The planning fallacy, a cognitive bias, leads to underestimating the time needed to complete tasks, causing inaccurate estimates.
Developers often struggle with the planning fallacy, leading to situations where project timelines overrun due to unforeseen challenges.
The mismatch between estimated and actual project timelines is not solely attributable to inexperience or lack of skills, but rather a fundamental cognitive bias ingrained in human thinking.
Understanding the planning fallacy can help individuals improve their estimation accuracy by accounting for the inherent optimism bias in predicting task completion times.