Balancing Quality, Time, and Cost in Commercial Land
Producing a TV commercial in Australia can sometimes be a mighty complex undertaking, involving a lot of planning and long hours to ensure it's a success. Producers need to make informed decisions on how best to allocate resources, manage time, cost, and quality, and ensure that creative and clients expectations are met.
Whenever I take on a job I always consider the Good, Fast, Cheap theory. The theory states that in any project, there are three elements to consider: time, cost, and quality. However, only two of these elements can be achieved simultaneously, and the third element will have to be sacrificed.
TIME
Commercials are often produced under tight deadlines. It seems to be the case more often than not. Therefore, managing time effectively is critical to ensure that the commercial is produced and aired within the required timeframe. A delay in production can lead to missed opportunities or result in additional costs to the production budget.
COST
Cost is always a significant factor in any project, and it's essential to stay within the allocated budget. Producers need to strike a balance between the cost of production and the quality of the commercial. While producing a high-quality commercial may require more resources and a higher budget, producers need to ensure that they don't compromise on the quality of the final product. Similarly, if the priority is to produce a commercial within a limited budget, producers may need to compromise on quality (which no one ever wants to hear) or extend the timeline to ensure that the final product meets the necessary standards.
QUALITY
One of the most critical factors in producing a TV commercial is quality. Producing a high-quality commercial is essential to create a positive impression of the brand. A well-produced commercial that tells a story and connects with the audience can make a significant impact on consumer purchasing decisions (so I’ve been told). However, high-quality production often requires more resources and time, which can increase the cost of the project.
Producers need to evaluate the critical factors and determine which two elements are most important. For example, if the priority is to produce a high-quality commercial, producers may need to invest more resources in the project, including hiring additional production support or outsourcing tasks. On the other hand, if the priority is to produce a commercial within a limited budget, producers may need to compromise on quality or extend the timeline to ensure that the final product meets the necessary standards.
Clients may also have different priorities and objectives, which can lead to conflicting demands. The Good Fast Cheap project management triangle can help producers communicate the trade-offs involved in producing a commercial and manage client expectations accordingly. By outlining the relationship between time, cost, and quality, producers can show stakeholders the potential trade-offs of prioritising one element over another and make informed decisions about the project.
The Good Fast Cheap theory is a valuable principle in managing TV commercial productions, allowing producers to determine which two elements are most crucial to the project's success and allocate resources accordingly. It’s often a delicate topic with agency and client to find the balance but is best raised at the beginning of project so that expectations are managed well.
Good luck!
