No, you can trade off between time, cost, and functionality - that's not pick two (or one) and to hell with the other(s), it's take a rational balance between them. One reason projects screw up is that someone somewhere assumes they can discard one of those three fundamentals and have the other two: but you can't - as soon as you discard any one of them, you guarantee acheiving none.

Or of course you can adopt a project methodology which has a planning phase, a design phase, an implementation phase, and a delivery phase, which are to happen in that order with no feedback from any stage to its predecesors; that comes pretty close to guaranteeing failure - in fact just having no feedback from design to planning is usually enough on its own to guarantee failure. Yet some of the most widely mandated project management ideologies in the world have that absence of essential feedback.