Psychology: The planning fallacy: people consistently underestimate…

Question

Did you know? The planning fallacy: people consistently underestimate how long a project will take — even when they've done similar projects before and knew how long those took. The Sydney Opera House was estimated at 4 years and $7M; it took 14 years and $102M. Researchers (Buehler, 1994) call this "the most robust phenomenon in decision-making".

Accepted Answer

The planning fallacy: people consistently underestimate how long a project will take — even when they've done similar projects before and knew how long those took. The Sydney Opera House was estimated at 4 years and $7M; it took 14 years and $102M. Researchers (Buehler, 1994) call this "the most robust phenomenon in decision-making".

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