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Biases in Project Management and How to Remove Them

Herding Cats

Optimism bias - a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. Managerial Finance - the branch of finance that concerns itself with the managerial significance of finance techniques. These principles originate in: .

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Fallacy of the Week

Herding Cats

Have sufficient Contingent Budget and Management Reserve to cover the cost variances from the naturally occurring cost behaviors, event-based impacts on cost, or cover things that go wrong with the Risk Cost coverage. Have sufficient Technical Performance Measures margin to cover the required performance measure of the Capabilities.

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Biases in Project Management and How to Remove Them

Herding Cats

Optimism bias - a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. Managerial Finance - the branch of finance that concerns itself with the managerial significance of finance techniques. These principles originate in: .

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Start with Principles, Not Personal Anecdotes

Herding Cats

In the project domain, an estimate is a calculated approximation of some desired measurement. This is usually a cost, a completion date, a performance measure used in a closed loop control system to keep the project GREEN while delivering the needed Capabilities to produce the Value for the customer at the needed time for the needed cost.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Events and milestones are represented as nodes. Contingency Plan: A formal plan that details the evasive actions that can be taken in the event of a contingency. Dynamic Systems Development Method (DSDM): An agile software development methodology that uses an iterative, incremental approach to project execution.