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Glossary

Scope

In a business context, "scope" refers to the defined boundaries, objectives, and the range of work to be accomplished within a project or a particular task.

Understanding the concept of scope

Scope pertains to the range of activities and products that a project is anticipated to generate. It is shaped by the project's goals and limitations, and it remains adaptable throughout the project's duration. Scope creep denotes the tendency for a project's scope to gradually expand, potentially causing cost overruns and schedule delays.

Calculating the scope of a project

Determining a project's scope is a pivotal aspect of financial modeling. The project's scope encompasses the overall volume of work essential to accomplish its goals. To compute a project's scope, one must first comprehend its objectives and subsequently identify the tasks or activities required to fulfill those objectives. Once these tasks or activities are established, estimating the necessary time and resources to complete them becomes feasible.

Calculating project scope

The project scope defines the deliverables or services anticipated from a project. These deliverables are generally outlined in terms of what will be delivered, rather than the method of delivery. It is decided by the project manager in collaboration with the customer or client. This definition is documented in a scope statement, encompassing the description of deliverables, inclusions, exclusions, conditions, and acceptance criteria.

The project manager can determine the project scope by dissecting the work essential for producing the deliverables into tasks, followed by an estimation of the required time and resources. Subsequently, the project schedule and budget are devised based on these estimations.

Determining project scope

The primary step in determining the project scope is comprehending and mutually agreeing upon the project's objectives. Once the objectives are clear, the next step involves specifying what is and isn't encompassed in the project through a project charter or statement of work. This helps establish the project's limitations and ensures clarity among all involved parties regarding its objectives.

Differentiating project scope and project control

The core disparity between project scope and project control lies in their functions. Project scope revolves around the tasks required to achieve the project's goals, while project control centers on ensuring timely, budget-constrained, and quality-compliant project delivery. While project scope outlines the project's boundaries, project control works to prevent overstepping these boundaries.

Project scope defines the deliverables necessary to meet the project's objectives, whereas project control guarantees their timely production within budget constraints and meeting quality standards. Additionally, project control continuously monitors and adapts the project plan to maintain the project's trajectory.

Project scope defines the project's goals and objectives, while project control ensures the attainment of these goals. It monitors the project's progress and implements corrective measures as needed to keep the project on course.