When you are costing out your projects, how often do you remember to factor in Opportunity Costs? Do you know what Packaging Opportunity Costs are? We've referred to them a few times in our weekly releases. Here are some thoughts on opportunity costs.
Opportunity Costs aren't tangible and we can't track them like usual expenses in business. That doesn't make them any less important.
When you are costing a project, remember to recognize the Opportunity Costs and whether you would be better off by outsourcing the project.