This document discusses the concept of cost of delay and how it can be used to better understand a customer's priorities and optimize project scheduling. It defines cost of delay as the financial impact of waiting to complete a task or release a feature. It provides examples of how to estimate cost of delay both quantitatively by assigning monetary values to potential revenue gains, and qualitatively by analyzing language used in feature requests. Understanding cost of delay can help prioritize work to maximize value by focusing on the most time-sensitive tasks first. The document recommends using techniques like weighted shortest job first prioritization and limiting work in progress to balance queues and minimize delays.