The planning fallacy
The planning fallacy is the likelihood to underestimate the time it will take to finish a future task despite knowing that similar projects have taken longer in the past. For example, writers underestimate how long it will take to complete a novel; product managers miscalculate how long a new feature will take to build.
Studies show that we underestimate how long it will take even when we know we're likely to underestimate timelines.
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The Planning Fallacy
We tend to underestimate the time it will take to complete a future task despite knowing that previous tasks have taken longer.
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- Break projects down into smaller parts and estimat...
Planning Fallacy
The planning fallacy describes our tendency to underestimate time, costs, and risks while overestimating benefits. This occurs because:
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The planning fallacy
Is our tendency to underestimate the amount of time it will take to complete a task. Estimation mistakes can usually be attributed to 2 key factors:
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