Defeating The Iron Triangle
Time, Cost, and Scope. Three attributes that can apply to just about any aspect of life. Regardless of the scenario to which one might decide to apply these constraints, there's always a give and take.
For the sake of this entry, lets define time, cost, and scope as the following:
Time: The duration required to complete the project and all associated sub-projects and deliverables.
Cost: The total financial resources required to complete the project. This includes the cost of all resources, and the cost to complete individual work packages.
DISCLAIMER: The next definition probably varies from source to source, however, this is my blog, and I will use knowledge that I've acquired over the course of my several years of formal education.
Scope: The requirements and objectives that have been identified to determine what the end product is expected to accomplish.
In a perfect world, time, cost, and scope would all be equal: Everything would be done in a timely manner, very cheaply, and with superior quality exactly as planned. Unfortunately, people, among other resources, are simply not that reliable. When it comes to the Iron Triangle, or Triple Constraint if you prefer to be formal, there's a constant balancing act to maintain (at minimum) an acceptable level of each attribute as possible. At what levels are these attributes considered sufficient or "good enough"? At what point does "good enough" become "not enough" resulting in project failure? While these considerations are mostly subjective and heavily dependent upon the identified scope, they are on-going considerations that must remain a priority for all primary stakeholders.
A common practice to conquer the Iron Triangle is to elect to focus on the two most important attributes of the three. What is deemed "important" may be subjective and vary from project to project. Although it may not be considered a winning situation, imagine the struggles of project managers across the globe:
- A project needs to be finished two months earlier than originally planned. The manager will either have to invest in more resources (raise cost), or reduce the scope to meet the time constraint. Opting to not take action will risk failure to meet the new project schedule.
- A particular project is limited in human resources. A manager may choose to move forward with current available resources, taking a risk that the deliverable may not be completed on time, or feed more capital into bringing on (or contracting out) more resources to perform the work. The manager may also (not preferred) reduce project scope to stay within time and cost constraints.
- There is an unexpected legal mandate that requires an increase in project scope. In this case, a manager may look to reduce scope in other areas to maintain time and cost constrains. A manager may also choose to invest more resources (people and money) to keep the project on schedule. Another option would be to delay the project, which may or may not raise costs.
In each scenario there is a trade off. Resolving issues that apply to one constraint, may require the need for action within one or more other constraints.
Although is it not impossible to complete a project on time, on budget, and on spec, it is difficult to achieve for various reasons (that I'll choose to save for a separate entry). Key steps that can be taken to achieve a successful deliverable that most sufficiently meets all three constraints lies within the PLANNING of a project. A buzz word that is commonly being thrown around is agile:
Early planning allows professionals to understand all work packages and deliverables required to have a successful end product. It also gives individuals an opportunity to consider all possible risks, and determine possible courses of action so that the constraints within the Iron Triangle may be minimally effected, if at all. Discounting risks and improper planning contribute to budget underestimation, resource and labor unavailability, activity sequencing conflicts, and so many more factors that directly effect the triple constraints.
I'll admit it. Though I've been involved in several projects (resulting in failure and success), I am in the beginning stages of this project management field, however, hear me when I say:
RESPECT THE IRON TRIANGLE.
PLAN! DO NOT TAKE SHORT CUTS!
Develop a clear, concrete project scope definition and stick to it. Determine the types and quantities of resources required to complete the project down to the number of nuts and bolts. Think about of the the external factors that may cause the project to go off course and determine (AHEAD OF TIME) possible courses of action, just in case. Get detailed! Consider every single deliverable of every single work package, and think about the cost for labor, materials, facilities, etc. necessary to complete each. Don't be shy about scheduling. Be specific in the sense that every foreseeable action or activity is included, including waiting for the paint to dry.
Be prepared and maintain focus and control during execution, and that is how you'll defeat the Iron Triangle.
For the sake of this entry, lets define time, cost, and scope as the following:
Time: The duration required to complete the project and all associated sub-projects and deliverables.
