345. Better. Cheaper. Faster. Pick Two.
Key Takeaways
- Every project — and every decision — comes with trade-offs. You can’t have it better, cheaper, and faster all at once. Choose two.
- The Project Management Triangle teaches that:
- – Fast + Cheap = Low quality
- – Cheap + Great = Slow
- – Fast + Great = Expensive
- Leaders who refuse to accept these trade-offs set their teams up for failure, frustration, and burnout.
- Great leaders don’t avoid hard choices — they own them, explain them, and stick with them.
Actionable Insights
- Acknowledge the trade-off: Be explicit about which two values (speed, cost, quality) matter most for each project.
- Communicate your choice: Tell your team why you’ve prioritized the two and what that means for their output.
- Don’t move the goalposts: Once you choose, don’t criticize results for not delivering the third.
- Empower with clarity: Trade-offs done right drive focus, accountability, and realistic success.
Leadership Challenge
- Identify one big decision you’ve been avoiding because no option feels perfect.