project schedule and risk.
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To achieve meaningful portfolio management benefits, both application and project portfolios should be considered.
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There are four parameters every project manager needs to understand: functionality, time, quality and productivity. Or, in other words, how to balance “TY”. Here we look at the final two parameters: quality and productivity. We will also briefly discuss fixed-date projects and the change during the project lifecycle.
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