Quality, Time and Money
Quality, Time and Money are the three main factors to be considered in any project management decisions. These are usually called as triple constraint or project management triangle.
As you can clearly see from the above image you can pick any two but you cannot have all three. A good leader will always try to priorities on these three factors for any project, it can never be ‘it depends on ….’
People in general will always ask for all the three, its the pure responsibility of that lead/manager in helping them to understand that they can have only two but not all three. But a smart leader will always focus on Quality and asks for more time and more money, the money in this case is resources needed to deliver the project.
Quality = Time x Money
You can still ask why more time and more money, as per the above triangle of constraints with more money we can still deliver in less time with good quality. But in reality this will not get applied on work which mainly focuses on creativity and innovation.
Sacrificing quality and delivering the project with low cost and less time is not the correct solution, in the long run the bad quality will suck your time and money anyway. Investing time in quality will always save money.
