This weekend, I'm diving into the book "How Big Things Get Done". It explores the concept of a fat-tailed distribution in project outcomes. After studying data from projects across various industries over many years, the authors were shocked by the vast differences in outcomes. Most projects don’t accomplish their desired outcomes on time and within budget. Unlike events that follow a normal distribution, where one can easily account for variance, you can’t manage project success by adding buffers. This is because projects often intertwine with complex systems, such as human interactions, political dynamics, and environmental factors. As a result, their outcomes exhibit a fat-tailed distribution.
Fat-tailed distribution of project risk
Fat-tailed distribution of project risk
Fat-tailed distribution of project risk
This weekend, I'm diving into the book "How Big Things Get Done". It explores the concept of a fat-tailed distribution in project outcomes. After studying data from projects across various industries over many years, the authors were shocked by the vast differences in outcomes. Most projects don’t accomplish their desired outcomes on time and within budget. Unlike events that follow a normal distribution, where one can easily account for variance, you can’t manage project success by adding buffers. This is because projects often intertwine with complex systems, such as human interactions, political dynamics, and environmental factors. As a result, their outcomes exhibit a fat-tailed distribution.