Quality, Speed, Cost

Covey (2006, p. 197) also says, "In most circumstances, it's wise to look at three-variables--quality, speed, and cost--and realize that you can usually pick any two, but not all three." What he is saying is:

First, quality and cost are positively related. Increase one and the other goes up too. Decrease cost and quality goes down. With the understanding that if you increase cost, quality doesn't necessarily go up.

Second, quality and speed are negatively related: increase on and the other decreases. Higher quality usually takes longer; lower quality can be had faster.

Third, speed and cost are negatively related: one goes up the other down, one goes down the other up. Lower cost can be had faster; higher speed means lower cost usually.

This is not always true in every situation, but Covey gives us a language in which we can talk about these three key variables.

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