I found a short page from the STC TCBOK about designing for print and digital and thought it was perfect because with today’s technology, most companies are either going digital, or have the resources to produce both, so they are designing for print pieces and digital.
The entry is entitled “Designing Information: Print to Digital” and can be found here: Designing Information: Print to Digital.
The basic concepts expressed is that there should be some conformity throughout both the print and digital versions, but you need to also make design decisions based on the medium through which you are using. For example, you can turn some static elements from the print piece into animations for the digital, or remove things completely to fit. When designing for digital (web), the proportions need to be considered about the layout because a printed piece is based on a grid, and the web uses columns of fixed width.
Though the page is short, it gets the point across that you will be designing slightly different for print and web, and there are some decisions to be made and factors to consider when designing for both.