Human error, fraud, and badly managed budgets cost businesses billions of pounds every year. Although these losses may be small on an individual scale, they can add up astronomically.
Understanding loss is often much more tangible when put it is put in perspective. For example, how much do businesses lose compared to the total cost of sending a space craft to the most distant planet in our solar system.
Putting a Price on Pluto
This week, NASA’s New Horizons mission to Pluto showed us an entirely new world. The probe revealed giant ice mountains, craters and huge valleys on the surface Pluto and its moons, all for the fraction of a cost of some costly business errors.
The total cost of the New Horizons mission was around $700 million, or about $46.7 million per year for the 15 years it took scientists to design, build and fly the probe to a distant speck 3 billion miles away.
While that may sound like a lot, it looks like money-well-spent compared to some of these costly errors.
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