Planning an Event
Suppose that you were planning an event for 10,000 attendees in ten years. You would have plenty of time to work with your client to fully understand all of their objectives, research potential venues, secure the best personnel, develop plans and checklists to be sure you organize the perfect event.
Now suppose the event were five years from now. You would need to move quickly to secure venues, and might not have the ideal venue selection, but you can probably still do a high quality job without too many tradeoffs.
Now suppose the event is just a year from now. You are really rushed to find a venue, perhaps any available venue. You need to move quickly to make all the necessary arrangements, and may make some non-optimal decisions.
Now suppose the event is just a month away. You are really rushed; your selection of venues is severely limited. Few vendors are available; you are working day and night, are fatigued and are likely to make errors. While you may be able to organize an event, there will probably be great increases in costs and likely decrements in quality. You may wish to skip the opportunity. Unless the payoff is very high you may not wish to risk the potential damage to your reputation.
If the event were just a week away you may or may not be able to do the event. You might be better off exploring setting up an online broadcast.
Staffing an Event
Now let us suppose you are managing your event staff. You have three choices of caterers. One of whom has high quality and safety standards. They have sufficient staff to insure that their kitchen crew is not rushed on the job. A second caterer charges less because they employ fewer employees to do the job. They push their employees to work as quickly as possible. Most of the time their events are accident free, but in doing an on-site inspection you notice how rushed the crew is. There are obviously more risks of accidents, including serious physical injury with the second caterer, but the dollar costs of hiring the first caterer appear at a first glance (before considering potential liability issues) to be lower. Which caterer are you going to hire?
The speed safety tradeoff is such that every time one pushes their team or themselves to work to capacity the chances of making mistakes and causing injury go up. That does not mean there will be lower quality, accidents and injuries every time. Therefore, people may overlook the risks of pushing too hard. I cannot in a blog post tell you how to set your criteria, that is your decision, but I can and do encourage you to think about speed-accuracy-safety tradeoffs in any and all of your planning.