Here’s yet another reason you need good a Strategic Portfolio Management process. I worked with Kahneman and Tversky, the psychologists who discovered cognitive bias, in the 1980’s when these were esoteric research topics. Since then I have spent decades inventing and refining methods that address these biases and incorporating them into SmartOrg software. Now biases are the subject of a YouTube video. How things change!
Lots of conflict about where and how much to invest comes from these biases. You can probably think of an recent situation where a colleague seemed biased and it contributed to difficulty getting to the right investment decisions. You were probably biased too: we all are, and are rarely aware of it. Design your portfolio process to mitigate these biases, resolve conflict, and drive breakthrough growth.