Explanation
A constraint is a factor that limits the options or the performance of the project or the solution. Constraints are usually imposed by external factors, such as laws, regulations, standards, policies, resources, time, or budget.
Constraints can affect the feasibility, desirability, and suitability of the solution, and may require trade-offs or compromises among the requirements. A constraint is different from a requirement, which is a condition or capability that the solution must have or meet to satisfy the stakeholder needs and expectations123.
In this question, the $300,000 represents a constraint, as it is a factor that limits the options or the performance of the solution. The customer demands that the solution should not cost more than $300,000 to implement and support for one year, which means that the solution must fit within this budget constraint. This constraint may affect the choice of technologies, processes, or features that the solution can include, and may require prioritizing or eliminating some requirements to meet the budget limit. References: 1: BABOK Guide v3, section 3.4.2 Assess Capability Gaps, page 70 2: CBAP / CCBA Certified Business Analysis Study Guide, chapter 4, page 109 3: Business Analysis Techniques: Identifying Constraints, page 24