Strategies for Managing Cost-Driven Projects
When the cost constraint is the driver of the project, there’s a problem. A project should contribute substantially more value than it costs, or there’s a real question whether we should be doing the project at all. Therefore, a “normal” project usually has some cost flexibility.
If that’s true, then why would cost ever become the driver? First, because the resources simply aren’t available or don’t exist. As we’ve observed on the Apollo 13 CO2 filter project, the lives of the astronauts were worth a lot more money than the parts on the table, but the cost constraint was nonnegotiable; it ...