![]() Time after time I see managers and teams trusting their gut feeling when assessing future impact, irrespective of how well past predictions performed. In tech we’re somehow blissfully unaware of this. In other words our bad projections result not just in time overruns, but also in cost overruns and benefit shortfalls. In 2003, Kahneman and Lovallo extended the definition of Planning Fallacy to include the tendency to underestimate the time, costs, and risks of future actions and at the same time overestimate the benefits of the same actions.
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