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The Analysis of the Iron Triangle and Agile - Essay Example

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The paper "The Analysis of the Iron Triangle and Agile" states the lecture by Erin on Agile online. Here, the discussion seeks to differentiate the Iron Triangle and Agile. From this discussion, it can be inferred that the Iron Triangle demonstrates the aspect of scope, cost and schedule of a project…
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The Analysis of the Iron Triangle and Agile
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The cost used to set up a project should be realistic and should have returns. Every business or project management aims at making profits (output) and time and cost are the core factors for a profitable output (Beierwaltes).

On starting a project, one should first construct a WBS (work breakdown structure). A WBS consists of a schedule on how the project will progress and the time assigned to each task in the project. There are three constraints on a project, i.e., time, scope, and cost. The scope is the results that are expected from the project and the time constraint is the scheduled time to complete a given task. Cost is the primary constraint in the discussion because it is the amount of capital available for a company to complete its project successfully. The Cost must be budgeted at the beginning of a project, and it should have an excess. The reason is; if after a long period, there will be mismanagement of funds, then the excess capital will be used to complete the project.

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