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The Planning Fallacy

11 July, 2022 by James Lawther Leave a Comment

Example of The Planning Fallacy Sydney Opera House

The Sydney Opera House Perhaps the most famous example of the planning fallacy is the Sydney Opera House. Located on Bennelong Point on the banks of Sydney Harbour in New South Wales, the Opera House was designed by the Danish architect Jørn Utzon and opened to the public in 1973. It is one of the […]

Filed Under: Blog, Wild Cards Tagged With: anchoring, assumptions, capital investment, planning, planning fallacy, project management

Estimates and Anchors

23 January, 2014 by James Lawther 13 Comments

Nottingham Riviera

Sometimes you will be asked a question and you won’t know the answer… How many customers will call? How many products will you sell? How much will the project cost? Sometimes you have to start with an estimate. How do we estimate? Let me explain with a question: how many people live in my home […]

Filed Under: Blog, Operations Analysis, Tools & Techniques Tagged With: anchoring, assumptions, decisions, estimation

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