In the business of high precision optical components, whether in prototype, small or intermediate quantities, certain characteristic difficulties are frequently encountered affecting both customer and supplier. Among them are misinterpretation of specifications, erratic pricing, late bids, inability to perform, economic losses on the part of vendors, and, especially, late deliveries. Problems, and occasional disasters, may be expected when state of the art optical fabrication projects are undertaken, but many of these frequently recurring syndromes should be reduced through the application of some management principles. These include 1) assessment of relative capabilities within the industry, 2) clarification of project requirements through discussion with customer prior to submitting proposal, 3) codified baseline pricing guidelines from which to make pricing decisions, 4) radical review of project at time of order, 5) establishment and monitoring of procedures and milestones, and 6) open, knowledgeable, and objective communication with customer when questions or difficulties arise. Examples and detailed suggestions for putting these principles into operation are provided.