Hidden Costs

There is a cost to every decision. If it were only measured by the money that we will spend on a decision, then it could be easy, but money isn’t the only factor. Money, time, effort, and personnel are all resources that should be factored into a costly decision. If we go for the cheapest option, we often get what we pay for. Cheap saves money in the short-term, but it often discounts the quality and costs us in the future. Cheap solutions can waste valuable time because we are often really bad at predicting actual outcomes. There is a chance we will have to pay later, but since it’s only a chance and not guaranteed, we tend to take that risk. Cheap often requires future work-arounds that steal bandwidth and attention from the team that could have been used elsewhere. Saving a little money here may mean limiting the user friendliness of a system. Also, while great teammates are already hard to find, teams that cut corners often narrow that field further because skimping on function results in the need for a specific expert. It’s important to understand that when we fight for a discount, we almost always get what we pay for.

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