One Major Consequence of the Planning Fallacy Is That

question 266

Multiple Choice

One major consequence of the planning fallacy is that

• A)people may spend more resources to insure themselves against rare events, but leave themselves uninsured against more common events.
• B)someone could persist in pursuing a failed policy despite overwhelming evidence of the failure.
• C)major business projects may create bottlenecks in the organization because they are not completed as scheduled.
• D)some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments.

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Definitions:

Reference Checks

The process of contacting previous employers, colleagues, or professional contacts of a job applicant to verify information and gain insights into the applicant's work ethic and abilities.

Organizational Politics

The activities within an organization aimed at improving personal or departmental power and influence, often at the expense of organizational goals.

Specialized Expertise

Refers to the advanced knowledge or skills in a particular field or area of study, often acquired through education or extensive experience.

Service Levels

Agreed upon measurements of the quality and performance of services provided, often detailed in the service level agreements between providers and consumers.