Here are concrete ways you can balance the constraints of the project management triangle.Ĭommunicate with stakeholders: Speak with stakeholders to know what is acceptable change and which constraints should be prioritized. Does your project have a hard deadline, a strict budget, or very specific deliverable requirements? Knowing this can give you a better idea of what a successful project will look like. You can ask stakeholders for a contingency budget, just in case you need to hire another engineer to help complete tasks. #Project triangle strategy wikipedia softwareSay your project to launch a new piece of software has a hard deadline, and you’re worried your engineers will fall behind. If you change the scope of a product you’re hoping to launch, you know that either the budget needs to increase, or the timeline needs to be extended (or both). It helps to see how changing one project constraint will affect other constraints. The project management triangle is a useful concept for project managers for the following reasons: Project management triangle: Why it matters This model is sometimes depicted as a six-point star made from two overlapping triangles. The six-constraint model adds benefit (sometimes replaced by “resources”), risk, and quality as three more separate constraints. Some models show an enhanced project management “triangle” with six constraints. So can a decreased budget-for example, if a team member is removed from the team due to budget constraints, it can take longer to complete a project. An expanded scope can increase timelines. This constraint is also called the schedule. Time: Time is how long it takes to complete tasks in a project, and the project itself. Adding new members to a team or increasing the time it takes to complete a project can impact cost. Costs might include salaries for employees, and money for equipment, tools, office space, and other resources. The scope might change if stakeholders decide mid-project that they want to adjust a product, or add another product entirely.Ĭost: Project cost is the total amount of money required to complete a project. Scope: Scope refers to the deliverables and tasks that must be completed to achieve the project’s goals. #Project triangle strategy wikipedia professionalImage from Google Project Management: Professional Certificate. Need to absolutely reduce the budget and timeline without changing the scope? Then the triangle might have to shrink-meaning the quality of the product might be reduced. Likewise, shortening the schedule to meet an earlier deadline might mean increasing the budget or tightening the scope. This might mean extending the original schedule of the project, or increasing the budget in order not to affect the quality of the output. Let’s say that you need to expand the scope of a project. Project managers must oversee all three of these constraints in order to complete a project successfully. It’s also called the triple constraint model or the iron triangle. The triangle shows that affecting one constraint will mean adjusting one or both of the others in order to maintain the quality. The project management triangle is a model in project management that shows how the balance between three constraints-scope, time, and budget-affects the quality of the project.
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