Understanding Triple Constraints and Their Impact in Project Management

This is one of the least understood, but most important keys to understand in project management. Without getting into the slightly-more-detail-required information for project management, we'll work through the concepts using an analogy.

Imagine for a moment that you need to have something to eat. Your first thought is that you would like it to be good, fast and cheap. Can you get something that is good, fast and cheap? You can try, but it's unrealistic. Why? Because you're fighting three competing requirements. Confused? Let's work through an easy example.

Your first available choice is McDonald's. (I did put first available.) You can get a meal quickly and it won't cost much. However, it's not really good for you. Good and fast are next to impossible to achieve.

Your next available choice is Outback Steakhouse. You can get a really good meal, complete with vegetables at a reasonable price. However, it's not going to be ready quickly. Your waiter will take your order and let the cook know it you want it rare, medium or well done. It takes time to prepare your steak to your preferred taste. Once again good and fast don't work well together.

So a stop at McDonald's will almost certainly guarantee a bite that's fast and cheap, but lacks goodness (proper nutrition). In fact, if we have to wait at a McDonald's we quickly become impatient. That's why there is a limited menu and value pricing.

A visit to Outback will almost certainly guarantee a good meal at reasonable prices, but will take time. In fact, if they brought out our food right away we'd be suspicious that it was really somebody else's meal. That's why there is a wine selection and an extensive menu with plenty of choices.

Just to clarify, this is not about McDonald's vs. Outback. These two restaurant experiences illustrate how good and fast almost always works. It's also important to know what is most important. Given little time may dictate that grabbing a meal-to-go at McDonald's is the prudent choice. Given more time you may enjoy the luxury of a leisurely-paced-meal at Outback.

In project management, with triple constraints, there is always a relationship like this in play. Knowing the triple constraints and the impact they have on each other is critical to your success in project management.

Cooking Network Foods Steak Books