Project Management Triangle KNOW THE
3 ELEMENTS ANY PROJECT AND WHY THEY MATTER
The project management triangle is the three elements that determine when, how, and how well project is completed.
01
In a perfect world you have ample time and endless budget to deliver the highest quality project.
TIME
Time considerations include things like launch dates and deadlines.
02
Does it really need to be done fast? Decision makers may want something today... until they realize it will cost money or quality. Avoid emergency timelines through: • proper project planning & management • preparedness planning for emergencies But if you do need to execute quickly: • increase the budget for outside help • make decisions about quality. Does it need to be perfect or will the 80% rule work?
80%
RULE
Cost includes budget as well as staff and resources you can put to a project.
03
But we rarely live in a perfect world. What if you need to make choices?
It’s got to be done fast
COST
It’s got to be done cheap
QUALITY
While we all strive for great...some projects demand perfection and others just need to get done.
It’s got to be done well
If something needs to be done on the cheap, it’s usually not a high priority which means you may be flexible on: • time • quality
When something must be perfect it’s usually because of one of a number of factors: • it’s high profile • it’s mission critical • it’s a reputational risk
For cheap projects: • keep it in-house as staff time allows • make decisions about quality. If it’s not a high priority project, the 80% rule most likely applies
High quality projects take time and cost money so: • consider out-sourcing your project to an expert who can devote 100% to it • define “must haves” early in the project • pick your best person to oversee it • get briefed regularly so you can report up on the progress and identify any hiccups early on.
The 80% rule doesn’t mean low-quality but it is a “pencils down” approach at a certain point. Fine tuning and multiple rounds of editorial reviews for nuanced word smithing are off the table. But don’t compromise on fact checking, spelling, or grammar. When using the 80% rule to save time or money outline a clear review process: number of rounds, who is on point for what (fact checkers vs editorial ) and firm deadlines otherwise it defeats the purpose.
© Amy Callis 2020. www.DeviPartners.com