In a project environment it's possible to identify variables that are inter-related and can impact the success of a project. The degree of flexibility for each variable is different from one project to another. They also could vary on the same project depending on the phase of the project or its status. Example of variables are:
The amount of work to be done represented by all the activities in the project plan.
The established time frame for executing the project represented by the time elapsed between the defined start and end date of the project deliverables.
The project budget and /or available funding for the project.
People, materials and equipment necessary to deliver the project.
The performance capability, which meets or exceeds the end user expectation.
Project management is the art and science of measuring, analyzing and managing the change in a project represented by these variables. Every person involved in a project whether they are managers, project leaders, contractors, vendors, project team members and owners should understand and appreciate the degree of flexibility available at all times. As part of the project planning process, the project manager should conduct a project variable and priority status discussion, to insure all project participants are fully aware of the constraints and flexibility in their project environment.