Squaring the Project Management Circle: Updating the Cost, Schedule, and Performance Methodology

Abstract

In the ever increasing complexity of defense acquisition, the traditional metrics for defense projects of cost, schedule, and performance are insufficient. This paper explores the concept of cost, schedule, and performance to determine if these three quintessential project management criteria are sufficient to serve as the guiding principles for defense project managers. The ever increasing complexity of the weapons system development environment, from the necessity for specialization to the intricacies of new technology, requires a broader view than that offered by cost, schedule, and performance. In squaring the project management circle, we must add a fourth variable, context, to provide focus. Because if we measure it, it will get done.