In this Never Enough Money (NEM) series to date, we’ve provided advice about common areas of waste that can be explored as ways to free up money for cash starved projects. If you are in the situation of NEM (and aren’t we all!), identification of waste should be a top-of-mind issue, always, every day, throughout the life of your project. I think about squirrels when I think about project money: gathering nuts (money) throughout the year (project) storing and saving for the inevitable rainy day when some expensive and unexpected project task is revealed. And they will come up….
In the next few posts, we are going to discuss this issue from a different perspective, the project practice of false economy. A Wikipedia definition: A false economy is an action that saves money at the beginning but which, over a longer period of time, results in more money being spent or wasted than being saved.