What three factors must be managed to ensure successful contract completion?

To ensure successful contract completion, managing cost, schedule, and performance is essential.

Cost refers to the budget allocated for the contract, and effective cost management ensures that the project stays within financial constraints. Schedule management involves tracking progress and ensuring that all tasks are completed on time, which is crucial for meeting deadlines and delivering the final product as anticipated. Performance encompasses meeting the specific requirements and standards outlined in the contract, ensuring that the deliverables are of the expected quality and functionality.

Together, these three factors create a balanced approach to contract management, allowing for alignment with the project's goals and objectives. Focusing on these elements helps mitigate risks and promotes the overall effectiveness of the contract execution process. The integration of these factors is fundamental in achieving positive outcomes in contract management.