Ben Casnocha in his book My Startup Life makes the very good point that you can only have two out of three of the above, and it’s a good idea to pick which ones are important before you start.
In NPD, it’s complicated by the fact that cheap and good for the project aren’t necessarily the same for the product. So we have what I’m hereby dubbing the NPD hourglass. Pick two for each triangle but if you pick “fast” you need to pick it for both. A cheap fast project can give you a cheap product or a good product, not both. On the other hand a cheap good project can give you a cheap good product, but it won’t be fast.
