There’s a well-known project management challenge: “fast, good, cheap: pick two.” It succinctly captures the dilemma that project managers face as they try to achieve their goals at the right speed, price, and quality. In this triangle of competing priorities, it seems impossible to optimize all three at the same time, leaving the project manager with hard choices to make. They know:
To get something quickly of high quality, it will not be cheap
To get something quickly and cheaply, it will not be high quality
To get something cheaply that is high quality, it will not be quick
via Speed. Price. Quality. Are Your Recruiters Sacrificing One of the Above? – ERE.net.