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Currently, Extreme Programming, Scrum, and Kanban are the three most commonly used methods in agile software development (ASD) projects. Each method has different practices and shares a set of agile principles, where quality, time, and cost are the three project performance indicators. Companies may focus on and prioritize certain indicators based on industry or project differences. Therefore, choosing appropriate practices that fit the specific performance indicator is an important decision for organizations. This study utilizes a hierarchical consensus model to examine the correlation between four agile practice groups, six agile principle categories, and three project performance indicators. The modified Delphi method was applied to collect the pairwise comparison data, and the analytic hierarchy process was utilized to analyze the data. A Delphi panel of experts from both academia and industry was established to reach a consensus on the correlation priority using pairwise comparison matrices. The principle of cooperation between customer and developer is considered the most important principle related to project time and cost performance, while the technical excellence principle is the most important principle related to project quality performance. These results can assist organizations and practitioners in adopting the ASD practices that will best enhance their competitive advantage.