Breaking the Triple Constraint – Better Profit Margins & Consumer Satisfaction
In any business process there is a terminology called the “Triple Constraint," which means that between T ime , C ost , and Q uality/Scope , you can only improve two out of the three, and always at the expense of the third. The triple constraint is sometimes referred to as the Project Management Triangle or the Iron Triangle . Industries are developing innovation process steps and use of automation and intelligence tools and techniques to optimize these three parameters in order to achieve the best combination. Use of various programing tools such as VB, Python, R, etc., along with Artificial Intelligence algorithm and concepts could save lots of time and cost in processes/steps does not require human thinking and analysis. Even complex codes can be written to do the regular stuffs and save time and mitigate human errors.