Freakonomics Radio Why Your Projects Are Always Late — and What to Do About It (Ep. 323 Replay)
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Apr 27, 2023 Discover why your projects often face delays and budget overruns. Explore the infamous Second Avenue subway project as a case study in chronic delays. Learn about the planning fallacy and how cognitive biases, like optimism and overconfidence, can skew your timelines. Gain insights on effective time management strategies and the importance of realistic expectations. Delve into unintended consequences in project management and how data-driven approaches can mitigate inefficiencies. Turn your project challenges into successes!
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Procrastination's Impact
- Procrastination exacerbates the planning fallacy.
- Starting a project late makes on-time completion unlikely.
Work About Work
- Justin Rosenstein, at Google, found most of his time was spent on "work about work," not actual coding.
- This realization, common across companies, led him to seek better project management solutions.
Asana Launch Delay
- Rosenstein and Moskowitz estimated launching Asana would take one year.
- It actually took three, highlighting the prevalence of the planning fallacy.