The main point of project management is the concept of an “Iron Triangle” where you can do trade-off analysis between cost, schedule, and performance. Research this concept online.
Then, address the following:
Provide a realistic example of a trade-off, where one of these three items is optimized at the detriment of the other two items.
Explain why you selected the one item to optimize.
Explain how you will work to mitigate adverse impact from the reduction in the other two areas of the Iron Triangle.