Meetings Cost You Money
By Bob Plankers on May 31, 2007 in People Stuff, System Administration
Number of staff from my group in your meeting: 2
Number of meetings you have per year: 50
Scheduled length of meeting (what you get billed for): 1 hour
Average actionable/discussable agenda items per meeting: 0.25 (once a month)
Total cost to you for us to attend: 2 * 50 * $80 = $8000
Total cost to you for monthly meetings: $2000
Savings: $6000.
Your team’s budget shortfall (which started this whole discussion): $3000
Amount you still save after the shortfall is removed: $3000.
2 Comment(s)
By Mike Gorrell on Jun 1, 2007 | Reply
Bob - I don’t follow your math. $80/hour times 100 hours a year = $8,000.
Where does the budget shortfall and the cost come from? … i.e. how does $2,000 and $3,000 relate to the $8,000?
I thought you were heading down the path of them wasting $6,000 per year (25% of the meetings are useful, therefor $2,000 is ‘worth it’).
-mdg
By Bob Plankers on Jun 1, 2007 | Reply
Yeah, you’re right, I just changed it so it tells the story a little better.
They’re paying $8000 right now but, in my opinion could get the same amount of effectiveness from spending $2000 (having 75% less meetings).
This started with a budget shortfall of theirs (of $3000), and them asking for ideas about how they could reduce their expenses…