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NEW IDEAS ABOUT OLD MODELS

Price x Quality x Deadline: Is it possible to balance all three?

>> In a hurry?

In the post, I compare the challenge of balancing price, quality, and deadlines in audiovisual projects to a tightrope walker riding a unicycle on a slackline. Often, people end up sacrificing one of these elements to ensure the other two, but I argue that it is possible to maintain all three in equilibrium through "project intelligence." This involves a detailed analysis of aspects such as scope, risks, resources, and sustainability, allowing for creative and strategic solutions that meet the client's needs without compromising quality. I highlight the importance of thinking outside the box and considering different approaches, such as collaborating with professionals from other fields, to optimize resources and ensure project success. Finally, I emphasize that even in the face of unforeseen events, a well-planned and creative structure can help overcome challenges and achieve satisfactory results.

 

Imagine a tightrope walker balancing several plates while riding a unicycle on a slackline. Now picture all of this happening high above a cliff!


This is how many people feel when trying to balance price, quality, and deadlines in a project. What often happens is that one of these elements is sacrificed to ensure the other two. In other words, a high-quality project at a good price might not be completed on time, while a project delivered on time with high quality often exceeds the budget.


But is it really impossible to balance all the plates?


In my years of working with commercial audiovisual projects, it seems I've become a magnet for challenges related to this. Creating something new and good with a tight budget and specified timeline.


To realize these highly complex projects, there is a fundamental element to consider: a tray that can be placed under all the plates so that none have to be sacrificed. This tray is project intelligence.


### What Does This Mean?


Generally, it means including a thorough analysis of all aspects involved in the project so that it becomes possible to find new answers to the same questions.


When the mind is accustomed to following known paths to reach a solution, it naturally stops perceiving possible alternatives, which may sometimes be closer than they appear. To break this vicious cycle, it’s necessary to explore different routes—what we often refer to as thinking outside the box. While this phrase may be clichéd, it can be quite useful in practice!


However, those who think that thinking outside the box is merely about being creative are mistaken. It is that, too. But creativity also requires strategy, discipline, and organization. After all, having fantastic ideas that are not feasible to execute is not helpful. Most of the time, simple ideas tend to be the most innovative.


### What Factors Should Be Considered to Think About a Project Intelligently?


There are countless factors, and each can be broken down further. This is why adding intelligence to the price x quality x deadline equation is fundamental. Without it, the calculation doesn't add up, and one of the plates will always end up falling.


Redefining scope, innovating resource utilization, and finding professionals from unconventional fields are just a few factors that can—and should—be analyzed. Let's explore some of them, and as a suggestion, if you have an ongoing or upcoming project, jot down each point and try to answer the corresponding questions (and add any others that arise):


### Scope


How much of the scope can be modified to ensure quality and reduce costs? Is it possible to anticipate or shorten any processes?


### Risk


What are the main threats to the project's success (both external and internal)? Which decisions carry a higher risk of jeopardizing everything? By mapping risks in advance, it becomes easier to detect when a threat is closer to materializing and take necessary measures in time.


### Resources


When we think about resources, we can refer to material, financial, and human resources. Considering all of them, we can ask which resources are worth investing more in and how much time they would save us. Is it possible to substitute any material resource with a similar, lower-cost alternative? How can we reallocate human resources to achieve greater effectiveness in processes, considering each team member's skills and preferences, or by finding professionals from different fields whose skills can add value to the project?


For example, in one of the most challenging projects I had, we needed to build six sets in a studio, and the budget was really incompatible with the amount of production. For projects requiring materials, along with labor and the necessary team size to develop the project on time, the costs initially seemed high. My solution was to choose an artist outside the advertising industry (but involved with the documentary's theme) who worked with set construction using recycled materials. Additionally, we agreed that all pieces produced would go into his collection, which encouraged him to invest a bit more in the construction without awkward discussions.


### Sustainability


What is the impact of this project on society in economic, environmental, and social terms? Could this affect its long-term success? How can we make the project more sustainable (often saving resources in the process)?


### Processes


What specific organizational structure will we need to apply to this project, and how can it alter the outcomes? Are outdated methods preventing you from working within a win-win agreement and achieving more effective execution?


### Method


Considering that there are agile, traditional, and hybrid project management methodologies—and all the others we can invent—what is the ideal method for this case? Correlating with all the other variables, what is the most effective method for ensuring that the project progresses satisfactorily within its realities, potentials, and limitations?


### Satisfaction


Thinking intelligently and strategically aims for the project's success and, consequently, customer satisfaction. Therefore, throughout all the stages, it’s essential to ask: in the way it is being structured, will the project meet expectations? How can we reconcile other variables with the client's expectations?


You know that the show must go on…


There is no 100% guarantee that any plate will remain balanced during a project. There are unforeseen events and factors beyond our control (such as a pandemic, for example) and many others that can catch us off guard.


However, when we structure a project with intelligence at the center of decisions, it is 100% guaranteed that we will find some solution—even if it ultimately means gluing a fallen plate back together or replacing it with a bowl.


The fact is that yes, it is possible to execute a quality project, on time, and at a good price, as long as we can maintain a 360° view of the process and think strategically about each stage, leaving room for creativity and innovation. This way, we can walk on tightropes and perhaps even with our eyes closed, exceeding audience expectations!


Want personalized help? Get in touch, and let’s talk!

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