The longer something takes to deliver value, the less valuable it is. For example, when building a feature for a product, if it takes a year to build, it’s going to be less valuable than if it were to take a month because of the opportunity cost.
There are a few ways I’ve found to apply this principle. Time boxing work so that the total cost of time knowable. Make a rule that there are no “blank check” projects i.e. run on project that has no timeline or plan.
See also:
- Speed is undervalued
- This relationship is measured directly when it comes to interest rates
- Schedule time every day to work on your top goal
Links to this note
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Time Since Requested Does Not Increase Importance
We can’t go back in time so the only thing that can provide value is in the present and future.