How Can The Theory Of Constraints Apply To Internet Marketing Campaigns?
Most projects fail. According to the Standish Group, only 32% of all projects succeed, which is defined as being delivered on time, on budget, with the required features and functions. Those are pretty dismal figures and don’t bode well for customers and project sponsors who are investing in projects. There are a number of things that project managers and teams can do to try to improve performance. But what if you’re someone who is working with an internet marketing company? Do you, as a client, have a role to play in helping to increase the chances of your project succeeding? I believe you have a significant and important role. So… how can you help your internet marketing project team help you? One of the most important things you can do is understand some basic project management concepts and adjust your expectations in accordance with those concepts. I don’t want to get into the nitty gritty of project management here, but I believe it is necessary to give an overview of a basic project management concept, the theory of constraints, and how it applies to managing internet marketing projects.
The Triple Constraints Concept (aka the “Theory of Constraints”)
All projects have three core components: scope (the work to be completed), cost, and time to accomplish the work. For a defined amount of work, we can reasonably say it will take a certain amount of time, given a certain level of resources. The challenge is to keep the triangle in balance. Say, for example, you would like to include additional items into your project – perhaps a nice feature for your website, a tweak to the design, etc. These projects increase the scope. Therefore, an adjustment to the cost and/or time is required. If cost will be higher, then the time required to complete the project will be longer. If you want to move the deadline forward so that the project is done sooner, then scope or cost will also need to be adjusted to reflect the changed time component of the triangle. Scope can be reduced in order to get done sooner and/or we could increase the cost so that we can acquire more resources to apply against the project in order to get done sooner. I believe that simply understanding the triple constraints will help you communicate more effectively with the project manager of your internet marketing campaign and the team working on the project. It will also enable you to have more realistic expectations about the scope, cost, and time components of your project.