What is Project Management Triangle ?

The triangle is now a hexagon!

Dr. Kerzner gave us the Scope,Time and Cost -triple constraints.

the community at large now defines the following as 'general' project constraints:

Scope,Quality,Budget,Schedule,Resources and Risks

The triangle has given way to the hexagon.It aint getting any simpler friends!

In the project management triangel where does the quality comes in? And we're not talking about quality. Why have we stopped talking about quality in the project triangel?

The three corners of PMT is Planning, Scheduling,Budgeting.First you have to prepare the plan and schedule it which cannot be possible without logic.Relationships has to be developed.The third imp. aspect is Budgeting which is incomplete without Assigning resources,material cost and overheads.Last but not the least Earned value analysis.

Warm Regards,

Scope, Cost and Time forms the Project Managment Triangle.

Scope Management deals with defining and controlling what is and  what is not included in the Project.Cost Management deals with the revenue/budget of the project and the Time which deals the beginning and end of the Project duration.

Project Management Triangle -  An OLD Concept with SCOPE, TIME and COST forming 3 sides of Triangle and Quality at the Centre. All of them being PROJECT CONSTRAINTS...

The Triangle Concept depicted the interdependency of these constraints. i.e scope changes lead to changes in Time, Cost and Quality issues, similar changes in any one constraints affects the others significantly..

Morden Day Project Management have more Project constraints like

SAFETY -  Zero Accident Free Manhours,

Stakeholder Requirements / Satisfaction,

Social Reponsibilities,

Legal and Regulatory Requirements,

Environmental Impacts,

Skilled Resource Constraints

Technological Advancements

Hence a present day Project Constraints could only be depicted in the form of a 'n' sided Pyramid based on 'n' Project Constraints under consideration for a given Project with "QUALITY" being the BASE of the PYRAMID.

Well, still if your project cosntraints falls only in a Project Management Triangle Format then, you have a well defined Project with all other constraints already taken care off or inbuilt.

A project manager basically encounter with major three constraints as above all well said that are Project scope, schedule and cost of the project, these three constraints forms the project management triangle.

Scope is come very early in the stage as this is the parameter specify that what project will and will not. Schedule is the time when the project will completed. Realistic schdule don;t come easily. Some projects requirea definte end date rather than or in addition to a definite budget.

An above all the cost :  you can call Budgets,monies, greenback, dead presidents whatever, project manager must find a method to accurately predict the cost of completing the project within  a given timeline and also need controlling the project in balance way along with the Quality also no doubt as Rahul well said Quality goes as 4th parameter only PM triangle comprises 3 major factor as per the industry norms.

Regards

It doesn't matter what industry you're in, at every project's core is the trio of time, money, and scope which comprises the Project triangle. These competing elements are sometimes referred to as the triple constraints of a project. Understanding the project triangle will allow one to make better choices when you need to make tradeoffs.

If one wants to adjust any one side of the triangle, the other two sides are affected. Changes to your plan can affect the triangle in various ways, depending on your specific circumstances and the nature of your project, like in some instances, shortening your schedule might increase costs but in other instances, it might actually decrease costs.

In terms of the project triangle, resources are considered a cost item. So as you adjust resources to accommodate more or less work or to reflect their availability, your costs go up or down correspondingly. These costs are based on resource pay rates .You also may notice that as you adjust resources, your schedule changes. For example, if you have a number of resource overallocations  and you level the project, the schedule might now include split tasks  and delays that extend the finish date.

I would rather put it as Cost, Schedule and Quality. Scope is usually decided earlier in the project and that is what determines the Cost and Schedule.

From the interpretation perspective: the customer is given these three choices and is asked to choose any two: Cost/Quality, Cost/Schedule, Schedule/Quality.

In any combination, one aspect of the triangle would suffer. The best fit is where all the three converge to the center of this triangle. In real life scenario also, this is the case. Where the customer or the company will suffer in one of these three aspects. The judgment is based on what is strategic and what is possible and is usually governed by what systems and processes are established in the company. 

Hope this helps.

Every project need to be performed and delivered under certain constraints.These constraints have been listed as "scope," "time," and "cost",these constraints are known as "Project Management Triangle," where each side represents a constraint. One side of the triangle cannot be changed without affecting the others. A further refinement of the constraints separates product "quality" or "performance" from scope, and turns quality into a fourth constraint.