The Triple Constraint: Cost, Scope and Schedule
The triple constraint is also referred as the project management triangle or the iron triangle. It is used in project management as a graphic aid that helps in analyzing the project’s goals. It helps the team in a certain project to evaluate the management of costs and time in relation to expected results or goals.
Cost
Scope Time Cost In project management, cost refers to the financial value attached to resources used in the project. All resources have a cost or monetary value in relation to a project. Resources used in a project such as labor or workforce and ...