FINANCIAL_JUSTIFICATIONS: Time, Talent, and Treasure?

2015-Feb-17

http://www.idea-sandbox.com/blog/making-better-decisions/

Making Better Decisions Considering Time, Talent & Treasure
CRAFTED  13 FEBRUARY 2015

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Is this worth our Time, Talent, and Treasure? Below are suggested questions to ask about the project, plan, or idea…

Time

Is it worth the time investment?
Are there better/more effective things we could be doing with our time?
Does the effort provide a worthwhile return?

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I personally like: Attention, Effort, and Resources.

But it’s very similar.

I like “attention” as opposed to just “time”. 

We all all have a both a limited attention span and a limited amout of attention we can allocate.

It’s a qualitative and quantitative measure of the Leadership’s most limited resource.

If the decision maker can delegate an “above the waterline” unit of work without spending much attention on it, then that’s a big win.

But how many Leaders don’t consider that amount of “attention” that getting involved in something will take.

It’s more than just “time management”; it’s opportunity portfolio management.

Using “financial justifications” is one way to “focus on first things first”.

Rarely done before the “sunk costs” being to pile up. The financial equivalent of a “body count”.

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