Human beings are biased toward underestimation

Assignment Help Operation Management

Reference no: EM131273108

Per the text, four of the main reasons behind inaccurate cost estimates are 1) Estimates are done too quickly, 2) People lack estimating experience, 3) Human beings are biased toward underestimation, and 4) Management desires accuracy (Schwalbe, 2016). Given today's tough economic client and the trends you see in business and government, which of these four causes do you think are the most significant? Describe one way that a good project manager can help overcome that most significant factor.

Reference no: EM131273108

Questions Cloud

Apple is certainly one of big and sustained successes : Apple is certainly one of big and sustained successes. They are a company that knew how to focus on very clear goals and make them happen. Apple was just a garage startup. But there are many amazing ideas that started in garages. Now that they are a ..

Proves negligence what is the extent of their liability : Adrian and Fran operate their computer tech support company “Best Techs,” as an S corporation, file the appropriate incorporation and registration paperwork with the Secretary of State’s office, hold shareholders’ meetings to elect a board of directo..

What is the annual cost of carrying inventory : Assume the lead-time is 5 weeks with sea freight and 1 week by air, and the review period is 1 week because of production cycles at the Vancouver plant. The product’s cost is $400 which includes the cost of sea freight. Find the total for each model ..

Human beings are biased toward underestimation : Per the text, four of the main reasons behind inaccurate cost estimates are 1) Estimates are done too quickly, 2) People lack estimating experience, 3) Human beings are biased toward underestimation, and 4) Management desires accuracy (Schwalbe, 2016..

Substitutes-suppliers-buyers-complementors : Perform an industry analysis of Keurig Green Mountain using Porter's 5(6) Forces model as the framework. Be sure to identify and explain: Competitors (Rivalry), Entry barriers, Substitutes, Suppliers, Buyers, Complementors.

Education to prepare for their future career : Identify some strategies that will promote success in graduate school/graduate students. What can graduate level students do to maximize their learning and education to prepare for their future career, as well as increase their likelihood of success ..

Four ps of marketing-product-pricing-promotion and place : To understand marketing, a good first step is to master your insight into the Four Ps of marketing: Product, Pricing, Promotion, and Place (i.e., distribution). Everyone knows the importance of having a well-defined product, appropriate pricing, and ..

What is the automatic stay : What is the automatic stay? Is is possible for a creditor to have the stay lifted by the Court? On what grounds?I need an expert that can answer these 3 questions in detain in 3 paragraps.Any expert on these questions?

User Account

All Pages