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    This Is Intended To Accompany The Following Titles From Clydebank Media

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    João Paulo Souza
    The golden triangle of project management constraints visualizes the relationship between time, cost, and scope - the three main factors that project managers must balance. Changing one constraint affects the others, as they are interdependent. For example, increasing a project's scope often requires more time and increased costs. Time estimates must account for task dependencies and availability of resources. Costs encompass more than money and are tied to time and scope. A project's scope defines its goal and quality aims to be delivered on time and on budget. Altering one constraint distorts the triangle and impacts quality.

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    This Is Intended To Accompany The Following Titles From Clydebank Media

    Uploaded by

    João Paulo Souza
    36 views3 pages
    The golden triangle of project management constraints visualizes the relationship between time, cost, and scope - the three main factors that project managers must balance. Changing one constraint affects the others, as they are interdependent. For example, increasing a project's scope often requires more time and increased costs. Time estimates must account for task dependencies and availability of resources. Costs encompass more than money and are tied to time and scope. A project's scope defines its goal and quality aims to be delivered on time and on budget. Altering one constraint distorts the triangle and impacts quality.

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    GoldenTriangle Summary

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    GoldenTriangle Summary

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    The golden triangle of project management constraints visualizes the relationship between time, cost, and scope - the three main factors that project managers must balance. Changing one constraint affects the others, as they are interdependent. For example, increasing a project's scope often requires more time and increased costs. Time estimates must account for task dependencies and availability of resources. Costs encompass more than money and are tied to time and scope. A project's scope defines its goal and quality aims to be delivered on time and on budget. Altering one constraint distorts the triangle and impacts quality.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    36 views3 pages

    This Is Intended To Accompany The Following Titles From Clydebank Media

    Uploaded by

    João Paulo Souza
    The golden triangle of project management constraints visualizes the relationship between time, cost, and scope - the three main factors that project managers must balance. Changing one constraint affects the others, as they are interdependent. For example, increasing a project's scope often requires more time and increased costs. Time estimates must account for task dependencies and availability of resources. Costs encompass more than money and are tied to time and scope. A project's scope defines its goal and quality aims to be delivered on time and on budget. Altering one constraint distorts the triangle and impacts quality.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    THIS CONCEPT SUMMARY

    IS INTENDED TO ACCOMPANY
    THE FOLLOWING TITLES
    FROM CLYDEBANK MEDIA:
    Your World, Simplified.
    www.clydebankmedia.com

    The Golden Triangle of


    Project Management Constraints

    The golden triangle of project management is a visual model of the constraints that project
    managers face. It’s presented as a triangle to demonstrate the opposition between the project
    elements. Similarly, one side of the triangle cannot be changed without altering the others—each
    of these constraints competes with the others.
    For example, if the scope of a project is increased, that often means that the time needed to
    complete it will increase, along with associated costs.

    Time/Schedule
    A common technique for determining the amount of time needed to complete a project
    is the creation of a work breakdown structure (WBS). A WBS estimates the time needed to
    complete tasks and shows which tasks have priority, as well as which tasks are constrained by
    dependency.
    A task that is dependency constrained cannot be started without a prerequisite task being
    completed first. Tasks with dependency constraints are an unfortunate reality of time estimation
    planning; failure to account for dependency constraint lead time can result in inaccurate time
    estimates.
    Other constraints that must be kept in mind when developing accurate time estimates are
    tasks that are constrained by their resource needs. The availability of the requisite resources—
    whether material, human, or financial—will impact task completion and therefore time needed
    to complete. This is yet another example of how the constraints of the golden triangle are
    linked to one another and in opposition.

    Cost
    The cost of a project includes the consumption of more resources than just financial capital
    (though financial implications are a huge part of a project’s cost). Aspects such as worker
    skill and productivity must be taken into account. The availability, storage, and transport of
    materials are also tied to financial concepts but can potentially have a disruptive effect greater
    than their financial cost if mishandled or incorrectly estimated.
    Today’s project managers benefit from advanced software that crunches the numbers and
    forecasts cost fluctuations. As the golden triangle outlines, cost is tied to time and scope, often
    in opposition. Want a project completed faster? Less time invariably means more cost. Want to
    expand the scope of the project by setting new goals? That’s going to increase the cost (as well
    as the time needed to complete the project).
    The inverse can be true as well. A decrease in the scope of a project can reduce cost.
    Extending the timeline also can have cost-reduction benefits.

    Scope
    The scope of a project is the project’s goal. What is this undertaking aiming to achieve? Ideally,
    this outcome is delivered on time and under budget (without exceeding the estimated time or
    cost).

    A major component of a project’s scope is the quality of the final product. A project’s scope can
    be thought of as a specification, meaning that a high-quality final product is a project that is
    delivered on time, on spec, and on budget.

    It is for this reason that quality is placed in the middle of the golden triangle. Each of the
    competing constraints of cost, schedule, and scope are contributory to the quality of the final
    product. Distortion of one of the constraints—exceeding cost, for example—would take each of
    the constraints out of balance, therefore changing the shape of the triangle. In real world terms,
    this would be an issue with the quality of the project’s final deliverable.

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