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.