Fast, Cheap, or Good: Pick Two

Time, money, quality: the three most basic factors in exhibition project delivery.

But these three are not independent — they are interdependent and interlocked.

Given normal time and normal money, we can deliver normal quality.

True.

So what happens when one factor isn't normal? What if we’re asked to deliver faster, or cheaper, or better than normal? What if we’re asked to do two factors better than normal? All three? When should we say no?

There's an old project manager’s rule of thumb to help with that. It's worth a look, even if you think you know it:

Fast, cheap, or good: pick two.

Fast and cheap? OK, but it won’t be good.
Fast and good? OK, but it won't be cheap.
Cheap and good? OK, but it won't be fast.

Fast, cheap and good? Impossible. Pick two.

This rule is so unbreakable, it’s called the “Iron Triangle” of project management. (Watch Phil & Monique apply the Iron Triangle to the coffee at their usual hangout.)

Here’s the thing:
The next time you’re asked to deliver an exhibition project faster, cheaper, better — or any combination of those — dust off this old rule of thumb:

Fast, cheap or good: pick two.

Warmly,
Jonathan