Optimism bias In projects
Biases
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6m 13s
In this discussion by Steve Jenner, the topic revolves around the predictability and misestimation of time for tasks. Steve highlights a phenomenon he refers to as "Hof's Status Law," which essentially underscores the idea that tasks often take longer than one expects, even when accounting for potential delays. To exemplify, he brings up the "Student Syndrome", where a student might promise to complete an assignment by a certain date, say Friday, but given the universal tendency encapsulated by Hof's Status Law, they might end up needing more time than initially promised. The challenge lies in accurately gauging how long something will take, and Steve emphasizes that even with prior knowledge of this law, we often misjudge our timeframes.
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