Enterprise implementations are complex beasts. It would be nice if Project Sponsors have clarity on priority.
What is more important?
- Ensuring the product (project outcome) is well received by the business, or
- The project is delivered within the set budget, or
- The project is delivered within a set target date
Yes, it is a balancing act. A balancing act means that there will be a tradeoff. You must be prepared to give away something to get something else. For example, you may have to spend more to improve the quality of the product. So you give away more capital in return for better quality.
If there is a choice, what is the one thing that every Project Sponsor must protect?
It is the project’s target completion date.
Yes, protect the timeline by compromising other constraints. If there is only one thing, you can ask your project team. Ask them to ensure they deliver the workable product within the agreed time. Among all other items, protecting the project timeline should be on top of your list. Consider fixing the project completion date and set clear expectations on acceptance criteria for the product. Everything else will take care of itself!