1. early, with no risk of being late
finished the project in good time
If you are 'in good time' for something, it means you are punctual or early and in no danger of being late. If you 'make good time' you arrive somewhere earlier than you had anticipated.
2. eventually, when the moment is right
don't worry, it will happen in good time
The expression 'all in good time' means 'in due course' or 'without haste'. If you say something will happen 'in good time' you mean that it will happen eventually in its own time.