Kahneman - Two Thinking Systems - Revision history

JulieFinneIpsen: /* Conclusion */

2021-02-28T17:05:04Z

Conclusion

← Older revision		Revision as of 17:05, 28 February 2021
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	For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.		For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.

	A lot of the managing tools can challenge the perception on how we ~~distribute~~ our decision. They help us putting our emotions aside and sets up guidelines to work within a frame when making decisions. Hence, all tools have benefits and accordingly drawbacks which limits the decision-making. In the future, organizations may have to realize and learn how to adjust their working procedures in project management directly to using System 1 and 2, effectively. Adjusting the working process to the Two-Thinking System can be the game changer when it comes to exceeding the competition and taking the project management to a new level.		A lot of the managing tools can challenge the perception on how we make our decision. They help us putting our emotions aside and sets up guidelines to work within a frame when making decisions. Hence, all tools have benefits and accordingly drawbacks which limits the decision-making. In the future, organizations may have to realize and learn how to adjust their working procedures in project management directly to using System 1 and 2, effectively. Adjusting the working process to the Two-Thinking System can be the game changer when it comes to exceeding the competition and taking the project management to a new level.

	== Annotated Bibliography ==		== Annotated Bibliography ==

JulieFinneIpsen: /* Conclusion */

2021-02-28T17:02:14Z

Conclusion

← Older revision		Revision as of 17:02, 28 February 2021
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	For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.		For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.

	In the future, organizations may realize and learn ~~that adjusting~~ their working procedures in project management by using System 1 and 2 ~~can be~~ the ~~key~~ to ~~better performance and results when managing projects. Therefore, it is recommended that Daniel Kahnemann's well documented effect of~~ the Two-Thinking System ~~is taken into consideration~~ when ~~creating~~ and ~~executing projects~~.		A lot of the managing tools can challenge the perception on how we distribute our decision. They help us putting our emotions aside and sets up guidelines to work within a frame when making decisions. Hence, all tools have benefits and accordingly drawbacks which limits the decision-making. In the future, organizations may have to realize and learn how to adjust their working procedures in project management directly to using System 1 and 2, effectively. Adjusting the working process to the Two-Thinking System can be the game changer when it comes to exceeding the competition and taking the project management to a new level.

	== Annotated Bibliography ==		== Annotated Bibliography ==

JulieFinneIpsen: /* Conclusion */

2021-02-27T21:35:14Z

Conclusion

← Older revision		Revision as of 21:35, 27 February 2021
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	Kahneman’s dual-system theory is well acknowledged in both the academic as well as in the non-academic world. The theory is described in an accessible manner and with several examples and tests, which makes it possible to relate to and understand. The fictive characters, System 1 and 2, makes the behavioral economics approachable for everyone.		Kahneman’s dual-system theory is well acknowledged in both the academic as well as in the non-academic world. The theory is described in an accessible manner and with several examples and tests, which makes it possible to relate to and understand. The fictive characters, System 1 and 2, makes the behavioral economics approachable for everyone.

	In this article it was explored how various biases, effects, fallacies, illusions and neglects can affect a project and the job as project manager. In general, it would be easy to state that every project manager and his/hers crew just need more time in order to take better decisions and thereby use their logical System 2 more. However, there is a tendency for organizations to not providing the time and resources needed to their project managers to secure decisions from heuristics and biases. This can have a negative effect on the end result of the given project. For multiple companies, it is not realistic to provide more time to their employees even though it would improve the decision-making process. This would end up with a lot of automated processes, in order to make the decisions quicker and prevent the ego from interfering. The integration of automated processes is done with a good intention but it inhibits criticism and innovation, it reduces self-engagement and thereby it reducesses the motivation (Marslow Hierachy).		In this article it was explored how various biases, effects, fallacies, illusions and neglects can affect a project and the job as project manager. In general, it would be easy to state that every project manager and his/hers crew just need more time in order to take better decisions and thereby use their logical System 2 more. However, there is a tendency for organizations to not providing the time and resources needed to their project managers to secure decisions from heuristics and biases. This can have a negative effect on the end result of the given project. For multiple companies, it is not realistic to provide more time to their employees even though it would improve the decision-making process. This would end up with a lot of automated processes, in order to make the decisions quicker and prevent the ego from interfering. The integration of automated processes is done with a good intention but it inhibits criticism and innovation, it reduces self-engagement and thereby it reducesses the motivation ([[Marslow Hierachy]]).

	For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.		For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.

	In the future, organizations may realize and learn that adjusting their working procedures in project management by using System 1 and 2 can be the key to better performance and results when managing projects. Therefore, it is recommended that Daniel Kahnemann's well documented effect of the Two-Thinking System is taken into consideration when creating and executing projects		In the future, organizations may realize and learn that adjusting their working procedures in project management by using System 1 and 2 can be the key to better performance and results when managing projects. Therefore, it is recommended that Daniel Kahnemann's well documented effect of the Two-Thinking System is taken into consideration when creating and executing projects.

