Home Renovations compared to Fueling Up and Changing Tires
Home renovations are filled with choices that will force you to consider the Triple Constraint of PRICE/QUALITY/TIME. Where are you going to spend more money to get better quality or speed up the timeline? Where are you willing to give up time to save money? Where will you sacrifice not getting the newest gadget in the upgrade to save on money?
Renovation decisions are a lot like maintaining your vehicle; it needs Fuel and Tires. If you own a vehicle, you have to fill it with fuel. You have gone to a gas station, you have decided how you would like to pay, then you choose the right octane level, you open up the gas cap and you fill ‘er up. Pretty simple… you got this!
Your tires need to be changed, either because you figured out they were due to be changed, or somebody told you. You have 2 options: change your own tires, or go to a tire store, pull in, get a quote, agree to it, and then have them change your tires. “Get ‘er Dun!”
So, what are the driving factors in your decisions? PRICE/QUALITY/TIME.
PRICE: For fuel, you pull up to the pump, get out and select the grade, – regular, mid, premium or diesel? Most of us put in regular grades… why? Well, it’s cheaper and why should I upgrade and pay more? When you do this, then you have decided PRICE out-weighed QUALITY and TIME.
TIME: If you pull into that same gas station and you cannot swipe your card at the pump, what do you do? Do you stay there and waste your TIME going inside to pay? Are you irritated that this inconvenience has happened? If you are … then do you go into the gas station attendant and pay, or do you get in your car and drive to the next gas station that allows you to pay-at-the-pump to save the TIME? If that’s the case, then TIME outweighed PRICE and QUALITY.
When it comes to tires…
QUALITY: Do you research the best tire for your vehicle and determine that you want a sport, touring, or specialty tire? Do you look for a specific brand that is known to be the best? If you do, you are looking for a QUALITY tire that performs how you expect in the environment you live and maybe has a warranty with a timeline you expect. QUALITY often outweighs PRICE and TIME in tire selection.
Safety drives the decision for many when buying tires. Changing your tires too quickly and missing something like a lug-nut, forces us to pay for a professional installation because we need the job done right. When you decide to let someone change your tires, because you don’t have the right equipment and skills to perform this at home, you have also chosen QUALITY over TIME and PRICE due to safety.
All of these factors play into your decision to start a home remodeling project. Paying for a licensed plumber or electrician to make sure you are safe is important to many of us during a project. If you don’t hook up the furnace correctly, potential danger! You choose to use professionals for safety and QUALITY outweighs PRICE and TIME.
When working with the Triple Constraint of PRICE/QUALITY/TIME it is important to have a grasp of and clear expectations. You can embark on the project by yourself as a DIY-run job. It will probably take longer, but it will save you a good deal of money and allow you to get some QUALITY choices in certain areas. You can go with a contractor for the entire project and know that the PRICE will be more, but typically the QUALITY and TIMEline will be quicker than doing it yourself. And doing a mixture of DIY and contractors might allow for you to complete the project and choose safety in certain areas. You will always have many choices, but remember they are all governed by the Triple Constraint of PRICE/QUALITY/TIME.
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