One image that is often used to explain project management is a project management triangle or iron triangle.
This image depicts the three constraints of any project: time, cost, and scope. The triangle shows how these constraints are interconnected, with each side representing one of the constraints. The point at the center of the triangle represents the quality of the final product.
The project management triangle (triple constraint triangle) is a useful image because it helps to illustrate the trade-offs that are often required in project management. For example, if the scope of the project increases, the time and cost of the project may also increase. Similarly, if the time or cost constraints are reduced, the scope of the project may need to be scaled back.
In the iron triangle, the three constraints are depicted as the vertices of a triangle, with each side representing one of the constraints. The point at the center of the triangle represents the quality of the final product.
The three constraints of the iron triangle are interdependent, which means that any change to one constraint will have an impact on the other two. For example, if the scope of a project is increased, the cost and/or time required to complete the project will also increase. Similarly, if the project’s budget is reduced, the scope of the project may need to be scaled back to meet the time constraint.
The iron triangle is an important tool for project managers because it helps them to understand the trade-offs that are inherent in any project. By considering the impact of changes to one constraint on the other two, project managers can make informed decisions and adjust their plans accordingly.
It is worth noting that some project managers and organizations have expanded the iron triangle to include additional constraints, such as quality or risk. However, the basic concept remains the same: projects are subject to constraints that must be managed and balanced to achieve success.