The Pointy-Haired Dean Gently Suggested That Study Tour Offerings Be

question 18

Essay

The pointy-haired dean gently suggested that study tour offerings be doubled in the coming three years so Dilbert dutifully explored the possibility of offering a week-long study tour to Elbonia.The globalization committee's consensus was that the probability of failure was high;after some discussion they agreed that the figure was perhaps 0.6.The consequences of failure were another matter.The cost of failure was 0.2,the schedule element was 0.1,and the reliability score was 0.1.The team was divided on what to do with the performance score.Two members were adamant that it was possibly as high as 0.7,but the other two members felt the performance score was closer to the others,in the neighborhood of 0.15.Estimate the overall project risk factor for this undertaking and offer commentary as to the efficacy of the study tour to Elbonia.

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Definitions:

Status Quo Bias

The tendency for individuals to prefer for things to stay the same by doing nothing or by sticking with a decision made previously.

Default Option

A pre-selected choice among a set of options that will be applied if no alternative is specified by the decision-maker.

Action

The act of doing something or taking steps towards achieving an outcome.

Reactance

An encouraging response to incentives, personalities, standards, or rules that risk or nullify specific behavioral liberties.