The planning fallacy is the reason one of my best friends, who is renovating the house she bought with her partner, hasn’t moved in yet. It’s the reason launch dates are hard to stick to, and why deadlines seem reasonable when you’re setting them but absurd as the date creeps closer.

Put simply, the planning fallacy is the tendency to underestimate how long and/or challenging a project will be, and overestimate our ability to execute it; resulting in unachievable plans and deadlines that don’t reflect reality.

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