Time has different meanings in the project management. It is closely related with the project costs and belongs therefore to the valuable resources, and must be managed well. The time and its changes are monitored along with other parameters in the whole project process. One of the parameters of the magic triangle is also time, which changes lead to the changes of the other two parameters (costs and quality).
It represents the definition of the duration of the activities as a time unit. This unit belongs to the planning, personnel and technique costs because of its connection to the costs. The more purposeful scheduling defines the success in a project management. First the time required for the completion of the tasks is determined and the financial units are accordingly assigned. The time period for the processing of each work packages is determined during the project management. If this time is not kept, the project management must provide alternative time unit and timely recognize its application. The use of the dimension “time” describes the project complete.