Management, Posts

Outsmart The Planning Fallacy

Projects go over-budget and over-schedule; small ones, like renovating your kitchen, and huge ones, like constructing the Sydney Opera House. One main reason is our overconfident optimistic approach to planning. Behavioral psychologists call this the “Planning Fallacy“.

This post defines the concept of planning fallacy, gives examples of its consequences on some global projects, and provides some tips to mitigate it.

The Planning Fallacy

The planning fallacy is when we underestimate the time and resources needed to complete a project. We are often optimistic about our performance and the outcome of the project, so we take our desires for real plans.

The planning fallacy is a cognitive bias that fools our decision-making ability into considering the best-case scenario. It has a somewhat positive side, which is risk-taking. This cognitive bias allows us to take both small risks, such as opening a small business, and huge risks such as starting a war.

Catastrophic Project Plans

The following chart presents some major projects around the globe that went catastrophically over-budget. Notice the trend; the bigger the project, the higher the overbudget.

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Mitigate the Planning Fallacy

Among the methods to mitigate the planning fallacy, we present the major three: Continue reading “Outsmart The Planning Fallacy”

Engineering, Management, Posts

Agility – Beyond Software Development

The digital technology industry has been moving in a very fast pace over the last decades. Companies that are unable to adapt have been left behind (Nokia, Kodak, etc.). Agility is a key skill for a company to remain competitive.

Since the Agile Manifesto for software development, declared in 2001, several software companies have been moving towards this mindset. Some companies went further, and adopted Agile way of development in industries other than software industry.

bobdylan_2275506bIf your time to you is worth saving
Then you better start swimming, or you’ll sink like a stone
For the times they are a-changing.

-Bob Dylan

Is it possible for any company to apply Agile ? How about big companies, with complex organizations, top-down policies, rigid processes, over-specialized teams, and other bureaucratic burdens ? And above all, what is Agile and what is not Agile ? First, let’s review the life-cycle of a product.

Product life-cycle

A product life-cycle can be broadly divided into 4 phases as shown on the figure below:

Picture5
Product Life-Cycle

Continue reading “Agility – Beyond Software Development”

My Resume

Agile Software Development – University of Minnesota

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