They are equally important. Quality should never be sacrificed. Scope is managed by the project scope and work breakdown structure. All deliverables produced on the project should be identified in the Project Work Breakdown Structure. The project's cost baseline should be managed and reviewed regularly to track performance related information to the deliverables produced at each project phase.

Cost management is the process of estimating, allocating, and controlling the costs in a project. It allows a business to predict coming expenses in order to reduce the chances of it going over budget.

It is the process used by project managers to minimize any potential problems that may negatively impact a project's timetable. Risk is any unexpected event that might affect the people, processes, technology, and resources involved in a project.