Table of contents
- Triple constraint concept
- Project management triangle
- The iron triangle as a project management tool
- Use the project management triangle to your advantage
A project allows a team, a company, or any organization attain a certain favorable outcome. Project management provides the guidance, controls, and best practices to ensure that a project starts, moves, and ends on a path of success to deliver that outcome with an acceptable quality. But in the real world, this path is full of project constraints, challenges, risks, and roadblocks. A project has boundaries and foremost of these is the iron triangle, also called the triple constraints or the project management triangle.
Triple constraint concept
Every project has basic characteristics. It has a clear start date and end date. It is a unique activity that produces something new. Also, a project operates within certain boundaries or constraints, which mainly are scope, time, and cost. These three interdependent constraints are inherent in every project, and any adjustment in one affects the other two as well as the quality of the project and final deliverable.
For example, based on a defined project scope, the project manager creates a schedule with a projected end date where the project team produces the final deliverable. From this schedule, the project manager calculates the cost of resources and other expenses needed, then comes up with the equivalent total project budget that the project manager asks the project sponsor for approval. But as the project proceeds, the scope expands because of scope creep. This change in scope affects the schedule, which is in danger of missing the end date. But to keep the same end date, the project team will need additional resources, which will affect the cost and make the project go over its budget.
Project management triangle
The project management triangle is a good representation of the relationships of the triple constraint concept where each side or point of the triangle represents a specific constraint.
Scope refers to the extent of the project. It defines what is part of the project, its purpose, objective, boundaries, and the work needed to achieve the final deliverable, be it a product, service, or result. Extending the scope when scope creep happens disfigures the perfect triangle so to speak, and the project ends differently compared to the initial plan or vision. This can mean without compensatory adjustments, the project will miss its deadlines, or it will go over-budget because of an extended schedule, or both.
The time constraint is the schedule the project stakeholders agreed on when everyone agreed that they needed the project to commence. It is the estimated total amount of time the project team needed to complete all the tasks and deliver the final result. When unforeseen delays during project execution happen, such as additional scope or unavailable resources, the original schedule extends to miss set deadlines. To get the schedule back on track, the project team may have to remove some items in the scope or ask for additional budget to get more resources.
Cost refers to the constraints brought about by using or hiring resources needed to complete the project. Although a project aims to provide value at the end of its successful delivery, the cost should always be less than the perceived value the project will deliver. Otherwise, it is not good business. If the sponsor reduces the project budget unrealistically, then the project team can only do so much tasks at a given time. They will probably miss the deadline. Or they can still meet the deadline but neglect some of the project requirements or scope, either way affecting the end quality and result of the project.
The iron triangle as a project management tool
Knowing about the triple constraints of project management and how it affects project delivery and success is one thing, using it to your advantage is another. One way to benefit from it is to use it as a guide know the stakeholders’ priorities and manage their expectations.
Scope as priority
If scope is the highest priority for the client and stakeholders, they can request changes or additions at any time in order to have the exact feature or result they needed. If scope is the priority, then the project manager should make it clear to the client that they have to remain open to the idea of a more flexible schedule to accommodate the changes they want. Also, additional scope means additional time and/or resources will increase project cost. On the part of the team, the project manager should explain clearly that with scope as priority, they can expect additional work as the project progresses.
Time as priority
If schedule is the highest priority, it means that no matter what, the project needs to end at a certain date. If this is the case, then the project manager needs to explain to the client and sponsor that sticking hard to the deadline can result in either an increase in cost for additional resources or a cut back on the original scope. Any changes in the scope can also affect the end quality of the final deliverable, so the project manager needs to track changes, watch metrics, and test work items in addition to tracking time.
Read also: Best Time Tracking Software & Tools in 2021
Cost as priority
If cost is the highest priority, this means the project team needs to operate strictly within the allocated budget. The project manager needs to communicate to clients and sponsors as often as possible and convince them that working with limited resources may result in adjusting the project schedule, scaling back the project scope, and agreeing upon a reduced quality of the final deliverable.
Use the project management triangle to your advantage
As the field of project management evolves, some experts see a limitation in the iron triangle. Some revised it to be a management constraint triangle with financials, stakeholders, and resources as the constraints. The PMBOK suggests additional constraints that include quality, benefit, and risk in addition to the original triangle constraints. Whether three or more, project constraints will always exist so project managers need to have all the tools they need including project management software. Also, they need to make it clear to clients and other stakeholders that any change in one constraint will certainly affect the others. So the project manager needs to communicate that it is really all about trade-offs.
Recommended Project Management Software
If you’re interested in learning more about top rated project management software, the editors at Project-Management.com actively recommend the following:
Tackle complex projects with Wrike’s award-winning project management software. Break projects into simple steps, assign tasks to team members, and visualize progress with Gantt charts, Kanban boards, and calendars. Manage resource allocation and forecasting with software that’s easy to launch. Automation and AI features strip away time-consuming admin tasks so you can do the best work of your life. Streamline your practices, align your team, and ensure you hit deadlines and stay on budget.
Smartsheet is an online work execution platform empowering organizations of all sizes to plan, manage, automate, and report on work. Over 80,000 brands rely on Smartsheet for project and work management.
monday.com Work OS is the project management software that helps you and your team plan, execute, and track projects and workflows in one collaborative space. Manage everything from simple to complex projects more efficiently with the help of visual boards, 200+ ready-made templates, clever no-code automations, and easy integrations. In addition, custom dashboards simplify reporting, so you can evaluate your progress and make data-driven decisions.