What is most important in solving this problem – Quality, Speed or Cost?
Most of us know the 3-points of any project: quality, speed, and cost, and the fact that it is impossible to have all three.
Given the reality of today’s training environment in which budgets are slashed and time allowed for training has been reduced, the question: What is most important in solving this problem, quality speed or cost, is critical to ensure success with any training endeavor.
If quality is most important, then your project will take time and undoubtedly will cost “more” money than a project that doesn’t have quality as its most important factor. If time (project due by the end of this month) is the most important factor, then quality will take a back seat and higher costs will probably prevail in order to get more people or services involved in the creation of the training.
When designing and developing new training for your orginization, this is a very useful question to ask because it helps you to know where to assign your resources and/or it helps you to know what resources to ask for. So if time is the most important factor, you may want to request an extra pair of hands such as a consultant or a temporary service. If quality is the most important factor, you may want to price the project and then request an extra 25% in funding. What is most important to solving this problem: quality, speed or cost is a critical business question which will help you to create a better training product and outcome.