16 Managing projects as investments: Earned value to business value
However, as we show in the next chapter when we explore the concept
of TIME and its tradeoffs with SCOPE and COST, the decisions become
both trickier and more momentous: how many lives a project will save may
be just as inuenced by time as how much money our remote-controlled
Softy the Snowboy or beach hotel or antidepressant pill will generate.
Project scope: A secondary generator of the project value
Project scope, sometimes referred to as work scope, is the work neces-
sary to create the product scope. Project scope is driven by the details of
product scope: it is whatever is required to ensure that the nal product’s
intended features, requirements, and quality are ach