Project management is one of today’s fastest growing careers. The Project Management Institute predicts that employers will need 88 million people in project management roles by 2027.
The challenge? Businesses waste $97 million for every $1 billion invested in projects. These numbers suggest that many project teams don’t get the basics right. And with millions of people projected to join the industry, the likelihood of adopting poor project management practices increases.
Just like you can’t run before you can walk, you can’t complete big projects without nailing the basics. Many project managers call these fundamentals-time, cost, and scope-the “triple constraints” of project management. They’re ubiquitous enough that almost every project team must manage them.
But once you know what a problem is, you need a solution. This is where project management software can serve as your secret weapon.
It’s unclear where the phrase “triple constraints of project management” comes from. However, research shows that project managers have referenced these constraints (which are also known as the project management triangle or the iron triangle) since at least the 1940s.