...Human beings are generally pretty lousy when it comes to estimating the time they will need to complete a task. Psychologists refer to this as the planning fallacy, and it's an all too common problem - one with the very real potential to screw up our plans and keep us from reaching our goals. ...This certainly explains a lot about why bosses always think the people who work for them should have finished everything in fifteen minutes or less. But more than that, the article breaks down why we underestimate completion times and how to avoid it in the future. Good read and definitely worth the thirty seconds it will take you to read it. Oh wait... maybe you should budget a full minute or two. :)
People in positions of power, for example, are particularly vulnerable, because feeling powerful tends to focus us on getting what we want, ignoring the potential obstacles that stand in our way. A recent set of studies ... shows that such a narrow focus does indeed turn powerful people into very poor planners.
Read the full article here.
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