PROJECT TRIANGLE & 4M’s

Dr. ALI RAZA KHOSO

PROJECT TRIANGLE
• TIME
• COST
• SCOPE
• QUALITY
PROJECT TRIANGLE
• The project triangle visualizes the problem of “triple constraints”

• The three constraints in a project management triangle are time,

cost and scope.

• Emphasize the need to balance scope, cost, and time in order to

maintain a high-quality final product

• How to manage too little time, not enough budget, and an

impossibly large scope?
PROJECT TRIANGLE/IRON TRIANGLE
• If any one of the variables is changed, the other two must be adjusted
in order to keep the triangle connected (that’s why called as Iron
Triangle- once cannot bent it/non-flexible)

• If the triangle breaks—that is, if one point is moved without adjusting

one or both of the other points along with it—the quality of the
project will suffer.
 Time

• A project's activities can either take shorter or longer amount of time to

complete.
• Completion of tasks depends on a number of factors such as the number
of people working on the project, experience, skills, etc.
• Time is a crucial factor which is uncontrollable.
• On the other hand, failure to meet the deadlines in a project can create
adverse effects.
• Most often, the main reason for organizations to fail in terms of time is
due to lack of resources.
COST
• It's imperative for both the project manager and the organization to
have an estimated cost when undertaking a project.
• Budgets will ensure that project is developed or implemented below
a certain cost.
• Sometimes, project managers have to allocate additional resources in
order to meet the deadlines with a penalty of additional project costs.
SCOPE
• Scope is the size of a project in terms of quality, details amd quantity,
of project deliveries.
• This consists of a list of deliverables, which need to be addressed by
the project team (complexities, quantity, output quality etc.)
• A successful project manager knows how to manage both the scope
of the project and any change in scope which impacts time and cost.
Quality
• Quality is not a part of the project management triangle, but it is the ultimate
objective of every delivery.
• Hence, the project management triangle represents implies quality.
• Many project managers are under the notion that 'high quality comes with high
cost', which to some extent is true.
• By using low quality resources to accomplish project deadlines does not ensure
success of the overall project. Like with the scope, quality will also be an
important deliverable for the project
SCOPE with Time & Cost
• If you want to increase scope either time or cost will increase (direct
relationship).
Time Vs Cost
• Inverse relationship
• If lesser cost, then must have long time.
• If you want to have immediate project completion, need to increase
cost (extra resources).
Balancing the Iron Triangle
What is more important in projects – Time, cost or
quality?

• No compromise on either of them

• Good project management is to ensure that all the three variables meet the
standards defined in the original commitment.
• This would entail that all the three factors must be monitored and controlled
• How to get optimum one?
What is more important in projects – Time,
cost or quality?
• Time oriented Project or Cost oriented?
• Fast Tracking Project
• Public Projects
• To find a better solution, we need more understanding on how the
variables are related to each other.
• Many would claim that they all are negatively co-related.
• To be good with one means to be bad with the other.
RESOURCES FOR A PROJECT, 4M’s
1. MAN
2. MATERIAL
3. MACHINE
4. MONEY
1. M A N
Man in management is referred
to as a human resource.
It is the recruitment, selection,
training, promotion and grievances
handling of personnel.
This is the most important
resource.
• The right personnel for the right position is a sure bet for
organizational effectiveness and efficiency.

• Man in management is referred as a human resource.

• People make sure materials, machines, money and methods

are utilized in a productive manner to achieve goals and
objectives of organizations.
2. MATERIAL
Material is a basic ingredient in
management be it a service
industry or a product industry.
Right thinking and right planning
organization knows that materials
needed for any business or service
must be in place before ‘man’ can be of
use in any business activity.
Around 60% cost of project is utilise
by materials.
3. MACHINE
Machine are the basic tools to
produce goods or to generate
services.
Selection of an appropriate
machine not only enhances efficiency
but also saves times and increases
revenue.
Selections of a right technical
machine and equipment, availability of
spare parts, evaluation of after sales
services, substitutes and technology
and the organization budget are the
crucial criteria while purchasing a
machine.
Money
A medium that can be exchanged for
goods and services and is used as a
measure of their values on the market

Management is done to meet day to

day business requirements and the
funds involved in meeting those
requirements are known as working
capital.
MONEY
• Without money, no venture or enterprise can motivate workers, get
quality and sufficient materials, get the right machines and maintain
them or even ensure that time is properly managed.
• Where there is not enough money, no good workers, materials, or
machines can be employed or purchased
TASK
• Relate 4M’s with Time, Cost and Quality