Going beyond Time, Cost, Quality in Project Management – CITI

Well in one way they were right. It is a complete mystery if they relied on the long-standing traditional ‘iron triangle‘ of project management–time, cost and quality, TCQ. This odd legacy just doesn’t deliver the right answer, and never did. It wasn’t until 1997, however, that commentators such as Shenhar and Bryde (amongst others) demolished this pernicious myth. Of course there are constraints such as budget and end-dates. These are crucial contributors to structuring a management activity as a project, but they have never been the way the success of a project is measured. Constraints and critical success factors (CSFs) combine to determine success, but there is always a hierarchy, some factors considered more important than others, and it is rare for time or cost constraints to be at the top. Look at the Sydney Opera House – late, late, late, and so overspent! The politicians were so incensed (and embarrassed) at the time by the project’s performance but today the structure is regarded as a triumph, is one of the world’s iconic buildings and put Sydney on the world’s stage. No doubting that this project is widely regarded as a success.