How these 3 key elements, determines a successful Video project; Scope, Time and Cost
The triple constraint is the combination of the three most significant restrictions on any project: scope, schedule and cost. The triple constraint is sometimes referred to as the project management triangle or the iron triangle.
Even though the Triple Constraint is a project management term, it applies to video projects as well. The project that is well defined within a company’s capability usually have a higher success rate.
Cost, Scope and Time
Should come last after scope and time, but this is where clients and business owners usually start at. The problem with starting here is that this is where they attempt to cut corners. Most business owners, when utilizing other services, will try to diminish the cost or eliminate it all together by attempting to do it themselves. When that happens, you shrink the scope, increase the time and lower the quality. What’s worse is the event you have to do it over again, which will drive up the cost.
When you diminish the cost you shrink the scope of the work that can actually be done. I think this is something we all know. Most projects should start here first. If we start with the scope of the work first, if needed we can cut some of the cost. You’ll have a list of what is required to make your project work. By starting with the scope, if we have to pull back, we can then start with what’s least important to you and work our way from there to the desired cost.
This should be second on your list. When is this video needed? Does it fall in line with a certain promotion, presentation, or event? Knowing the timeframe of what’s needed can help what can actually be accomplished within a scope. Most production companies avoid last minute video work. Rushing through storyboards, production and editing doesn’t reflect well in the final outcome of a video. When we rush, we limit the rough draft process that usually iron out the kinks and let the client decides what they want to keep or cut out the video.
Quality in the middle is an indication that it is not negotiable while scope, time and cost on sides indicate that we need to negotiate them to balance the triangle. When we look at video project from this lens, then all parties can understand what needs to take place to make a successful video.
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