The Project Management Triangle
Triple limitation describes the balance between project content, cost, time, and quality. The quality was added later, therefore it was originally named as a triple limitation.
As required by any undertaking, the project must proceed and reach the final, subject to certain restrictions. Classically, these restrictions are defined as project content, time, and cost. They also relate to the Project Management Triangle, where each side represents a constraint. Changing one side of the triangle affects the other side. Further clarification of the limitations highlighted the quality and effect of the content, turning quality into the fourth limitation.
The time limit is determined by the amount of time available to complete the project. The limited value is determined by the budget allocated for the project. The limited content is determined by the set of actions necessary to achieve the final result of the project. These three limitations often compete with each other. Changing the content of the project usually leads to a change in the timing (time) and cost. Deadlines (time) can cause an increase in cost and a decrease in content. A small budget (cost) can cause an increase in time (time) and a decrease in content.
A different approach to project management considers the following three limitations: finance, time and human resources. If necessary, reduce the time (time), you can increase the number of people employed to solve the problem, which will certainly lead to an increase in the budget (cost). Due to the fact that this task will be solved faster, you can avoid budget growth by reducing costs by an equal amount in any other segment of the project.
Gallery
Share link: