Time - Cost - Quality: Pick Two
In any situation where something is being created, there are moments when you must measure, weigh and balance more than one element. When baking, for example, the end result will be affected dramatically based on how you favor that balance. An extra pinch of flour, say, will slow the evaporation of the water, which will, in turn, keep the cookies softer for longer. But they will also be thicker. The point here is that favoring the balance in one way will always have an impact on the final product, one way or the other.
In video production, a similar relationship exists. There are many elements to production, but let’s look at three of the major elements: the time to produce a video, the cost of producing that video, and the overall quality of the completed video. None of these elements exist in a vacuum. Each element has a direct affect on the other two. Favoring the balance toward any one element will adjust another. These three elements, in particular, create the Time/Cost/Quality Triangle. And, unlike baking cookies, you can only have two elements in your favor at any time.
The relationship works this way: If your budget is tight and rigid, but you want the highest quality you can get, you must be ready for the project to take some time. If you want a premium quality product, and you need it next week, you should know that it will cost more money. And of course, if you don’t have much of a budget and you need the product turned around quickly, you should expect that the quality of the end product will suffer accordingly.
One Floor Up takes special care in managing projects in order to keep the Time/Cost/Quality Triangle transparent, and to keep our clients well aware of what to expect throughout the lifecycle of their project. Additionally, One Floor Up helps our clients to understand how one element affects the other, and will consult with them as to the relationship of one element to another.
At One Floor Up, we take care to understand not only our client’s requests, but also their expectations. Not only are we focused on delivering a final product that meets their specifications, but also their experience throughout the production cycle, making sure that we are communicating, in full-disclosure, our progress.