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You are here: Home / 4 - Management / What Does That Really Cost?

What Does That Really Cost?

June 8, 2009 by Matt Perman

The cheapest option is not always the cheapest option. The management blog over at About.com has an introduction to the concept of Total Cost of Ownership. Here’s the start:

If I buy product “A” for $50 is that cheaper than buying Product “B” for $60? Well, that depends.

The concept of Total Cost of Ownership, usually abbreviated as TCO, helps us evaluate the true cost of the purchases we make for our companies, and for ourselves.

I would like to add another cost as well. I call it the “pain in the neck cost.” In other words, you need to look not only at the purchase price of the item and not only at the total cost over the life of the product, but also at the potential for problems and trouble and turmoil that the product will simply cost your sanity. This cost is intangible — you cannot necessarily assign dollars to it — but is just as real.

These days, when time is the new scarcity, the pain in the neck cost is more important than ever.

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What’s Best Next exists to help you achieve greater impact with your time and energy — and in a gospel-centered way.

We help you do work that changes the world. We believe this is possible when you reflect the gospel in your work. So here you’ll find resources and training to help you lead, create, and get things done. To do work that matters, and do it better — for the glory of God and flourishing of society.

We call it gospel-driven productivity, and it’s the path to finding the deepest possible meaning in your work and the path to greatest effectiveness.

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About Matt Perman

Matt Perman started What’s Best Next in 2008 as a blog on God-centered productivity. It has now become an organization dedicated to helping you do work that matters.

Matt is the author of What’s Best Next: How the Gospel Transforms the Way You Get Things Done and a frequent speaker on leadership and productivity from a gospel-driven perspective. He has led the website teams at Desiring God and Made to Flourish, and is now director of career development at The King’s College NYC. He lives in Manhattan.

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