Made with
ConceptDraw
DIAGRAM 14

Pyramid Diagram

Project Triangle

Those triangles within any technical analysis are known to be the chart patterns that can be commonly found in the price charts of the financially traded assets, such as stocks, futures, bonds, etc. The pattern is known to be deriving its name from the fact that it is characterized by some contraction in a price range being the converged trend lines, giving it a triangular shape.

Triangle patterns are known to be broken down into three different categories: the ascending triangle, the symmetrical triangle and the descending triangle. While the shape of the triangle is significant, the direction of more importance that the market moves when it breaks out of the triangle. While the triangles are known to be sometimes reversing its patterns — meaning reversing the prior trend — they can be normally seen as the continuation patterns meaning the continuations of the prior trends.

The Project Management Triangle is one of the most popular and widely used drawings to make by using the ConceptDraw DIAGRAM diagramming and drawing application that enables to edit the already existing, the pre-made templated of the triangle charts from the Pyramid Diagrams solution of ConceptDraw STORE application – another very useful product of CS Odessa that was developed especially for a reason of providing all the ConceptDraw DIAGRAM users with the so much needed stencil libraries full of the design symbols as well as the professionally created layouts.

Pyramid Diagram

Example 1. Pyramid Diagram Solution in ConceptDraw STORE

Known to be also called as the Triple Constraint, "Project Triangle" and Iron Triangle, a triangle chart that is still most commonly known to be called as a “Project Management Triangle”, is a well-known model of the constraints within a project management activity. For a reason of its origins being unclear, such triangle chart has been used since the 1950s at least, contending that the quality of work should be constrained by the project's budget, the scope (meaning the features) and the deadlines.

Pyramid Diagram *

Example 2. Pyramid Diagram. Project management triangle chart

Any project manager can trade between the previously mentioned constraints within a triangle chart. Any changes in one of the constraints may lead to the other changes appearing in the other in order to compensate the quality that may suffer. Thus, any project can be completed much faster by cutting its scope or increasing its budget. That is why increasing the scope may require the equivalent increases in both schedule and budget. Cutting a part of a budget without adjusting either the scope or the schedule may lead to lowering the quality.

Although, any trading between different constraints may sometimes not be possible. As an example, any project manager may suggest throwing money or/and at a fully staffed project which may simply slow it down. Also, in the poorly run projects, it may be often possible to improve schedule, scope or budget, without adversely affecting the quality itself.

The Project Management Triangle can be also used for analyzing different projects. Being misused for defining the success at a reasonable quality within the established budget and schedule, it still may be insufficient as a model of a project success omitting the crucial dimensions of success, such as an impact on the stakeholders, user satisfaction and learning.

The time constraint can refer to the amount of all the time that is available for completing some a project. The cost constraint can refer to the budgeted amount that is known to be available for the project. The scope constraint can refer to what has to be done in order to produce some project's end result. All three constraints can be often competing ones as the increased scope usually mean the increased cost and increased time, a tight time constraint may mean the increased costs as well as the reduced scope, and not enough budget may lead to increasing the time and reducing the scope at the same time.

The discipline of any project management is known to be providing the needed techniques and tools that enable all the members of the project team to organize their work in order to meet the mentioned constraints. There is another approach that can be used within a project management: to consider all three constraints to be finance, human resources and time.

Thus, in case some job has to be done in a shorter time, then surely more people may be involved in solving some particular problem, but in return it will raise the cost of the project overall. But, also, it is still possible to do this task quicker by reducing the costs elsewhere in the project by some equal amount.

As a project management graphic aid, making a triangle can help you show both resources and technical objective, as well as time as the sides of one triangle, instead of its corners. The distance between the inner and outer triangles can illustrate the contingency or the hedge for each of the mentioned three elements.

Pyramid Diagram

Example 2. Pyramid Diagram in ConceptDraw DIAGRAM

The real value of any project triangle that can be always created with the help of ConceptDraw DIAGRAM diagramming and drawing software is to show the complexity that is known to be present in any of the projects. The plane area of the triangle is the one representing the nearly infinite variations of different priorities that can exist between the already described three competing values. Knowing the limitless variety, using this graphic aid can facilitate making much better project decisions as well as project planning, ensuring the alignment among all the team members as well as the project owners.

