We now turn to the fifth function, managing time, by which the project manager coordinates the efforts of those involved, delivers the change to meet market opportunities, and so ensures revenues are derived at a time which gives a satisfactory return on investment. All three of these purposes for managing time imply it is a soft constraint on most projects. Being late reduces the benefit; it does not cause the project to fail absolutely. There are only a few projects for which there is an absolute deadline. Project Giotto, the space craft which intercepted Halley's comet in 1986 was one: there was a very small time window in which to make the rendezvous, and if missed it would not reoccur for 76 years.1 Another is the ...

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