And when your good mood is at its lowest point in the day. In that case, you may be feeling less optimistic, which could help you create more realistic estimates
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Is our tendency to underestimate the amount of time it will take to complete a task. Estimation mistakes can usually be attributed to 2 key factors:
Start by asking: How long do such projects usually last?
If you’re coding a new feature for your company’s app, look at how long it took your team to build and release a similar feature in the past. If you’re writing a 4,000-word blog-post, review your data showing how many hours/days it took you to write a similar piece previously. Then, base your estimates off of that data.
While we tend to be optimistic about our own abilities to complete tasks quickly, we’re much more pragmatic when it comes to figuring out how long it will take someone else to complete a task.
When estimating any task or project, you have to take all of these things into account: There are things you know will happen, things you know could happen, and things you never once considered might happen.
It forces you to confront your possible optimism by asking you to identify 3 different pieces of data:
Once you have your 3 numbers, calculate the average of the 3 points of data.
We all have busy schedules, but we are incorrectly planning our day around the time we have, not around priorities.
Our estimates on how long certain tasks will take are almost always not realistic.
We assume we have more time than we really do, and we will get the job done quickly. Tasks like filing one’s tax return, catching a plane, investing in one’s health and other life demands become difficult with this basic assumption.
The planning fallacy affects our work satisfaction and health, leading to stress and burnout.
This effect describes our tendency to remember incomplete or interrupted tasks better than completed tasks. Each unfinished task takes up some of your attention, splitting your focus. It also interferes with your sleep.
What you can do about it: