What is the relationship between cost, schedule, and scope in the quality triangle of project management?

In project management, the quality triangle consists of cost, schedule, and scope. These three elements are interconnected, meaning that changes in one area can impact the others. For example, increasing the scope of a project may lead to higher costs and a longer schedule. Conversely, reducing costs may require cutting back on the scope or extending the schedule. Balancing these factors is crucial for achieving project quality and success.