The Iron Triangle
A former boss of mine used to say, when negotiating new features with customers: “Of course we can deliver what you want, but you have to pick 2 out of 3: speed, quality and cost…”. The first time I heard that I was so amazed, I figured he had to be a genius!
He was referring to the classic “Project Management Triangle” or “Triple Constraint”. This concept highlights that in project management, particularly in software development, there are three primary constraints: speed (time), quality (scope), and cost (resources). The idea is that you can prioritize two of these constraints, but the third will be affected. Here’s a quick rundown:
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Speed and Quality: If a project must be completed quickly and to a high standard, the cost will likely increase due to needing more resources or specialized expertise.
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Speed and Cost: If the project must be completed quickly and on a tight budget, the quality might suffer because there might not be enough time or resources to ensure thorough testing and refinement.
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Quality and Cost: If high quality is required at a low cost, the project will likely take longer to complete because it will rely on a smaller or less specialized team working within budget constraints.
This concept is still relevant today, especially in enterprise-grade software development, where projects often face tight deadlines, high expectations for quality, and budget constraints. However, with advancements in technology, agile methodologies, and better project management tools, teams can sometimes find innovative ways to balance all three constraints more effectively.
Overall, the “pick two out of three” principle remains a useful guideline for setting realistic expectations and making informed decisions in software development projects.