Recently I was asked about the Project Triangle of Scope, Budget and Time and what it says.
The project management triangle is not a new concept – it’s a tool from the 1950s. All 3 constraints of time, scope, and cost are interconnected, and any changes in one will affect the other two.
- If you increase the scope of a project, you will have to also increase the cost or push back the deadlines.
- If you decrease the project’s budget, you will have to decrease the scope or extend the delivery deadline.
- If the project’s deadline is non-negotiable, then you will have to either decrease the scope or increase the budget.
As changes in any of the Project Triangle constraints will impact one or the other two, project managers must decide which trade-offs or compromises make the most sense.
It is important to ensure that each constraint is properly managed.
The Project Triangle helps project managers understand the limits of a project, which then guides them in their everyday decision-making process.
It is a reminder that projects cannot be cheap, good, and fast all at the same time, and that project managers should know where to make adjustments or compromises should change be warranted.
The dependencies must also be communicated clearly to the stakeholders when they request a change in the project management plan.
If you have any questions on the Project Triangle or project management, get in contact with us!
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