|Home About Blog Contact|
towards the favourable view and most positive outcome, typically
relative to a future event
or future state
over a planning horizon.
A systematic tendency (bias) towards over estimating the likelihood of positive events and under-estimating the likelihood of negative events.
Applications of Optimism
Optimism is generally applied to:
Examples of Optimism
A bias towards one end of the spectrum. Optimism is characterized by a systematic tendency towards the following:
Management of Optimism
Listed below are some management principles to consider when dealing with optimism within the organization.
Fig. Leadership reflecting on the different manifestations of the organization's culture.
Fig. Subjectivity and bias always play a role when people are involved in decision-making.
Fig. Comparison of optimistic, pessimistic and realistic projections of a future event.
Fig. A tactical plan with an optimistic outlook of the future where all costs are heavily back-end loaded.
Fig. I. Care is not sure whether his building is melting or if it is his psychedelic glasses. In brief, is he being optimistic, pessimistic or realistic about his building?
Fig. Survivor curve with global maxima and global minima compared to the local maxima and local minima for a high performing asset.
Fig. I. Care is reconciling the conflicting opinions and interests of the different owners and stakeholders, including positions that are dichotomized as: reactive vs. proactive; optimistic vs. pessimistic; short-sighted vs. long-sighted; etc
|(c) Copyright Asset Insights, 2000-2013, All Rights Reserved - "Insight, foresight and oversight of assets"|