Consider these two other examples and where they sit within the Iron Triangle.

Project Orion: Kodak's Advantix photographic system was developed in the mid-1990s and was reputedly very well managed from a project management perspective - the Project Management Institute even recognised it as the 1997 International Project of the Year. Bloomsberg Businessweek also selected the system as one of the best new products of 1996. However, the Advantix project did not help Kodak's falling stock price, in part because it failed to anticipate the accelerating switch to digital photography.

Mars Pathfinder: NASA had their budgets cut significantly in the early '90s and support for expensive space exploration projects was waning. NASA's reputation was also strained by recent high-profile, expensive project failures. The new NASA Administrator determined that the United States must continue to do space science missions despite the government-wide belt tightening that had squeezed the NASA budget. A new mantra of 'Faster, Better, Cheaper' meant increasing the number of planetary missions but spending less than $150 million (US) on each mission and taking no longer than 36 months for implementation. Projects that took longer or cost more would be cancelled.

 

Discuss how these two projects sit within the iron triangle?

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The Iron Triangle is a concept in project management that represents the interdependence of three key factors scope time and cost The successful compl... View the full answer