Agile Golden Triangle Project management: A “Golden Product” in Organizations

Golden triangle project management is a concept that illustrates the interdependence of time, cost, and scope in managing a project. When prioritizing one constraint, it can have a significant impact on the other two. If time is the top priority, the project will be completed quickly but at the expense of scope or increased cost.

On the other hand, if cost is the main focus, the project will be completed under budget but may require cutting down on scope or missing deadlines. Money is also a constraint in the golden triangle project management that must be considered. However, spending more money doesn’t mean that the task will be done any differently. Go for the best Agile certifications and get certified by the top accreditation bodies. 

What is Agile Triangle?

The Agile golden triangle project is a concept that focuses on delivering value, quality, and managing constraints, specifically time, cost, and scope. The goal of Agile is to release valuable and high-quality features to users while minimizing the constraints of time, budget, and scope. The Agile Triangle represents the trade-offs that need to be made to optimize project performance.

The Agile golden triangle project is a project management model that represents the following limitations that hinder the execution of the project. They are: 

• Value 
• Quality 
• Constraints 

These constraints are interdependent. If there’s a fluctuation in any one of the limitations, then the others change too. 

In Agile project management triangle methodologies, it is important to have harmony among all the above-mentioned variants.

What is Traditional Iron Triangle?

The iron triangle is a concept that illustrates the interdependence of the three limitations in project management: 

• Cost 
• Time 
• Scope 

These three constraints are often considered the "triple constraint" of project management, and they are often in tension with one another. The iron triangle states that if any one of the constraints fluctuates, others are bound to change too. 

 If the project manager wants to accelerate the schedule, it may require additional resources, increasing costs. And if the project manager wants to increase the project's scope, it will increase the cost and take more time. 

An iron triangle project management example for a software solutions company would be a project to develop a new mobile app for a client. The project manager needs to balance the three constraints of cost, time, and scope to deliver a high-quality mobile app that meets the client's needs and stays within budget and on schedule.

The cost constraint is the budget, the time constraint is the deadline, and the scope constraint is the specific requirements for the mobile app. The project manager might encounter unexpected challenges and need to make adjustments to the budget or the deadline to keep the project on track while also making sure that the scope requirements are met.

Elements of Project Triangle

The project management triangle Agile has three elements: 

Scope

Scope refers to the particular deliverables, activities, and objectives that must be accomplished to meet the project's goals. It establishes the parameters of the project and what is included or omitted. It may, however, change due to changing needs or unexpected difficulties.

Time

The project management trianglerefers to ensuring that the project is completed within the scheduled time frame. This is accomplished by segregating the total timeline into distinct tasks and controlling the timing and execution of each one. Project managers must recognize tasks that are interdependent and must be finished in a specific order to efficiently manage time. 

Budget

It encompasses all the financial elements of a project, from materials and resources to external costs. To maintain the project on schedule, on budget, and in line with the client's expectations, cost management is essential. It is strongly related to time and scope since adjustments to one restriction may affect the other. Depending on the project, the cost might be fixed or variable. The project's success depends on how well the budget is managed. 

How to Map Iron Triangle to Agile?

In Agile, the traditional iron triangle is mapped to the Agile Triangle. The three constraints are considered the triple constraints in Agile golden triangle project management and must be balanced to ensure the success of the project. However, unlike traditional iron project management, where the constraints are considered fixed, in Agile, the constraints are considered to be flexible. 

The scope is considered to be flexible and is determined by the requirements of the client. The time constraint is also considered flexible and is determined by the sprints or iterations. The budget constraint is considered fixed, but it can be adjusted according to the project requirements. 

In a nutshell, Agile methodology maps the traditional iron triangle to the Agile Triangle, where the constraints are considered to be flexible and responsive to change. This approach allows for more flexibility, collaboration, and rapid iteration in the project management process, making it more suitable for projects that are uncertain, complex, and rapidly changing. 

Vertices of Agile Golden Triangle

The Agile project management triangle represents the three main factors that must be balanced in a project. These three vertices of the triangle are: 

Product Owner

They are responsible for defining and prioritizing product features and ensuring that their teams are working on the most valuable features. They act as the primary point of contact between the development team and stakeholders and are responsible for the success of the product.

Scrum Master

They are in charge of facilitating the Scrum process. They make sure that the entire team is working under the guidelines of the Scrum framework. They are the team's guide, helping them work together efficiently and effectively. It also ensures that the team adheres to the Scrum values and principles.

Team

Teams are responsible for delivering product increments and completing sprints of work. They transform the product backlog into a releasable product increment. They are self-organizing and cross-functional. That means you have all the skills you need to get the job done independently. These three roles work together to balance scope, time, and cost constraints to deliver a successful product. 

Phases of Agile Project Management

The phases of agile project management are as follows: 

Envision Phase

The Envision phase is an important initial step in project management, particularly within an Agile Project Management (APM) framework. The goal of this phase is to establish a clear and compelling vision for the project, which should focus on the needs of the customers and the people involved in the project.  

