You're balancing quality and budget in media production. How do you decide where to allocate funds?

I totally agree to this the foundation has to be the main core for starting a project the minimum basic need has to be prioritised first

Think about the story above everything else. A great story can be told with just audio, that’s what radio is after all, and podcasts today - so think carefully about every penny spent on fancy locations, travel, drones, costumes, art - none of that visual side matters if you haven’t got a good story beforehand. Nail the story and then think of the very best visuals you can afford!

Planning. That needs to be the foundation of a production. As much as is practical, professional productions 'plan and shoot' (what do I want this to look like, and working out the best ways to make that happen) compared to the more amateur approach of 'point and shoot' approach (shooting on the fly, hoping this looks good). It's in the planning that we can then nut out production intricacies like budget and where the cash ought to best be spent (always remember the importance of good catering! ??).

It totally depends on what type of content or TV or film you are making as to where you should allocate your budget. 1) Audio - you really can't do that much if you haven't captured the key sounds properly! 2) Camera angles - it might be better to save on a drone or fancy graphics package to afford another camera angle on the ground - saves you loads of time in shooting 3) People to help with specific jobs that will save you time when filming! Make sure you've got the right number of people in case you create a bottleneck in your production process that you could have avoided by bringing in another person to help.

This, of course, is a simplified point. But it is correct. The type of project will importantly inform us of our needs. An indie film has different requirements to a corporate explainer video, which is different to a feature film, which is different to procedural television, which is different to reality TV, and etc. Each style of project will require a different production framework: and that in turn helps us to flesh out the specific needs and where we can allocate finances.

Keep abreast of new technology that will save you time and money in production - in the last few years there have been huge changes eg AI based transcriptions, AI based rotoscoping etc can all save loads of money - make sure you check that you haven't missed a great innovation that could save you ￡￡￡￡￡

My favourite example of this remains Paranormal Activity. For a budget of $15K production ($215K post productio), they produced an indie film that has grossed $194.2M at the box office. The constraints surrounding the original production saw the development of the 'found footage" style of shoot. A wonderful creative adaptation... and the proof is in the ROI.

Planning in media production helps you identify potential cost overruns and allows you to make adjustments before they occur. From scheduling complications to precise equipment needs, staffing, and more. Never underestimate the importance of pre-production.

From my experience, collaboration and communication with stakeholders such as the production team (pre and post), cast, marketing, and technical teams, play a crucial role in managing costs. Encouraging stakeholders to be mindful of their processes helps save time and money. Without effective communication, missteps can lead to budget overruns.