September 10, 2009: Time is money
Category: Decision-making
Posted by: David M Patt
Here are a few examples of misguided decision-makers who think they are saving money by their actions. They aren't:
1. The Executive Director who, accompanied by another staff person, drives downtown to deliver an important package. The drive takes fifteen minutes, he circles the block while the staff person runs up the elevator to drop off the package, and they spend another fifteen minutes getting back to the office.
Money saved: $12.00 messenger fee.
Money spent: 3/4 hour of the Executive Director and staff person's time (that's a lot more than $12.00).
2. The Education Director who spends an entire day driving across the metropolitan area to drop off materials for educational sessions at three locations.
Money saved: $135.00 in messenger fees.
Money spent: 9 hours of the Education Director's time (that's more than $135.00). Plus, she left her wallet at the last stop, found the door locked when she returned to retrieve it, and had to wait for someone to show up and let her in.
3. The Executive Director who stood over the copier for nearly 3 3/4 hours reproducing four flyers that would be included in a 1,000 piece mailing, then driving them to the mail house where they would be folded, stuffed, and mailed.
Money saved: $200.00 - the difference between copying in the office and copying at FedExKinko's plus the $10.00 charge for delivery to the mail house (cheaper than a messenger).
Money spent: 5 hours of the Executive Director's time (worth more than $210.00), when he could have been doing Executive Director work.
Your time is not free.
1. The Executive Director who, accompanied by another staff person, drives downtown to deliver an important package. The drive takes fifteen minutes, he circles the block while the staff person runs up the elevator to drop off the package, and they spend another fifteen minutes getting back to the office.
Money saved: $12.00 messenger fee.
Money spent: 3/4 hour of the Executive Director and staff person's time (that's a lot more than $12.00).
2. The Education Director who spends an entire day driving across the metropolitan area to drop off materials for educational sessions at three locations.
Money saved: $135.00 in messenger fees.
Money spent: 9 hours of the Education Director's time (that's more than $135.00). Plus, she left her wallet at the last stop, found the door locked when she returned to retrieve it, and had to wait for someone to show up and let her in.
3. The Executive Director who stood over the copier for nearly 3 3/4 hours reproducing four flyers that would be included in a 1,000 piece mailing, then driving them to the mail house where they would be folded, stuffed, and mailed.
Money saved: $200.00 - the difference between copying in the office and copying at FedExKinko's plus the $10.00 charge for delivery to the mail house (cheaper than a messenger).
Money spent: 5 hours of the Executive Director's time (worth more than $210.00), when he could have been doing Executive Director work.
Your time is not free.
Cynthia D-Amour wrote: