What is The Triple Constraint?
The triple constraint model (also known as the project management triangle, iron triangle and project triangle) shows the three parameters that determine a project and its success: Time, cost and performance or quality. These three objectives are symbolized by the corners of a triangle:
- The time stands for the project duration and includes project start and end as well as all deadlines to be met that structure the project.
- Costs refers to the budget that is set before the start of the project and should not be exceeded.
- The performance of a project is determined by the objectives discussed with the stakeholders.
The 3 parameters are defined and prioritized before project start. The project control is then based on this.
If one of these variables changes, it has a direct effect on the other two variables. In order to achieve the project goals anyway, such a change must be compensated by the other two variables. This inevitably changes all three parameters.