Time Is Money: The True Cost Of Running Late [Infographic]

So there you are, about to start a new project, and the prognosis is good for a timely completion.  Everyone involved is positive and thinking it’s going to be great fun just to get started.  You have carefully planned everything, everything except a delay.  As time progresses, you start seeing things that point in a disturbing direction.  Your carefully planned project will most likely run late.  Why?  Well, that’s the thing, and it’s not really clear.  It’s the collectively embraced mantra “It doesn’t matter if I take one day off here and there, someone else will pull together that lost time” that really messed everything up.  You might not think it now, but those thoughts are about to cost you, and it won’t be cheap.

Liquid Planner put together a pretty interesting infographic that showcases the truth about what your untimely slacking might cost you if you’re not careful.  The examples portrayed in this infographic are of course extreme, but they are a good measurement of what could happen.  Bring it down a level, and you’ll start seeing that your money is literally pouring out of your pockets.

The trick is really to make sure that you stick to your routines, stay focused on the goal, and make sure that everyone else does that as well.  After all, if you’re the one that is running the project, you are the one responsible for the delay.  Good planning, strict responsibilities and a well executed plan is a key to success without losing too much money.  So, keep your eyes on the ball and the money will stay still in your pockets.