Mediation may take several hours, a day, or longer. The length of the mediation depends on the number of parties, the complexity of issues, and how well prepared the parties and their attorneys are. More importantly, the length of the mediation is dependent on how flexible the parties are, and how compelling their desire to resolve the dispute. The cost of mediation is economical compared to the alternatives of trial and what leads up to it. Just one pre-trial motion by the attorney may cost more than mediation.
Trial is infinitely more expensive, financially and emotionally, and is much riskier than mediation.
Timing is critical in mediation. The best timing for mediation is as early in the dispute as possible after the parties and attorneys have a very good handle on all of the factual and legal issues. Preferably the mediation should take place before expensive discovery, such as depositions, which can become very costly. Enlightened judges and mediators take the view that once depositions have begun the parties have already lost. By that time, after investing a lot of money in the litigation process, parties will have become less flexible and more entrenched in their positions.