The Variations of the Classic Project Management Triangle

Only available on StudyMode
  • Download(s) : 107
  • Published : December 29, 2011
Open Document
Text Preview
The Variations of the Classic Project Management Triangle

The Project Management Triangle is a widely used phenomenon throughout the world in the current world, which is continuously evolving as well. The project management triangle basically comprises of Time, Cost and Scope and sometimes Quality is also included. The reason these aspects are highlighted as constraints in Project Management, because every project faces problems in all these areas. The best Project Managers are those who are able to balance out these constraints, so they can successfully complete the project. The basic idea followed by this Triangle is that, every project has a cost, a time in which it has to be completed and a set scope which is defined at the start of the project. If anyone of these aspects gets out of the control of the Project Manager, then the triangle will fall from one side. For Example, A project has reached its second milestone, and the Project Manager realizes he is behind the schedule, while the cost and scope are as planned. This means the triangle has fallen on one side. The main question that lies here is how to overcome the challenges faced in managing the triangle, by promising the constraints. These triple constraints and Quality are all very closely related to each other. The main problem for a Project Manager here is that if he concentrates on one aspect of the Triangle, it might negatively impact the other constraint as well. So, to strike a balance is not an easy task. The question here to be answered is How to Strike a Balance? One main way of striking a balance is by promising the constraints. Setting priorities is not a hard and fast rule, and it completely depends on the basic objective and nature of the Project. One Project might have more emphasizes on the Quality, while for the other project maintaining a low cost is the highest priority. To understand where your project’s priorities lie is a very important step for a Project Manager. A...
tracking img