In the early stages of any project or venture, one often needs to quickly assemble a budget. This initial process can be rushed and fraught with errors, as Donna Shalala's statement highlights. She notes that her team made significant mistakes during this phase, which they spent over a year correcting.
The quote underscores the importance of thoroughness when creating budgets, even in the face of time pressure or other constraints. While it might seem expedient to hurriedly draft a budget and move on with the project, such an approach can lead to oversights that may require substantial effort and time to rectify later. Shalala's experience illustrates how crucial it is to take the time necessary during the initial planning stages to avoid costly errors down the line.
Donna Shalala, the author of this quote, has had a distinguished career in academia and public service. She served as President Clinton’s Secretary of Health and Human Services from 1993 to 2001 and is currently president emerita at the University of Miami. Her extensive experience in managing large-scale initiatives and organizations lends significant weight to her advice about budgeting and project management.
