What is Triple Constraint Theory in Project Management?
Although the triple constraint theory might sound complicated, it is actually quite simple.
Let’s begin with a definition. Project management is based on the triple constraint theory. Every project must operate within the limits of scope, time and cost. Changes in one factor will always have an impact on the other two.
If a client wants to add several new features to their project, they will need to budget more money and time. You may also need to reduce the project requirements if your boss cuts your project budget.
It’s all about making trade-offs. It’s your job as a project manager to balance these three constraints and manage expectations to ensure everyone understands what it takes for a project to succeed.
The project management triangle
The project management triangle is commonly referred to as the triple constraint theory. Each point or side of the triangle represents one of three constraints in project management: cost, time, and scope.
Let’s dive a little deeper into each project constraint.
Scope: Triple constraint
Scope creep can sneak up on you in a funny way. Before you know it, “just another thing” has become a completely new project deliverable.
It is important to clearly define and document the project goals and requirements before any work begins. This will ensure everyone is clear on what “done” means and that you have a project truth to refer to if the scope begins to change.
Adding additional features can increase the project’s budget and time constraints. You may need to extend the deadline or assign additional people to the project, which can increase project costs. Monitoring scope changes allows you to make adjustments and discuss trade-offs before the project goes off track.
Triple constraint: Time (schedule)
Most people know that project management is a time-consuming business. This is especially true if you don’t want to compromise on the scope. Because a shorter deadline means that you need more resources to complete the work on time.
A detailed scope document is the best way to understand your project’s time constraints. You can also use it for a project estimate. Include your team in the discussion and think beyond task hours. It doesn’t matter how much time you spend in meetings, or how close you hold a stakeholder during the process.
The better your estimate, It’s what you will use to schedule work and make project decisions, if necessary.
Triple constraint: Budget (cost)
Your project budget will also be based on the project’s effort and time. Here are some costs to be aware of when preparing a project budget.
Resource costs are based on estimated hours (or stories points in Agile).
Materials
Equipment
Budget constraints can be communicated early and often. Nobody likes to be surprised by a large bill or the tense conversation that follows.
Unexpected expenses can be unexpected. Be prepared to explain the impact on the rest of the project and let your client decide if it’s worth it. Your client may not be an expert on project management and may not know how much the shiny new feature will end up costing them.
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Triple constraint theory is all well. How do you actually put this project management framework into action?
It’s all about keeping your eyes on the ball. Here are some i
