The Iron Triangle

The Iron Triangle refers to the relationship between three key factors in project management: scope, time, and cost. It illustrates how changes to one factor affect the others. For example, if you want to complete a project faster (time), you might need to increase costs or reduce the total amount of work (scope). The triangle helps project managers balance these elements to meet objectives, as prioritizing one often compromises the others. Understanding this balance is crucial for successful project delivery.