Time, cost, and risk

TBS says project objectives typically include cost, schedule, and performance (how well the result should work), along with any other critical objectives. Once approved, those objectives form the baseline — the agreed picture of success.

Schedule means when work should happen. Skills for Success numeracy lists “estimate the time required to complete specific tasks” as a number skill. Write realistic dates, and leave a little room for delays.

Cost means what the work may require (money, donated supplies, or people’s time). List the main items. This course is not financial advice and will not tell you how to borrow or how to set a government budget.

Risk, in the TBS glossary, is the uncertainty around future events and outcomes. It is the likelihood and impact of an event that could affect objectives. A risk assessment identifies those events, considers how likely they are and how large the impact could be, and sets out plans to reduce the threat.

Examples (plain language, not official TBS scenarios): paint may not arrive on time; a volunteer may become ill; the hall may be booked on the only painting day. Write the risk and one backup idea (“order paint one week early”).

Change control is the process of identifying, documenting, approving or rejecting, and controlling changes. If someone asks for extra work, pause and decide together before the plan quietly grows.