Introduction:
We’ve all come across it more than once… That project where the client wants something yesterday, that is better than anything before, and is cheaper than anything out there… That’s the Fast-Good-Cheap paradigm.
Description of the Indicator:
This is less of an indicator and more of a framing of situation. However you can use this to drive towards a project end. Fast-Good but not cheap (Apple); Fast-Cheap but not good (McDonalds); Good-Cheap but not fast (Make your own …).
How to read it:
There is no real way to read it (given that it’s a paradigm). However you can easily use it to evaluate a project and see if there are any red flags.
Notes:
- Can you get Fast-Good-Cheap at the same time?
There are few circumstances where you can get fast/good/cheap all at the same time. What are examples???
- In addition, there is a twist, and that this indicator can be used not just to describe a project, but also to market a product. For example, a new product could not necessarily be faster or cheaper, but so much better (“Good”) than any other products other, that having that one dimension becomes the marketing focus for the product. (O course having two is even better).
Usage:
I understand you need this fast good & cheap, but we can only provide 2 of the 3 options.