How Scope, Time and Cost are the determining factors for a successful video
The triple constraint is the combination of the three most significant restrictions on any project: scope, time, 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 has a higher success rate.
Cost should come last after scope and time, but this is where clients and business owners usually start. 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 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 don’t reflect well in the final outcome of a video. When we rush, we limit the rough draft process that usually irons out the kinks and let the client decides what they want to keep or cut out the video.
The Scope of a project is a formal statement of what a project is to deliver. It is a combination of the high-level requirements set out in the original statement of work and refined in both the project charter and project plan.
Changing the Scope after it’s been set is not easy and not generally advisable. Changes to Scope will bring changes to the timeline, and therefore to project cost.
All proposed and unapproved changes are highly likely to ensure that the project will run over time and budget. In severe cases, it may fail to complete or complete without achieving its original objectives.
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. Of the three constraints of time, cost and Scope, changes to either one implies changes to one or both of the others. When we look at video projects from this lens, then all parties can understand what needs to take place to make a successful video.
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