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Planning Fallacy in Business: Definition, Impact & Examples - Quiz & Worksheet

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the planning fallacy?

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1.

Which of the following is a cause of the planning fallacy?

I. Disregarding one's own past experiences

II. Not budgeting enough time for surprise events

III. Not paying attention to how others have fared in similar situations

2. Which of the following is a great way to help overcome the planning fallacy?

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About This Quiz & Worksheet

See what you know about the planning fallacy in the business world with these easy-to-use tools. Take this online quiz and answer multiple-choice questions on key topics like an explanation of the planning fallacy and the cause(s) of the planning fallacy.

Quiz & Worksheet Goals

The quiz/worksheet will address the following:

  • Technique for overcoming the planning fallacy
  • Result(s) of the planning fallacy
  • Placing blame when underestimating how long a project will take

Skills Practiced

  • Defining key concepts - make sure you can accurately define the planning fallacy
  • Information recall - access the knowledge you've gained regarding the cause(s) of the planning fallacy
  • Knowledge application - use your knowledge to answer questions about a method of dealing with the planning fallacy properly and what the planning fallacy can result in

Additional Learning

You can learn more about improving your time management skills at work with the lesson called Planning Fallacy in Business: Definition, Impact & Examples. Here are the main areas you'll be covering:

  • Planning fallacy example regarding a business that needs to grow
  • Importance of avoiding the planning fallacy
  • Strategies to reduce the risk that the planning fallacy occurs
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