Good, fast or cheap – Pick two

About a decade ago, I was working on a web project with video editor and producer Bruce Feagle, when he said something that struck me like a bolt of lighting:

“You can have good, fast, or cheap.  But you can only pick two”
Over the years, I have quoted that line to clients, vendors, employees and business partners.  Sometimes I’ve had to choose good and cheap, but it wasn’t fast. Other times I’ve had to explain to a client that he could have something good and fast, but it won’t be cheap.
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Whether it’s producing infomercials, creating web sites, or crafting multi-million dollar marketing campaigns, I’ve seen rare exception where you didn’t have to pick two out of the three.  Heck, some days I’d be happy just to have any ONE of the three qualities delivered to me by a service or product supplier.

Yesterday, one of my social media connections Issamar Ginzberg posted a cool graphic he had designed which clearly articulates this concept.  He gave me permission to share:

This graphic is Issamar’s variation of the “Project Triangle” aka “Project Management Triangle”. Click to read more in Wikipedia.

So what do you think?  Do you agree with the Good / Fast / Cheap philosophy?

Why or why not?
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Please leave your thoughts and experiences with Good / Fast / Cheap below in the comments section.