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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso -- Planning Fallacy
Description: Planning Fallacy Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The planning fallacy is defined by Wikipedia as the tendency to underestimate task completion times. Projects take twice as much time and cost as planned. First-time founders don’t have previous experience and cannot rely upon past projects when making plans. Some founders recall selected cases in the past that went well and plan optimistically. To overcome the planning fallacy, consider the following: Break the project down into its component parts to make the analysis easier. Analyze previous pr...