How Much is Your Time Really Worth?  

 

Time is money, so many companies are constantly measuring and monitoring time in the interest of identifying and reducing wasted money.
 
Why is this so important? Because time is the only resource you spend whether you intend to or not.
 
However, there are still firms that don't equate their time with costs. Granted, it's difficult to quantify what time is worth.  However, if companies don't make any attempt, then it's easier to squander time and therefore, money.

For example, one major national company used to complete its projects about 3 weeks late and about 30% over-budget, on average. For a $2 million dollar project, that's $600,000 spent over budget. But how much did being late actually cost?  Contact us for a free calculator to find out.

A year after we delivered customized project management training to some of this company's IT staff and project managers in areas like estimating techniques, project execution, schedule control, and risk management, their average project completion times were reduced to about 1 week late and about 10% over-budget.
 
Considering that same $2 million dollar project, that would equate to a savings of $400,000 not including the time savings, which can far exceed dollar savings. And this company had over 20 projects every year ranging from $100K - $7M. This adds up to serious money.

The benefits to learning and implementing project management tools and techniques are clear: reduced time, costs, and risk, clarified scope, and improved quality and customer satisfaction.
 
Getting employees trained for a couple thousand dollars each can save your organization millions of dollars. Ask us how we can help you improve your project success, too.

 

 

Peru!  Tiffany just facilitated a successful 2-day project planning session for a mining company.   

 

When she finished she took a 3-day weekend and saw many Inca ruins including Machu Picchu. 

 

Communicating in a foreign language, eating different foods, and seeing how other people lived and live is the ultimate learning experience for Tiffany.   

 

What's yours?