Quote from sachinm on 2 October 2023, 1:24 pmIdentify Industry Specific Challenges relevant to the Infrastructure SIG to be included in the Practice Guide.
Set the challenge, for other SIG members to identify potential solutions, by pooling their collective experience and knowledge.
Press "reply" to share your story...
Identify Industry Specific Challenges relevant to the Infrastructure SIG to be included in the Practice Guide.
Set the challenge, for other SIG members to identify potential solutions, by pooling their collective experience and knowledge.
Press "reply" to share your story...
Quote from sachinm on 6 October 2023, 11:24 pmTo get the ball rolling here, we can consider the challenge that Salience Bias creates in the development of accurate project estimates...
Salience Bias is a psychological phenomenon in which people have a tendency to give more weight or attention to information that is more prominent or noticeable. This bias can influence how people perceive and interpret information, and can affect their decision-making. It is an evolution method our brain has developed to simplify complexities to protect us but that also makes us make bad decisions.
However, among Quantity Surveyors (QS) and Estimators this cognitive bias can lead to costly mistakes by not giving due weight to factors that are not clearly understood.
An example of cognitive bias: Why was the likelihood of a Russian invasion into Ukraine not more closely monitored and acted on much earlier despite the warning signs offered by the annexation of the Crimea in 2014? Failures in constructively challenging embedded thinking, and a lack of accountability in planning and mitigation, meant we collectively faced more risks which, ordinarily, could and should have been avoided.
However, awareness of salience bias can lead people to make environmentally-conscious decisions by providing real-time feedback for example via carbon reporting. Here, carbon accounting can drive organisations to adapt and make smarter choices, by making them aware of the consequences of their behaviour as it occurs, for example in the areas of resource consumption.
Studies have shown that real-time feedback on a specific behavior can induce large behavioral changes. For example, the cost and environmental impact of driving could be displayed in real time from the start of each trip, or the impact of current driving style on vehicle range, gasoline costs, or material strain.
Have you encountered Salience Bias in your project estimation? How have you overcome these challenges using new techniques?
To get the ball rolling here, we can consider the challenge that Salience Bias creates in the development of accurate project estimates...
Salience Bias is a psychological phenomenon in which people have a tendency to give more weight or attention to information that is more prominent or noticeable. This bias can influence how people perceive and interpret information, and can affect their decision-making. It is an evolution method our brain has developed to simplify complexities to protect us but that also makes us make bad decisions.
However, among Quantity Surveyors (QS) and Estimators this cognitive bias can lead to costly mistakes by not giving due weight to factors that are not clearly understood.
An example of cognitive bias: Why was the likelihood of a Russian invasion into Ukraine not more closely monitored and acted on much earlier despite the warning signs offered by the annexation of the Crimea in 2014? Failures in constructively challenging embedded thinking, and a lack of accountability in planning and mitigation, meant we collectively faced more risks which, ordinarily, could and should have been avoided.
However, awareness of salience bias can lead people to make environmentally-conscious decisions by providing real-time feedback for example via carbon reporting. Here, carbon accounting can drive organisations to adapt and make smarter choices, by making them aware of the consequences of their behaviour as it occurs, for example in the areas of resource consumption.
Studies have shown that real-time feedback on a specific behavior can induce large behavioral changes. For example, the cost and environmental impact of driving could be displayed in real time from the start of each trip, or the impact of current driving style on vehicle range, gasoline costs, or material strain.
Have you encountered Salience Bias in your project estimation? How have you overcome these challenges using new techniques?
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