The most profitable businesses know it, successful government leaders know it, retirees with adequate finances know it...skilled planning reduces costs, reduces the stress of surprises and prevents you from committing to more than you can reasonably afford.

We all have the instinct to minimize costs. But it is better to minimize TOTAL costs instead of just considering INITIAL costs. Consider the purchase of a new water heater. INITIAL COST of option 1 is $600 while option 2 is $1200. The choice seems obvious except that Option 2 saves this family $200/yr in energy costs which are expected to rise 10%+ per year. At the end of year three, the cheap water heater has a higher total cost. And at the end of 10 years, the cheaper unit has a TOTAL COST that is almost $2,600 more while also having a shorter operating life!

Generally, pushing a project to be completed in faster than average time will cost more. Tighter schedules mean more risks of various phases bumping into each other and causing inefficiencies.