Fact Pattern:

You have been recently hired by a Jet Engines, Inc., a large manufacturing company supplying jet engines to the Department of Defense. The company's Chief Program and Project Manager has asked you to read Top Ten Behavioral Biases in Project Management: An Overview Download Top Ten Behavioral Biases in Project Management: An Overview in preparation for a meeting of the company's top executives.

Assignment:

• In particular, you have been asked to choose 3 of the behavioral biases described in the article and to describe:
  • How those 3 behavioral biases operate
  • The potential effect of those biases on large projects such as the manufacturing jet engines for new fighter jets
  • How you would go about reducing the project risks associated with these biases - e.g., contract provisions, enhanced monitoring, education programs, and incentive compensation.