This document discusses the importance of balancing cost, time, quality, and scope when managing projects. Projects must be delivered on time and within budget while meeting customer requirements and quality standards. These constraints of time, cost, quality, and scope are known as the "project triangle" or "project constraints" that all project managers must address.

1. Cost, Time, Quality and Scope
•Projects must be delivered on time.
•Projects must be within cost.
•Projects must be within scope.
Projects must meet customer requirements
with the appropriate quality level
Cost
Quality
Scope
Time
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