Constraints and assumptions are the content of the project scope specification, which is part of the project scope baseline, which is the input to define activities, estimate activity durations, develop schedules, estimate costs, budget, identify risks, and plan for the purchase of multiple processes.
The difference: The restriction factor is definite, objective existence. (e.g. project end date, contract termination date, budget only 5 million, up to 10 junior engineers, etc.)
The hypothetical condition is not currently deterministic. (The biggest assumption is that the project will succeed)
A constraint is a state, trait, or feeling that is subject to a given act or non-action. Can be from within or outside the project, limiting factors that can affect project or process performance. The restrictive factors are existing objectively, and often restrict and restrain the scope, cost, schedule and resources of the project. For example, any restriction or constraint imposed on the progress of a project that would affect the schedule of progress activities is a progress constraint and generally appears to be a fixed mandatory date. If the project is carried out under the contract, then the contractual terms are often a limiting factor.
A hypothetical condition is a factor that is not currently determined, is not validated, but is still considered correct, true, or deterministic. Assumptions are uncertain and affect all aspects of the project planning, and if the assumptions are not established in the course of the implementation of the project, the hypothetical conditions often imply risks. During the project planning process, the project team should often identify, document, and validate the assumptions.
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A talk on PMP--restrictive factors and hypothetical conditions