All project management deals with the famous “Triple Constraint,” which is also referred to by other terms, such as the “Project Management Triangle,” or the “Iron Triangle.” These three are the forces that govern every organizational project and which project management aims to control:
Every project manager must be knowledgeable of these constraints and how they relate with one another. For example, improving the quality of a deliverable can result in an increase in cost and adjustment of schedule. The discipline of project management enables the project manager and his team to work around these constraints and meet all organizational requirements.
Bharti Jogia-Sattar is an independent consultant who has helped various firms through her hands-on brand of leadership. Project management is just one of the wide range of skills she has developed throughout her professional career. Follow this Facebook page for similar articles.
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- Time: This constraint refers to the actual time when the deliverables, tasks, and the end result of the project need to be accomplished. Every project should have a deadline to maximize resources and achieve goals. Among the constraints, time is the only non-recoverable commodity.
- Cost: Every project entails finite financial resources to complete. Project management provides an estimation of various cost streams involved in the project to make sure that sufficient funding is allotted for every aspect of the project.
- Scope: The scope defines the quality of the project and how the tasks should be delivered. It should be identified upfront to increase the likelihood of project success and to manage everyone’s expectations.
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Bharti Jogia-Sattar is an independent consultant who has helped various firms through her hands-on brand of leadership. Project management is just one of the wide range of skills she has developed throughout her professional career. Follow this Facebook page for similar articles.
