Webinar: The Three Pillars of Successful Project Management (Spanish)
The relationship between the scope, schedule and cost of a project is referred to as the Triple Constraint or Triple Imperative or Iron Triangle. It is imperative that a Project Manager understands that adjustments cannot be made to one of the three attributes without affecting at least one of the others.
The iron triangle is actually a very simple top-level presentation of key elements for the successful project planning. Scope, time, and price/resources. Resources are in many industries the only or critical element of price. People are the most valuable asset and cannot be increased, decreased, or multiplied. Similarly, machine-like resources have a production capacity and cannot be changed just with a simple click.
Easy Project Iron Triangle
So how does come the Iron triangle into the picture? It offers us a simple yet efficient ability to understand where should we use waterfall planning and when some of the Agile approaches.
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