Example Of Essay On What Is Triangular Management How Is It Related To The Contingency Approach

Management is a base of successful company’s growth. There are different principles and rules which are used by managers to analyze or understand the severities that may arise due to the realization of the project. The one thing created for better managers’ work, especially in resource planning, is project management triangle or triangular management.
First of all I want to consider what the project management triangle is. It includes three sides: time, cost, scope and a core – quality. So, this triangular describes three main constraints of every project. Time is an uncountable factor which depends on the amount of people who work on the certain project, their skills, experience, and the level of complexity of given tasks. Managers must create the schedule of tasks and follow it. The project time management includes: plan schedule management, define activities, sequence activities, estimate activity resources, estimate activity durations, develop a schedule, control schedule. Cost is a very important part of every project. The head of a company defines the budget can be used and managers discuss how they should apply this sum. Of course sometimes it’s necessary to allocate additional resources for making project better and in time. Cost includes fix and variable parts, but except this it uses such tools like management risk, cost contingency, cost escalation, and indirect costs. All companies need to achieve the final result and to understand how this result should look like. Scope includes features and functionality which are needed to reach established goals. Quality is not one of the sides of a triangle, but it is the core of every project. Some experts are under the notion ‘high quality - high price’. I think it’s true because good resources cost a lot of money; skilled workers need to get high salaries and so on.
It is a certain extent that all elements of triangular management should work together with complement of each other. If a manager wants to add scope, time or cost has to go up, as well. If he needs to deliver in less time, he also must set budget or reduce the scope. If he aimed at a cheaper product, he should reduce the scope or reduce the time it takes to complete the project.
It’s time to speak about the contingency approach and relation of triangular management to it. Contingency or situation approach is a concept in management affirming that principles and rules for management of every organization are different and there are no universally canons. Companies face different problems and challenges, have variable aims and require different ways of managing. To my mind the project management triangle is used in measures of situation approach. As different companies achieve variable goals, so they need to operate by different tools and sets. Up to point the proportion of time, cost and scope in firm activity will differ. Contingency approach depends on these elements. It should consider the specific of activity: how much time enterprise need to produce and deliver goods or services; what schedule is set by manager; what is the level of skilled and semi-skilled workers in company; what product the company manufactures and what resources are needed; what budget allocated by the head of firm.