The Planning Fallacy: Why Your Project Plan Is Wrong

Ever planned a project… and then watched it take twice as long? You’re not alone. That’s the planning fallacy at work — a common bias that leads us to underestimate time, cost, and complexity. In this video, I’ll explain what the planning fallacy really is, why it happens (there are some surprisingly human reasons), and the most common traps project managers fall into. More importantly, I’ll give you practical strategies you can use straight away to make better estimates, plan more realistically, and avoid those painful overruns. If you want your plans to be taken seriously — and actually stand up to reality — this is essential viewing. 🎓 Learn Project Management with Mike: The Project Manager's Skills Mastery Program - https://school.onlinepmcourses.com/p/pm-skills-mastery Join this channel to get access to perks: https://www.youtube.com/channel/UCMZfp1_wquyegVY9SoER0Nw/join Recommended Videos Carefully curated video recommendations for you: 🎬 What is Sunk Cost? ...and the Sunk Cost Fallacy? https://youtu.be/PubhWnVYkDE 🎬 Avoid Sunflower Bias - It's Dangerous https://youtu.be/bkVUFYJnDKQ 🎬 It'll Never Fly: Beat Confirmation Bias https://youtu.be/xtmjxll2NXU 🎬 Scenario Planning: 5-Step Process to See the Future https://youtu.be/ogcxeW8Pv1I 🎬 Project Planning Briefing [Major Compilation] https://youtu.be/jtG7T7aud_w 🎬 Project Planning 101 - How to Build Effective Project Plans https://youtu.be/9G_LwG8ozpo 🎒 A while back, I asked Project Managers in a couple of forums what material things you need to have, to do your job as a Project Manager. They responded magnificently. I compiled their answers into a Kit list. https://kit.co/MikeClayton/what-a-project-manager-needs Note that the links are affiliated. 🎬 For more great Project Management videos, please subscribe to this channel: https://www.youtube.com/channel/UCMZfp1_wquyegVY9SoER0Nw?sub_confirmation=1 🎁 For all our great Project Management articles and resources, please check out the OnlinePM