Analysis paralysis: Difference between revisions
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imported>Doug Williamson (Expand definition to identify lost opportunity costs.) |
imported>Doug Williamson m (Categorise.) |
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Revision as of 09:28, 24 July 2019
Excessively detailed or time-consuming review of decisions, including minor decisions.
Analysis paralysis usually involves being too fearful about the potential disadvantages of a course of action.
It can result in substantial lost opportunity costs.
Cures for analysis paralysis include:
- Recognising that delay and inaction are also choices, which can carry a significant cost, especially in lost opportunities.
- Appropriately identifying which major projects and decisions truly warrant very detailed review, and making quicker decisions about other minor projects.
- A culture of taking swift remedial action as projects evolve and opportunities to improve are identified.
- Heuristics.
