Originally conceived as a framework to enable project managers to evaluate and balance the triple constraints of cost, time and scope, the Project Management Triangle, otherwise known as the Iron...

Originally conceived as a framework to enable project managers to evaluate and balance the triple constraints of cost, time and scope, the Project Management Triangle, otherwise known as the Iron Triangle, quickly became the predominant measure of project performance. It helps improve design and planning decisions and assists in the effective control of the project during execution phase. At its core is the assumption that cost is a function of both time and scope. However, misguided or impractical trade-offs between these constraints can seriously jeopardise the success of the project even beyond the implementation stage. For example, Merrow (2012) found that 64% of oil and gas projects that failed to meet their initially set cost and time targets go on to experience "serious and enduring production attainment problems in the first 2 years of first oil or gas". Usually, when a project experiences a large cost overrun, it overruns its schedule significantly as well –  the Edinburgh Trams in Scotland being recent high profile examples (Railnews 2012). In a 2000 word document, appropriately structured as a report,

a)    From a control perspective, Critically appraise the strengths and limitations of the triple constraint model
b)    Discuss two planning and control methods adopted to manage one of the constraints of the Iron Triangle. Wherever possible and appropriate, please make reference to the practice in your own work environment or experience,
c)    Evaluate the weaknesses and strengths of the methods of control used in your organisation and discuss the avenues to address the identified weaknesses.