Good, Fast, Cheap Balancing Software Project Trade-Offs
AI Summary
The video titled “Good, Fast, Cheap: Balancing Software Project Trade-Offs” by IBM Technology explores the classic project management principle known as the ‘Good Fast Cheap’ rule. Jeff Crume explains that in software development projects, you can only optimize for two out of the three factors: good quality, fast delivery, and cheap cost. The video uses the example of coding projects to illustrate the trade-offs between increasing headcount, time, and speed. Increasing headcount might improve quality and speed but increases cost. Giving more time can improve quality and reduce speed, while rushing projects can make them fast and cheap but at the cost of quality. The video emphasizes this as an immutable law of project management and encourages viewers to understand and communicate these trade-offs for better project outcomes.