Search results
Results from the WOW.Com Content Network
The project management triangle (called also the triple constraint, iron triangle and project triangle) is a model of the constraints of project management. While its origins are unclear, it has been used since at least the 1950s. [1] It contends that: The quality of work is constrained by the project's budget, deadlines and scope (features).
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]
Construction management (CM) aims to control the quality of a project's scope, time, and cost (sometimes referred to as a project management triangle or "triple constraints") to maximize the project owner's satisfaction.
Figure 2: Measuring schedule performance without knowledge of actual cost Figure 3: Measuring cost performance without a PV baseline Figure 4: The most common form of EVM graphic. It is helpful to see an example of project tracking that does not include earned value performance management.
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.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
These costs are seen as an equally important parameter besides feature scope and schedule, the three taken together yielding the well-known project triangle. By taking the right design decisions as early as during the initiation and concept phase of the product life-cycle, unnecessary costs at later