Technology Industry
Industry: Email Alert RSS FeedTime value of money; an important strategic factor in planning and presenting projects, time value of money is a concept you should understand and use to your advantage. (business basics).
Enterprise Systems Journal, June, 2002 by Powell, James E.
Would you loan me $5 for lunch? I'll pay you back tomorrow.
No big deal, right? I've borrowed from you in the past and always paid you back.
Better still, how about if I repay you in a week? I promise I won't forget.
Interested? I didn't think so. Assuming the guy remembers to pay you back, next year's $5 repayment won't buy as much as $5 today.
That's the time value of money at work. To be an effective IT manager, you must take the time value of your precious budget dollars into account. This is especially important in large systems computing, where project time is measured in months and years, not days and weeks, and costs can run into the millions. Time value of money can become an important strategic factor in planning and...
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