i.e. to set the project's boundaries by constructing an (imaginary) ring fence around it

would be my take on it....

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Note added at 2002-06-03 15:46:26 (GMT)
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I think it is more usual to write this as two words.... although that might be UK usage.

Check out \"IT projects frequently start with a requirements definition phase, or maybe a feasibility phase. Either way, the project is often substantially defined in terms of scope very early in the life of the project. This helps to ring fence the project. The IT costs and time scales can be worked out, and it generally provides a clear statement of purpose for the project team.

However, ring fencing the project in this way constrains the way the project unfolds. It shifts the purpose of the project from business objectives to system requirements and from business needs to system functions. The danger is you end up ring fencing the wrong problem. And then no amount of studious analysis will get you back on the right track. \" http://www.projectnet.co.uk/pm/pmt/pmtmara2.htm

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Note added at 2002-06-03 16:13:45 (GMT) Post-grading
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I think it is more usual to write this as two words.... although that might be UK usage.

Check out \"IT projects frequently start with a requirements definition phase, or maybe a feasibility phase. Either way, the project is often substantially defined in terms of scope very early in the life of the project. This helps to ring fence the project. The IT costs and time scales can be worked out, and it generally provides a clear statement of purpose for the project team.

However, ring fencing the project in this way constrains the way the project unfolds. It shifts the purpose of the project from business objectives to system requirements and from business needs to system functions. The danger is you end up ring fencing the wrong problem. And then no amount of studious analysis will get you back on the right track. \" http://www.projectnet.co.uk/pm/pmt/pmtmara2.htm