When starting a new project, there will often be missing information about many things, inconstancies in ideas about scope, lack of consensus about cost, plans and many organisational issues. But don’t worry, that is just a condition for most projects.

A way to attack these issues is to take a discussion with the project owner or the steering committee using the iron triangle of project management.

The three sides of the triangle consist of the variables time, resources, and deliverables, also called scope/quality:

Time represents the calendar time spent from the start until the end of a project.

The deliverable (scope) is the final project or result..

The resources are what is available in the form of finances, employees, or materials to bring the project to completion.

One of the keys to success in project management is to bring the triangle into balance, ensuring that all key stakeholders are aware and informed about issues and risks that can get it out of balance.

It requires that the project manager constantly keep an eye on and feel for the various tasks in the project and the changes that happen along the way. The project manager must try as far as possible to be at the forefront of how the three sides and mechanisms affect each other.

If, for example, the schedule suddenly cannot be met, the project manager must keep an eye out because this will also impact the economy. And if the economy suddenly changes, the project manager may be forced to change the quality and content of the project delivery.

Many project managers are so dutiful by nature that it sometimes overshadows realism. Still, they must dare to question the framework conditions and propose changes if they see that the project is heading out of course – otherwise, the project risks imbalance and, in the worst case, a failure.

The project triangle becomes skewed if only one side of the triangle moves. To create balance, the project manager must adjust or adapt to the others. In this case, the project manager needs to negotiate and have a dialogue with the project owner and possibly management and steering group to find a solution that will bring the project back into balance. Thus, a project triangle is a good tool for leading upward and agreeing on the adaptations that must get the project to its goal.

If the project runs into unexpected challenges, the project manager can react in four different ways:

• Compromise the time variable and postpone the project deadline.
• Add more resources to the project, for example, in the form of employees, finances and alike.
• Remove tasks and thereby cut the scope of the project.
• Compromise on quality.

Together with the project plan, the project triangle is a unique tool for communication, involvement, and negotiation with the project owner – not only in the planning phase but also during the implementation phase. Be aware that changes will always occur along the way.