Analysis paralysis: Difference between revisions
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imported>Doug Williamson (Layout.) |
imported>Doug Williamson (Expand definition to identify lost opportunity costs.) |
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Analysis paralysis usually involves being too fearful about the potential disadvantages of a course of action. | Analysis paralysis usually involves being too fearful about the potential disadvantages of a course of action. | ||
It can result in substantial lost opportunity costs. | |||
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==See also== | ==See also== | ||
*[[Heuristic]] | *[[Heuristic]] | ||
*[[Opportunity cost]] | |||
*[[Project analysis]] | *[[Project analysis]] | ||
*[[Regret risk]] | *[[Regret risk]] | ||
Revision as of 18:31, 22 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.
