PROJECT MANAGEMENT




Project Management Triangle

Projects are delivered under three traditional constraints of Time, Cost and Quality. These are usually referred to as “Project Management Triangle” (also known as “Triple Constraint” or “Iron Triangle”). Underpinning our service delivery at Eureqa is a good understanding of how these constraints are interpreted in the way we work.

Time

At Eureqa, it means using agile project management processes to ensure contractual deadlines are met, mastery of planning and transparency in reporting potential delays to allow for timely intervention.

Cost

At Eureqa, it means researching the most cost-effective solutions for the client and meeting cost estimates and budgets.

Quality

It means meeting the clients specification and achieving guaranteed performance, HSE best practice and compliance with relevant laws and regulations.
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Like any human undertaking, projects need to be performed and delivered under certain constraints. Traditionally, these constraints have been listed as "quality," "time," and "cost". These are also referred to as the "Project Management Triangle," (also known as the "Iron Triangle") where each side represents a constraint. One side of the triangle cannot be changed without affecting the others. A further refinement of the constraints separates product "quality" or "performance" from scope, and turns quality into a fourth constraint.

The time constraint refers to the amount of time available to complete a project. The cost constraint refers to the budgeted amount available for the project. The scope constraint refers to what must be done to produce the project's end result. These three constraints are often competing constraints: increased scope typically means increased time and increased cost, a tight time constraint could mean increased costs and reduced scope, and a tight budget could mean increased time and reduced quality.