What is the planning fallacy?
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The Bias: Your "two-week" project takes six. What's the bias?
Planning fallacy. People underestimate time even when past tasks ran over. Source: Wikipedia – Planning fallacy
Where It Shows Up: Where does it famously show up?
Megaprojects like the Sydney Opera House. The opera house finished years late and far over budget. Source: Wikipedia – Sydney Opera House
The Fix: Fix?
Reference-class forecasting: look at how long similar projects took. Outside views beat inside optimism. Source: Wikipedia – Reference class forecasting