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[2] [3] Martin Barnes (1968) proposed a project cost model based on cost, time and resources (CTR) in his PhD thesis and in 1969, he designed a course entitled "Time and Cost in Contract Control" in which he drew a triangle with each apex representing cost, time and quality (CTQ). [4] Later, he expanded quality with performance, becoming CTP.
The triangle emphasises "the importance of managing 'quality' besides time and cost". [8] Speaking to APM’s journal, Project, in 2012, Barnes said of the triangle that he "really didn’t know just how important it would become". He stated that he created it because, when he was first running projects, "they weren't even referred to as projects.
Quality, cost, delivery (QCD), sometimes expanded to quality, cost, delivery, morale, safety (QCDMS), [1] is a management approach originally developed by the British automotive industry. [2] QCD assess different components of the production process and provides feedback in the form of facts and figures that help managers make logical decisions.
Common among all the project management types is that they focus on three important goals: time, quality, and cost. Successful projects are completed on schedule, within budget, and according to previously agreed quality standards i.e. meeting the Iron Triangle or Triple Constraint in order for projects to be considered a success or failure. [21]
The Earned Value Maturity Model. Management Concepts. ISBN 1-56726-180-9; U.S. Air Force Materiel Command (1994). "Guide to Analysis of Contractor Cost Data". AFMCPAM 65-501; Defense Contract Management Agency (2006) "Earned Value Implementation Guide" DAU link ISBN 978-1468178289; GAO (2009) "GAO Cost Estimating and Assessment Guide" GAO-09-SSP
Construction management (CM) aims to control the quality of a construction project's scope, time, and cost (sometimes referred to as a project management triangle or "triple constraints") to maximize the project owner's satisfaction.
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Project Management Triangle – is a model of the constraints of project ... quality management and documentation or administration ... cost, and schedule baselines ...