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Project Management Time / Cost Tradeoff and Iron Triangle

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Project Management Time / Cost Tradeoff and Iron Triangle

Building upon the time/cost tradeoff proposed by Kelley & Walker1 (see graphic 1), the project management “iron triangle” proposes a rigid relationship between scope, time and cost. Meaning, “you can have two but not all three objectives.” Operations Science proves the time/cost tradeoff and iron triangle to be false enabling significant reductions in cost and time while maintaining or even enhancing scope. Project Production Management (PPM) provides the framework for applying Operations Science and ”breaking” the iron triangle.

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