Scope Time Cost Triangle Case Study
I. State your intentions for managing and balancing the scope-time-cost triangle.
A. Scope: Teladoc Inc. intends to communicate effectively with internal and external stakeholders to ensure that telehealth products meet or exceed the initial vison of the product design. Effective communication and transparency will also reduce the risk of changing the design of telehealth products and ultimately impacting the cost and time to deliver the product to the market.
B. Time: The best way for Teladoc to manage and balance time is to develop an effective plan that includes critical milestones, conduct project meetings, and follow-ups as needed. It is imperative for project managers to develop realistic milestones that provide enough time for …show more content…
Cost: Cost has the potential to impact the development of telehealth products if project managers lack accountability of the budget, overstates the budget, and has unexpected budget cuts. Teladoc will have an itemized cost breakdown to maintain accountability of the budget. Project managers can also overstate the budget, which may cause the cost of the project to spiral out of control. A way to avoid overstating the budget is to share research and development tasks with all project members to avoid cross departmental cost. Finally, there is a strong potential to have unexpected budget cuts. The best way to mitigate the risk of budget cuts is for project managers to develop a strong project statement that includes what the project need to have versus what would be nice to have to complete the project within the triple constraint of scope, time, and …show more content…
Equipment 1. Establishing the best price for medical devices and monitoring equipment. 2. Developing a way to repair or replace equipment that is broken, damaged, or dysfunctional.
III. Identify the triggers or signals that management will use to monitor if these risks are occurring or not.
A. The Chief Legal Officer, Chief Technology Officer, and Chief Medical Officer are key staff members that are responsible for ensuring that Teladoc stakeholders are informed of changes in health care laws and policies and evaluating the risk and the impact on future products (Teladoc, 2017). 1. The Chief Legal Officer will monitor all risks associated with changes in state and federal health care laws. 2. The Chief Technology Officer is responsible for ensuring that network connections, products, and interfaces operate on a secure network. 3. The Chief Medical Officer is responsible for expanding Teladoc’s physician and health care delivery network (Teladoc, 2017).
B. Teladoc will ensure that physicians maintain license to practice within the virtual network, all business contracts, and legal requirements are reviewed by Teladoc stakeholders and the Chief Legal
A. Scope: Teladoc Inc. intends to communicate effectively with internal and external stakeholders to ensure that telehealth products meet or exceed the initial vison of the product design. Effective communication and transparency will also reduce the risk of changing the design of telehealth products and ultimately impacting the cost and time to deliver the product to the market.
B. Time: The best way for Teladoc to manage and balance time is to develop an effective plan that includes critical milestones, conduct project meetings, and follow-ups as needed. It is imperative for project managers to develop realistic milestones that provide enough time for …show more content…
Cost: Cost has the potential to impact the development of telehealth products if project managers lack accountability of the budget, overstates the budget, and has unexpected budget cuts. Teladoc will have an itemized cost breakdown to maintain accountability of the budget. Project managers can also overstate the budget, which may cause the cost of the project to spiral out of control. A way to avoid overstating the budget is to share research and development tasks with all project members to avoid cross departmental cost. Finally, there is a strong potential to have unexpected budget cuts. The best way to mitigate the risk of budget cuts is for project managers to develop a strong project statement that includes what the project need to have versus what would be nice to have to complete the project within the triple constraint of scope, time, and …show more content…
Equipment 1. Establishing the best price for medical devices and monitoring equipment. 2. Developing a way to repair or replace equipment that is broken, damaged, or dysfunctional.
III. Identify the triggers or signals that management will use to monitor if these risks are occurring or not.
A. The Chief Legal Officer, Chief Technology Officer, and Chief Medical Officer are key staff members that are responsible for ensuring that Teladoc stakeholders are informed of changes in health care laws and policies and evaluating the risk and the impact on future products (Teladoc, 2017). 1. The Chief Legal Officer will monitor all risks associated with changes in state and federal health care laws. 2. The Chief Technology Officer is responsible for ensuring that network connections, products, and interfaces operate on a secure network. 3. The Chief Medical Officer is responsible for expanding Teladoc’s physician and health care delivery network (Teladoc, 2017).
B. Teladoc will ensure that physicians maintain license to practice within the virtual network, all business contracts, and legal requirements are reviewed by Teladoc stakeholders and the Chief Legal