discuss the project time and project cost as key variables of successful project implementation
Project management triangle The time constraint refers to the amount of time available to complete a project. The cost constraint refers to the budgeted amount available for the project. The scope constraint refers to what must be done to produce the project's end result. These three constraints are often competing constraints: increased scope typically means increased time and increased cost, a tight time constraint could mean increased costs and reduced scope, and a tight budget could mean increased time and reduced scope.
V-Model (software development) In software development, the V-model[2] represents a development process that may be considered an extension of the waterfall model, and is an example of the more general V-model. Instead of moving down in a linear way, the process steps are bent upwards after the coding phase, to form the typical V shape. The V-Model demonstrates the relationships between each phase of the development life cycle and its associated phase of testing. The horizontal and vertical axes represents time or project completeness (left-to-right) and level of abstraction (coarsest-grain abstraction uppermost), respectively.