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The "triangle" is an entertaining rule of thumb. No useful metrics.
It is also a vague non-transitive paradox. :-)
Fast is [sometimes] better than cheap; see what Fed Ex does.
Cheap is [sometimes] better than good; spoofed in the movie _Be Kind Rewind_
Good is [sometimes] better than fast; much food preparation, the gestation of children...
The paradox: if good < cheap < fast, is fast better than good?
See Malcolm Gladwell's _Blink_ on how much harder it is to compare three things...
As Lauren or Dori said, it's much better to have a process.
I would add that having leadership, to tweak that process as needed, is also essential.
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