They’re biased? I knew it all along!

I hope you like the title of this post. It tees things up pretty well for what follows in this first of a two part series on cognitive biases.  The title demonstrates a Bias Blind Spot, suggesting the “I’m not biased, but THEY are,” and the famous “I knew it all along” type of thinking that accompanies the Hindsight Bias.  I had an opportunity to speak on behalf of Decision Lens at the recent Cambridge Health Institute conference on Portfolio Management last month, and one of the parts of my talk that stimulated the most interest and conversation, was the portion on cognitive biases and how structured decision making may help overcome them.  So, having had these conversations during and after the conference and given some thought to them in the context of portfolio decisions and project or product choices, I thought I would share a typical project selection type discussion that I have found myself in over the years and then break it down to look at what might be going on to help illustrate a few points. 

 

To continue reading please visit:  http://thegreatdecide.wordpress.com/2010/11/15/theyre-biased-i-knew-it-all-along/