Optimism Bias

Learning Outcome(s):

The activity is to be an individual piece of work focused on LO 1 (Use different planning techniques, assess and evaluate the differing tasks time, cost, and quality requirements to produce a project delivery plan within a goal-oriented environment.

Introduction to Coursework:

“Optimism bias” has been proved to be accepted as a major cause of unrealistic scheduling, cost overrun, and difficulties in developing baseline plans.

Coursework Outline/Scenario:

You are required to define and discuss the above phenomena within the management of projects and their planning. Your discussion should also highlight the effect of this bias and some of the mitigation methods used to eliminate or reduce its effect.

Coursework Format/Presentation:

The activity requires the production of an essay of 1000 words (+ or – 10%) in length. The writing style should be concise (not brief), and an appropriate structure should be adopted. The emphasis is on analysis and evaluation, not on describing. Images, tables, etc. are considered as being ’graphic’ material in this context. This will ‘free-up’ some space in terms of the maximum word count. The essay should have clearly-stated connections with appropriate literature and these should be consistently referenced (preferably using the Harvard style of referencing). No executive summary or introduction is required. For more information on Optimism Bias check on this: https://en.wikipedia.org/wiki/Optimism_bias