Planning and Control Methods for Project Management | Desklib

Running head: PLANNING AND CONTROL METHODS
Planning and Control Methods
Name of student
Name of University
Author’s Note

1PLANNING AND CONTROL METHODS
Table of Contents
1. Introduction..............................................................................................................................2
2. Triple Constrain Model............................................................................................................2
Strengths of triple constraint model.............................................................................................3
Limitations of triple constraint model.........................................................................................4
3. Two planning and control methods for managing cost constraints of Iron Triangle...............5
Planning Methods........................................................................................................................5
Control Methods..........................................................................................................................6
4. Evaluation................................................................................................................................8
Control Methods..........................................................................................................................8
Cost Planning Methods................................................................................................................9
5. Conclusion.............................................................................................................................10
6. References..............................................................................................................................12

2PLANNING AND CONTROL METHODS
1. Introduction
For managing the delivery of the project, Triple Constraint or Iron Triangle expresses the
cost, time and scope or quality of the project. Each point of the triangle is connected to one point
of the triangle. If any one of the points is move, then the impact will be seen on the other two
points. Through this it is understood that the triangle model interrelates the quality, time and cost
constraints. It has become the predominant framework to improve the design of the project with
respective of the organizations. This paper will provide the review of the triple constraint model
and provide the information about the strength and limitation that the model has with the project.
In the next section, there will be two planning and controlling method that can manage the cost
control of the Iron Triangle. The strength and weakness of the planning and control method will
be evaluated and finally address the weakness each method by identifying them.
2. Triple Constrain Model
There are certain constraints that are necessary to carry out a project and is commonly
known as the Triple Constrain representing the triangle of time, scope and cost (Serrador and
Turner 2015). The delivery of the project must be within the cost and on time. It should meet the
scope of the project. Additionally, the requirements of the customer quality should also be meet
(Serrador and Pinto 2015). The figure below demonstrates the Triple Constraint model.

3PLANNING AND CONTROL METHODS
Figure 1: Triple Constraint Model
Source: Author
Strengths of triple constraint model
Measuring the performance of the project: The author has proposed that the triple constrain
model of project management helps the team to take decisions effectively for planning and
controlling the respective projects during the phase of execution (Kumbhar, Desai and Gupta
2017). Thus, for such advantage of the project planning and controlling, the performance of the
project has significantly increase with the use of primary measurement framework of the Iron
Triangle (Iyer and Banerjee 2016).
Estimation of the budgeting of the project: according to the author, business involve project
management for proper estimation of the budgeting of the project (Klakegg and Lichtenberg
2016). This will identify various cost of the project that have lists of variables involve in it. For
triple constrain, cost is the major constraints for the project. With this model, the project manager
identifies the project costs and budget (McClory, Read and Labib 2017).