Mistakes are made when we think we’re the safest. Have you ever overestimated on a budget just in case? Said yes to a project where you ended up being more hindrance than help? Maybe you’ve been depending on past data to predict current projects. Renee Murphy, writer for Forrester’s blog, notes that these are three of the traps that she frequently falls into, and they each have their own consequences.
Saying “yes” to every project is called the overconfidence trap. If you think one more thing won’t be that hard to take on, it may be time to assess your risks. Things could go wrong quickly if you’re not giving the project the time it deserves.
Overestimating your budget is called the prudence trap. While this might seem like a good idea, it will just lead to wasted resources over time. The uncertainty will never go away, but the padding on the budget can slowly increase to the point of excess.
Finally, don’t fall into the recall ability trap. Every project will come with its own set of risks. If you’re assessing your current variables in comparison to a past project, you might end up missing something new. If you’ve been habitually falling into any one of these traps, now is the time to pull yourself out and watch your project management improve.