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Wall Treats, Master Painters

How your renovation project can escalate into 'hide and seek'.

Anyone who has been involved in a renovation project will know it is a complex logistical exercise to co-ordinate the trades and services.  It is virtually impossible to have an incident-free renovation … something will happen.

The question here is, how easy will it be to call the trades back to correct some work?  Mistakes happen, especially when all trades are on site.

You could spend a futile number of hours chasing them.  You could withhold payment but that may create a different set of problems.  Your opportunity cost here may be rather high, taking into account the stress and frustration the situation causes.   

Opportunity cost to you
Derivation		Assumptions
Eight hours following up with the painter	$384	Salary per annum is $100,000 40 hour weeks, 52 weeks per annum Things can be resolved within eight hours of following up (sometimes, it can take longer)
Stress and frustration (one hour of stress for each you spend following up)	$384
TOTAL	$768

 

The higher quote may now be quite attractive because of the savings in opportunity cost.

Other examples for you to read include:

• How a lunch hour meeting can turn to $481 worth of frustration.

You may have had a meeting like this.  But have you put a cost on it?  More ...

• How misplaced trust can lead to headaches and heartaches. 

Reputation and the desire to retain it is worth its weight in gold.  More ...

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