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The main risks and consequences of technical debt tend to be: 1. Maintenance burden and timeline risks: Technical debt increases the cost of ongoing maintenance, making it harder to predict release schedules. "Interest payments" result from incomplete work and escalating integration costs due to changes in the upstream project.
Related to this is the Project life cover ratio (PLCR), the ratio of the net present value of the cash flow over the remaining full life of the project to the outstanding debt balance in the period. It is a measure of the number of times the cash flow over the life of the project can repay the outstanding debt balance.
Project engineers do not necessarily do design work, but instead represent the contractor or client out in the field, help tradespeople interpret the job's designs, ensure the job is constructed according to the project plans, and assist project controls, including budgeting, scheduling, and planning. In some cases a project engineer is ...
Project management is the process of supervising the work of a team to achieve all project goals within the given constraints. [1] This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time and budget. [2]
Project management is the responsibility of a project manager. This individual seldom participates directly in the activities that produce the result, but rather strives to maintain the progress, mutual interaction and tasks of various parties in such a way that reduces the risk of overall failure, maximizes benefits, and minimizes costs.
The project management triangle. The project management triangle (called also the triple constraint, iron triangle and project triangle) is a model of the constraints of project management. While its origins are unclear, it has been used since at least the 1950s. [1] It contends that: