Time

"Time is the friend of the wonderful business, the enemy of the mediocre."

                                                                                                                Warren Buffett


In contractual arrangements the time for completion of the contract (called time for performance or time fulfilment) is usually considered a lead time.

Lead time is the amount of time that elapses between when a process starts and when it is completed. With regard to the time when the process starts, we, at Hippocampus do relate on the time when the order is placed (contract is signed and advance prepayment is fulfilled); while regarding the time when it is completed – on time when goods are delivered to the final destination and the quality is approved by client.

Sometimes a business situation requires changing the due time that was originally defined for a stage of the contract task. The task state determines which of these times can be rescheduled, and when these actions can be taken.
For a chain of tasks, each task in the chain has its own due time. However, only the first task in the chain has an expiration time and this is shared by all of the other tasks in the chain. Subtasks have their own due time and expiration time.
At Hippocampus, the time fulfillment of every stage in the tasks chain is carefully followed and maintained and in the event of rescheduling, both parties are involved in the process of final decision making.