The lifeblood of many companies is winning tenders. Not only does this provide needed cash flow but also helps build reputation and credibility. With the slew of unethical suppliers, how do you set your company apart as an honest, ethical, fair, and ultimately trusted business partner. This article will explore how project management helps with understanding and managing Time, Cost, and Scope of a project PMP certification.
Most often, time is dictated by the client (purchaser), and most suppliers tend to accept the fixed deadline then try to negotiate on scope and cost (in some cases, quality as well) in order to get the business. This ends up being a bad idea since, once you have committed to the deadline, your credibility is on the line. One possible way is to adopt and promote project management within your organisation.
Applying project management tells us that, in order to get a fixed timeline, we need a perfect definition of scope. Most purchasers do not have a perfect definition of scope. Therefore, it is up to the project manager (and the team) to understand the scope of work and then clarify the areas with the most unknowns. Only through this process can more accurate time estimation be achieved. (Note: No project ever has 100% accurate time estimation.)
To understand scope, you must first understand that merely documenting what the client thinks they want is not sufficient. It is important to understand that, to manage scope, the client must be continuously involved and that changes to scope must be met with changes to time and cost. Therefore, the client continuously decides what he wants to spend his money on and you, the supplier, must be willing and able to adapt to those changes.