The Hidden Indicators of a Failing Project

Harvard Business Review

Daniel Kahneman, in his book Thinking Fast and Slow , recounts a bit of a planning pickle he and his Israeli Ministry of Education colleagues encountered when estimating how long it would take to complete a high school textbook on judgment and decision making. He estimated that 40% of comparable projects failed, and for the teams that did finish, it took about seven years. And if you think you can identify these projects in your company, forget it. Project management

The Surprising Power of Business Experiments

Skip Prichard

Daniel Kahneman. The employee was forbidden to work on the project. The behavioral economist Daniel Kahneman once noted that “if you follow your intuition, you will more often than not err by misclassifying a random event as systematic. Experiment.

Power 69

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The F-35 and the Tradeoff Fallacy

Harvard Business Review

Most predictably, cost overruns; this is, after all, a government project. The US military's F-35 Lightning II was going to change everything.

The CEO Who Led a Turnaround Wearing a Helmet

Harvard Business Review

The company had been without a CEO for nine months, the earnings and stock price were in the tank, good people were running for the exits, and multiple projects in recent years had failed. Paul’s advice echoes Nobel Prize Winner Daniel Kahneman’s findings about the virtues of “thinking slow” – switching gears from a fast, automatic and mindless mode to a laborious, reasoned, deliberative, and conscious mode of thinking.

How to Regain the Lost Art of Reflection

Harvard Business Review

Brain science, popularized in Daniel Kahneman’s book , has shown that this type of “slow thinking” is negatively correlated with “fast thinking,” as might be employed when driving a car or solving a simple sum. Bill Gates and Mark Zuckerberg, among others, share Warren Buffett’s discipline to read extensively, safeguard time for personal development projects, and constantly seek new stimulus and perspectives.

Why Those Guys Won the Economics Nobels

Harvard Business Review

And that’s what these guys [the 2013 Nobel winners] did. It feels like it’s got a little bit of Kahneman and Tversky in it. So in that framework what do is you calculate the beta of your firm or your project with two components of the market return, and one of them is the one that you really worry about. When the Riksbank Prizes in Economic Sciences (a.k.a. the economics Nobels) were announced last fall , the news was greeted with some confusion and amusement.