Cost: The total financial resources required to complete the project. This includes the cost of all resources, and the cost to complete individual work packages.
DISCLAIMER: The next definition probably varies from source to source, however, this is my blog, and I will use knowledge that I've acquired over the course of my several years of formal education.
Scope: The requirements and objectives that have been identified to determine what the end product is expected to accomplish.
Photo Credit: Cosmocatalano on Wikimedia | 2010
In a perfect world, time, cost, and scope would all be equal: Everything would be done in a timely manner, very cheaply, and with superior quality exactly as planned. Unfortunately, people, among other resources, are simply not that reliable. When it comes to the Iron Triangle, or Triple Constraint if you prefer to be formal, there's a constant balancing act to maintain (at minimum) an acceptable level of each attribute as possible. At what levels are these attributes considered sufficient or "good enough"? At what point does "good enough" become "not enough" resulting in project failure? While these considerations are mostly subjective and heavily dependent upon the identified scope, they are on-going considerations that must remain a priority for all primary stakeholders.
A common practice to conquer the Iron Triangle is to elect to focus on the two most important attributes of the three. What is deemed "important" may be subjective and vary from project to project. Although it may not be considered a winning situation, imagine the struggles of project managers across the globe:
- A project needs to be finished two months earlier than originally planned. The manager will either have to invest in more resources (raise cost), or reduce the scope to meet the time constraint. Opting to not take action will risk failure to meet the new project schedule.
- A particular project is limited in human resources. A manager may choose to move forward with current available resources, taking a risk that the deliverable may not be completed on time, or feed more capital into bringing on (or contracting out) more resources to perform the work. The manager may also (not preferred) reduce project scope to stay within time and cost constraints.
- There is an unexpected legal mandate that requires an increase in project scope. In this case, a manager may look to reduce scope in other areas to maintain time and cost constrains. A manager may also choose to invest more resources (people and money) to keep the project on schedule. Another option would be to delay the project, which may or may not raise costs.
In each scenario there is a trade off. Resolving issues that apply to one constraint, may require the need for action within one or more other constraints.
Although is it not impossible to complete a project on time, on budget, and on spec, it is difficult to achieve for various reasons (that I'll choose to save for a separate entry). Key steps that can be taken to achieve a successful deliverable that most sufficiently meets all three constraints lies within the PLANNING of a project. A buzz word that is commonly being thrown around is agile:
It's not moving fast enough, it's not agile.
We can plan during execution, because it's agile planning.Having a background in software development I fully understand the benefits of agile development and planning, however, agile development is not something that is best applied to large, expensive, long-term projects. When considering large scale projects it is important to perform steps from ALL project management process groups. The first process is to initiate the project. Obviously you cannot move forward until there is a project with which to move forward. The second process is planning.
Early planning allows professionals to understand all work packages and deliverables required to have a successful end product. It also gives individuals an opportunity to consider all possible risks, and determine possible courses of action so that the constraints within the Iron Triangle may be minimally effected, if at all. Discounting risks and improper planning contribute to budget underestimation, resource and labor unavailability, activity sequencing conflicts, and so many more factors that directly effect the triple constraints.
I'll admit it. Though I've been involved in several projects (resulting in failure and success), I am in the beginning stages of this project management field, however, hear me when I say:
RESPECT THE IRON TRIANGLE.
PLAN! DO NOT TAKE SHORT CUTS!
Develop a clear, concrete project scope definition and stick to it. Determine the types and quantities of resources required to complete the project down to the number of nuts and bolts. Think about of the the external factors that may cause the project to go off course and determine (AHEAD OF TIME) possible courses of action, just in case. Get detailed! Consider every single deliverable of every single work package, and think about the cost for labor, materials, facilities, etc. necessary to complete each. Don't be shy about scheduling. Be specific in the sense that every foreseeable action or activity is included, including waiting for the paint to dry.
Be prepared and maintain focus and control during execution, and that is how you'll defeat the Iron Triangle.
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