A term “scope” within the project management might need the requirements that were previously specified for achieving some that much-needed end result. The overall definition of what the project is expected to accomplish as well as some specific description of what the end result should be may lead to the needed results. And using the right drawing tool such as a ConceptDraw DIAGRAM one may guarantee the needed outcome.



See more Pyramid Diagram:







TEN RELATED HOW TO's:

Business Processes description with ConceptDraw DIAGRAM  →

Business Processes description with ConceptDraw. Business-processes it allows to describe functional blocks, for example production and marketing. ConceptDraw lets creation of business processes description using IDEF0 and IDEF2 methods.Business Processes description with ConceptDraw DIAGRAM  *
Picture: Business Processes description with ConceptDraw DIAGRAM
Related Solution:

ConceptDraw DIAGRAM The best Business Drawing Software →

ConceptDraw DIAGRAM is new software for business and technical drawing. Powerful business drawing tools, extensive libraries with pre-drawn shapes, free samples of business drawings, technical drawings and flowcharts, support of many graphic formats enable users to visually develop their business drawings charts and diagrams in any combination of drawings, diagrams and flow charts.ConceptDraw DIAGRAM The best Business Drawing Software *
Picture: ConceptDraw DIAGRAM The best Business Drawing Software
Related Solution:

Flowchart Definition →

Acquaintance with flowcharting starts from getting into basic terms. First of all, flowchart definition is quite clear – a flowchart is a graphical representation of a process or an algorithm made of special symbols. Secondly, flowcharting is an irreplaceable tool for IT specialists, project managers, and anyone who wants a clear understanding of any imaginable process.Flowchart Definition *
Picture: Flowchart Definition
Related Solution:

Property Management Examples →

This sample was created in ConceptDraw DIAGRAM diagramming and vector drawing software using the Seven Management and Planning Tools Solution from the Business Productivity area of ConceptDraw Solution Park. This sample shows the Property Management matrix, the ideas are ordered in regards to importance and frequency. This matrix gives the ability to turn the theory into quantifiable data.Property Management Examples *
Picture: Property Management Examples
Related Solution:

How To Make the Right Decision in Projects →

A key point of conference success is the ability to see slides in real time, and hold documented discussions during the meeting. Remote Presentation for Skype is a new solution allows real-time presenting that benefits work groups who need collaborate by web meetings.How To Make the Right Decision in  Projects *
Picture: How To Make the Right Decision in Projects
Related Solution:

Flow Chart Symbols →

If you need to describe some process, diagramming is a perfect tool for almost any imaginable purpose. The set of the most commonly used flow charts symbols is quite wide and includes symbols for operations, processes, data inputs and outputs. You can see the full list of all the symbols used for flowcharting in Flowcharts solution from Diagrams area in ConceptDraw Solution Park. A flow chart is often used for visual representation of a sequential process flow. The flowchart approach to any process is to divide it into some sequential actions. What makes a flow chart so popular and clear to make out is the set of standard flowchart symbols that has the same reading independently from processes described with their applying. The current drawing represents the vector library containing the pack of standard flowchart symbols. This library is supplied with ConceptDraw Flowcharts solution.Flow Chart Symbols *
Picture: Flow Chart Symbols
Related Solution:

How to draw Metro Map style infographics? Moscow, New York, Los Angeles, London →

The solution handles designs of any complexity, and the comprehensive library covers all key aspects of a transportation system. To further enhance your map design, there is the option to embed links, that can display station images or other relevant, important information. We have also included a set of samples in the solution, that show the possible real-world application — complex tube systems including the London Tube and New York City Subway show the level of detail possible when using the Metro Map Solution.How to draw Metro Map style infographics
Picture: How to draw Metro Map style infographics? Moscow, New York, Los Angeles, London
Related Solution:
ConceptDraw
DIAGRAM 14