The Envision phase includes several key tasks, such as defining the scope of the project, identifying key stakeholders, determining project objectives and quality objectives, and planning how the team will work together to deliver the project successfully. Overall, the Envision phase helps to set the foundation for the project and increases the chances of its success 

Speculate Phase

The Speculate phase is the next step in the Agile Project Management (APM) framework. It involves translating the product vision into a backlog of requirements, and an overall approach to meet these requirements is established. The team also presents a high-level release plan for the product. 

This phase deals with creating a feature list of the final product and how the team will work to achieve it. The team gives priority to certain tasks over others and decides on the way to maintain the quality of the final project deliverable.  

Explore Phase

The explore phase is an important step in the Agile Project Management (APM) framework. It is the phase where the team begins to understand the project requirements and identifies the approach that will be used to deliver the project. 

 The activities in this phase include: 

1. Conducting Stakeholder Analysis: To identify the key stakeholders in the project and understand their needs, expectations, and priorities. 
2. Defining Project Scope: Establishing a clear and comprehensive understanding of the project's objectives, deliverables, and boundaries. 
3. Investigating and Analyzing: This involves researching, gathering, and analyzing data and information relevant to the project, such as market trends and competitor analysis. 
4. Identifying Potential Solutions: Brainstorming and evaluating different approaches for solutions to deliver the project and selecting the most viable option. 

Adapt Phase

The team must have the ability to adapt, which will enable them to function productively in a wide range of situations. 

Depending on the needs and client feedback, adaptation may entail adjusting the project approach, setting, and so on. Customer feedback must be collected regularly to verify that the project meets the requirements of the end user. 

Close Phase

Closing an agile golden triangle project involves resolving open issues, reviewing the project, celebrating, and moving on. The completion phase follows the completion of the last project iteration. Again, feedback is essential. In the end, the team summarizes the lessons learned during the project and makes them available for future engagements. 

Agile Triangle vs Iron Triangle

Parameter	Agile Triangle	Iron Triangle
Vertices	Value  Quality  Constraints	Scope  Cost  Schedule
Process Complexity	A more adaptable and flexible process is followed since “value” is given foremost importance.	A more rigid process approach is taken since quality depends on the scope, cost, and schedule.
Priority	Customer Feedback is prioritized over strictly following the process	Process, and tools are given the utmost priority.
Approach	Through iterations, the agile golden triangle project management approach anticipates uncertainty and responds proactively and appropriately.	Uncertainty is unacceptable as changes are not expected in the traditional iron triangle approach.

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Why Use Traditional Iron Triangle in Agile?

The need for using the traditional iron triangle in agile development is to provide a framework for balancing the different constraints of a project, such as time, scope, and cost. The iron triangle can be used to help teams make trade-offs and understand the impact of changes to one constraint on the others. The iron triangle also helps teams to be transparent about their constraints and make realistic commitments to stakeholders. 

Quality

Quality is an essential aspect of agile development and is included in the agile golden triangle project, along with the scope, time, and cost. 

Quality is a key component in the importance of the project management triangle. Agile development methods prioritize flexibility and adaptability, allowing teams to respond to changes and deliver value to customers. 

Benefits

1. Balancing Constraints: This helps provide a framework for teams to balance the different constraints of a project, such as time, scope, and cost.  
2. Setting Realistic Commitments: Teams can set realistic commitments to stakeholders and be transparent about their constraints. 
3. Making Informed Decisions: It helps you understand how changing one constraint affects other constraints, allowing your team to make informed decisions about how to proceed with the project. 
4. Improving Efficiency: By using the iron triangle, teams can improve their efficiency by being transparent about their constraints and making informed decisions. 

Risks

Risks are associated with using the Iron Triangle framework with Agile and include: 

1. Rigidity: The iron triangle framework may not align well with Agile’s flexibility and can cause delays and increased costs when trying to make changes to one constraint without impacting the others. 
2. Lack of Focus on Quality: The traditional iron triangle does not emphasize quality, whereas in Agile management, quality is a crucial component, so the iron triangle may not capture the importance of delivering a high-quality product. 
3. Loss of Focus: When used in an Agile context, the traditional iron triangle may lose focus on risk management, which can lead to potential issues being overlooked and not addressed promptly. 
4. Promotes Short-term Thinking: It can promote short-term thinking as it primarily focuses on delivering within the constraints. This can lead to a lack of consideration for long-term value. The teams may prioritize meeting the constraints over the long-term success of the project. 

Conclusion

The traditional iron triangle of project management, including scope, time, and cost, is often used in waterfall development. However, in Agile development, the iron triangle is replaced by the Agile triangle of value, constraints, and quality. 

Utilizing the Agile golden triangle project management can help teams improve efficiency, build trust and transparency among stakeholders, identify risks, and make informed decisions. Teams should consider gaining an understanding of the importance of the project management triangle agile framework and incorporate it into their development process for optimal results.  

The Agile golden triangle project emphasizes the importance of delivering quality products as well as completing projects within specific time frames and budgets. It provides teams with a framework for balancing various project constraints and making tradeoffs between scope, time, and quality. Using the Agile golden triangle project ensures that your team delivers quality products that meet the needs and desires of your customers. Go for KnowledgeHut best Project Management certifications and stay ahead of the mass.