Managing the Triple Constraints | PPMT.X427

Project managers are largely judged by their ability to deliver planned scope on time and within the budget which is why this intermediate course dives into the complex interplay of the three components of the triple constraints—scope, schedule, and cost.

Often referred to as the Iron Triangle of Project Management, these components of each deliverable and project task contain elements of each of the triple constraints: What is being made? How much will it cost? How long will it take? Changes to any one of these factors will impact the other two. So, successful project management demands constant monitoring of each constraint and its mutual dependencies.

This course focuses deeply on how to manage the triple constraints, their interplay, and their impact on risk, quality, and procurement management throughout the project life cycle.

• Project planning: Students learn a wide range of tools, processes, and techniques that are necessary to create effective schedules, budgets, and plans.
• Project execution and control: Students focus on how to detect and manage variances from plans, how to perform root cause analysis, and how to manage project change.
• Project closure: Students learn to archive project data and conduct lessons learned activities to promote better scope, time, and cost management in future projects.

Learning Outcomes

At the conclusion of the course, you should be able to

• Define and size each leg of the Iron Triangle for any project.
• Understand how changing one constraint—scope, time, or cost—will affect the others.
• Prioritize and optimize all three sides.
• Escalate with options as each leg gets close to its limits during execution for the project.

Skills Needed Some familiarity with execution of a project (not necessarily technical).