Number 1 culprit: planning fallacy
- natural human bias - over-confidant
helps fights depression
- coordination overheads
projects are started by people who never end them
- procrastination
- impulse control
continous partial attention
Solution
- data is required to overcome planning fallacy
prevents lying to get what you want
realistic representation leads to no interest
- maintain historical data of over or under budgeting
punish if don't meet target
- reward if meet target
- use data/algorithms instead of human judgement to solve planning fallacy -
Amazon