Answer the following questions: (100-150 words each question)
How does the SOCKS framework (shortfalls, overruns, consequences, killed, and sustainability) help a team elucidate the range of project outcomes and potential risks?
How does data progress to wisdom (fig 4.4 and Table 4.2 on pg 119)? How do staff, skills, culture, and capability ultimately result in, “faster, more data-driven decision making and strategic processes to avoid human bottlenecks?”
Both ‘Groupthink‘ and the ‘Abilene Paradox‘ illustrate how people in groups can hide risk to help achieve group consensus. “Groupthink” was considered groundbreaking in 1971, and is still widely discussed today. Have you seen ‘Groupthink’ processes lead to poor decisions in your firm? How could this have been avoided?
Explain what cognitive biases in business is.
Explain perception biases, problem-solving biases, and solution selection biases.
Explain complex systems (complexity) and the three features that combine to make them more particularly challenging.
What are the six systematic flaws in how humans think about risk and explain.
How it is important to think about change risk across entire change portfolios to capture the risk to the whole business