In the classic view of project management, the magic triangle describes the interplay between the three factors time – cost – performance. Between these three interconnected cornerstones, the project outcome is balanced; change one of the factors and it will have an impact on the other two. The magic triangle thus helps to describe the classic project parameters in direct relation to each other. Examples: I can deliver a result in the expected quality earlier, but then the budget increases. Or: If we get more time for the project, we can implement it within the agreed budget framework with a good quality.
In transformation projects, the classic project management triangle simply helps to make these interdependencies clear at the project management level or for the executing team. For example, it can act as an argumentative support in the direction of management and also strengthen the back of those working operationally to focus on the essentials. Since digital projects in particular often take place between complementary areas (for example, IT – sales; technical perspective – business perspective), adding a third of the classic factors in the project management triangle is a good trick to illustrate this complementary interplay. On the one hand, the strategic focus of the project can be worked out more clearly, and on the other hand, a very comprehensible model is created to mediate between the different perspectives.