Project Triangle Strategy – The Project Management Triangle

In this video, founder and director of Knowledge Train, Simon Buehring, walks us through the ‘project management triangle.’

This relatively simple idea states that the quality of a project is limited by 3 variables: Cost, time, and scope. Additionally, changes made to one must also affect others.

There are two types of relationships in the project triangle:
• The first is the relationship between scope and the two other project variables.
• The second is the relationship between time and cost.

These two relationships cannot be changed. Changing one variable will always cause a corresponding change in the other two points on the triangle. This is why the project triangle is often called the ‘iron triangle of triple constraints’ or the ‘iron triangle of project management.’

This model is also a useful way of figuring out how project managers can better achieve their goals. Changes aren’t always forced by external factors beyond our control. Sometimes we can make the decision to shorten development or lower costs. In this case, the project management triangle can quickly tell us what we need to do to achieve the desired outcome.  

If you’d like to learn more about the project management triangle, make sure to see our online project management courses by clicking:
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If project management training piques your interest, take a moment to explore this list of courses:
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Expand your knowledge of PRINCE2 along the way by clicking here for additional insights:
https://www.knowledgetrain.co.uk/proj...
https://www.knowledgetrain.co.uk/proj...

Knowledge Train helps organizations improve their capacity to manage projects through high-quality training solutions. We’ve helped tens of thousands of candidates learn to manage projects, programmes, portfolios, and change initiatives.

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