Today we had a discussion on The Project Management Triangle. For those of you new to this term, here is a diagram.
To optimize quality you as a product manager will face three constraints.
- Time: The time constraint refers to the amount of time available to complete the project.
- Cost: Cost refers to the budget available for the project.
- Scope: Scope refers to what is covered by the project in order to get the end results.
You can’t have all three, at max you can have two. You can’t cut your cake and eat it to.
The rule of thumb is to almost always cut the scope unless data heavily dictates doing something else.