Dialogue with a client/prospective client on this topic that illustrates the differences.
Can Do WebSite Chat, External
Hi. Does the work breakdown structure create the magic triangle?
Can Do (Thomas Schlereth):
You asked whether the magic triangle is created by the work breakdown structure (WBS).
The answer is: No.
The magic triangle shows the conflicting goals of every project. Usually, the conflict is between cost, time and quality. Project management tries to fulfil all objectives at the same time.
The WBS is the process structure, i.e. when is what done by whom.
Attached is a picture of what a magic triangle looks like in the Can Do software:
Can Do WebSite Chat, External:
Hi, thanks for your quick reply.
But the PSP with the magic triangle is a foundation in PM and therefore for successful projects, isn't it?
The PSP provides structure and planning. The magic triangle wants to keep the three components in balance and pursue the respective goals of each of them; if the goals conflict, there is an imbalance and this will affect the success of the project. But the goals are also represented to some extent in the WBS through the schedule, milestones, etc., aren't they?
Can Do (Thomas Schlereth):
It is true that the (sub)objectives of the project are mapped in milestones. The magic triangle is rather general. Every decision made by the project management will be in favour of one of the triangle's objectives and to the detriment of another.