Faster, Cheaper, Better

"Faster, cheaper, better. Is it possible to deliver project results that contain all three attributes?
We all know that these are summary terms meant to qualify, not describe, the end result, so when a project sponsor asks you to deliver something “faster, cheaper and better,” what does it really mean? It takes a good discovery process to clarify the needs behind this hazy, passé statement.

The triple constraints of project management — scope, schedule and cost — are three aspects of all projects that are interrelated and influence each other. If scope increases, either schedule will extend, or greater cost will be incurred because you need additional resources. This is why the project manager must understand each requirement for “better, faster, cheaper” results, and should negotiate their relative importance to the project in order for expectations to be met.
In the requirements discovery process, the initial scope statement will be modified to clarify intent around the desired outcomes for quality, schedule and cost. This article is intended to provide a framework for inquiry that leads to successful outcomes that meet the real needs of the project. This framework uses the context of “better, faster, cheaper” to call out non-obvious contradictions in requirements."

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