I always used to fill the gas tank fully. It was a no-brainer decision. Why would you want to make more trips to the gas station? However now I see that sometimes, doing things in a small way is a better decision than doing everything in one shot.

Why am I sharing this? I think the danger in working in IT is that sometimes we want to build out complete systems, and we generally want to do this in a short a time frame as possible. Sometimes our research and enthusiasm makes us overconfident that what worked for others, can immediately and without issues work for us.

I have experienced being asked to work in projects in which an incomplete foundation of research was done. It is surprising how often major changes are planned and few questions asked. How much research is adequate? That depends on the cost of failure, and the cost of success. If failure of lost time is paramount, then a great deal is required. If the cost of success is lost opportunity is paramount, then less research is required. There is a trade-off between lost time and lost opportunities.

So why should I fill the gas tank partly? The cost of the gas going up might be a failure if I wait. However depending on your sources, you might lose more money by spending money at a higher price instead of waiting. This directly came into use many times in business. I once had a manager ask me my opinion on the cost of a high-end plasma tv he was going to buy for next years convention booth. We weren’t going to use the TV for a year, so it wasn’t a need to buy now. However he said that he saw the lowest prices ever for that set, so asked if I thought it was a good idea to buy it now. I told him that according to some stories that I had read about component manufactures, that the price of plasma tv’s would take a dramatic decline in the next six months, and asked if he could wait that period of time. He agreed and waited. It turned out that I was right, and we saved literally thousands on that purchase.

Everyone considers the present cost of things, but very few people consider the future cost of things, or more importantly, the cost of doing an action vs. doing an alternative choice. I think to be wise, we need to consider the short and long-term effects of our decisions.

Are the few cents you save in following gas prices really worth all this thought? Probably not, but the logic and discipline it teaches you is very useful.