Project managers frequently face competing constraints. Identify these common constraints and describe approaches that project managers can use to make the trade-offs required to succeed.

The common constraints faced by project managers are project scope, cost and time.

Explanations:

The three main constraints faced by project managers are the project scope, cost and time. These constraints affect the quality of a project. In high quality projects, the product is delivered within its scope at the required budget and on time.

The constraints are usually connected to one another. For example, an increase in the project scope will require an increase in cost and time. Also, accelerating the project timeline may lead to a reduction in the project costs but also lower the scope.

A trade off in project occurs when one constraint is reduced so as to increase another constraint. For trade-offs to be successful, project managers should take time to scrutinize the organization's objectives and the expectations of the project by using a structure that allows the project manager look at other options for the constraints and find the greatest balance among the constraints and organizational goals.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number