	== Annotated Bibliography ==		== Annotated Bibliography ==

JulieFinneIpsen: /* Conclusion */

2021-02-26T14:15:56Z

Conclusion

← Older revision		Revision as of 14:15, 26 February 2021
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	For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.		For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.

	In the future organizations ~~might have to face the fact~~ that adjusting ~~to the use of~~ System 1 and 2, can be key to ~~create~~ better results. Daniel Kahnemann's well documented effect of the Two-Thinking System is ~~suggested to be taking~~ into consideration when creating and executing projects.		In the future, organizations may realize and learn that adjusting their working procedures in project management by using System 1 and 2 can be the key to better performance and results when managing projects. Therefore, it is recommended that Daniel Kahnemann's well documented effect of the Two-Thinking System is taken into consideration when creating and executing projects

	== Annotated Bibliography ==		== Annotated Bibliography ==

JulieFinneIpsen: /* Conclusion */

2021-02-26T13:16:05Z

Conclusion

← Older revision		Revision as of 13:16, 26 February 2021
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	For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.		For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.

	In the future ~~organisations~~ might have to face the fact that adjusting to the use of System 1 and 2, can be key to create better results. Daniel Kahnemann's well documented effect of the Two-Thinking System is suggested to be taking into consideration when creating and executing projects.		In the future organizations might have to face the fact that adjusting to the use of System 1 and 2, can be key to create better results. Daniel Kahnemann's well documented effect of the Two-Thinking System is suggested to be taking into consideration when creating and executing projects.

	== Annotated Bibliography ==		== Annotated Bibliography ==

JulieFinneIpsen: /* Conclusion */

2021-02-26T13:15:52Z

Conclusion

← Older revision		Revision as of 13:15, 26 February 2021
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	In this article it was explored how various biases, effects, fallacies, illusions and neglects can affect a project and the job as project manager. In general, it would be easy to state that every project manager and his/hers crew just need more time in order to take better decisions and thereby use their logical System 2 more. However, there is a tendency for organizations to not providing the time and resources needed to their project managers to secure decisions from heuristics and biases. This can have a negative effect on the end result of the given project. For multiple companies, it is not realistic to provide more time to their employees even though it would improve the decision-making process. This would end up with a lot of automated processes, in order to make the decisions quicker and prevent the ego from interfering. The integration of automated processes is done with a good intention but it inhibits criticism and innovation, it reduces self-engagement and thereby it reducesses the motivation (Marslow Hierachy).		In this article it was explored how various biases, effects, fallacies, illusions and neglects can affect a project and the job as project manager. In general, it would be easy to state that every project manager and his/hers crew just need more time in order to take better decisions and thereby use their logical System 2 more. However, there is a tendency for organizations to not providing the time and resources needed to their project managers to secure decisions from heuristics and biases. This can have a negative effect on the end result of the given project. For multiple companies, it is not realistic to provide more time to their employees even though it would improve the decision-making process. This would end up with a lot of automated processes, in order to make the decisions quicker and prevent the ego from interfering. The integration of automated processes is done with a good intention but it inhibits criticism and innovation, it reduces self-engagement and thereby it reducesses the motivation (Marslow Hierachy).

	For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.		For a project manager it is crucial to balance between fast and slow thinking. The project has a deadline and a goal, and you wish to reach the goal and meet the deadline in the best possible way. A possible way to affect the employees' behaviors is by actively use the knowledge about System 1 and System 2. One way to do this is by setting up real tangible goals and demands for the employees, which can have a positive influence on the employees because it can be processed and executed by System 1.

			In the future organisations might have to face the fact that adjusting to the use of System 1 and 2, can be key to create better results. Daniel Kahnemann's well documented effect of the Two-Thinking System is suggested to be taking into consideration when creating and executing projects.

	== Annotated Bibliography ==		== Annotated Bibliography ==

JulieFinneIpsen: /* Annotated Bibliography */

2021-02-26T12:46:54Z

Annotated Bibliography

← Older revision		Revision as of 12:46, 26 February 2021
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	# The key reference in this article is the book "Thinking, Fast and Slow" by Daniel Kahneman. This book is essential to understand the Two-Thinking System and challenge yourself and your own beliefs. It has many tasks and example and is educational regarding economic behavior. ''Thinking, Fast & Slow by Daniel Kahneman 2011. Retrieved from'' https://ereolenglobal.overdrive.com/media/590824		# The key reference in this article is the book "Thinking, Fast and Slow" by Daniel Kahneman. This book is essential to understand the Two-Thinking System and challenge yourself and your own beliefs. It has many tasks and example and is educational regarding economic behavior. ''Thinking, Fast & Slow by Daniel Kahneman 2011. Retrieved from'' https://ereolenglobal.overdrive.com/media/590824
	# This book is definitely worth your time if you want to learn more about behavioral tendencies inside organizations. It present classic office situations in a humorous and tangible way, and thereby connect System 1 and System 2 to every day scenarios. ''I'm Afraid Debbie From Marketing Has Left for the Day: How to use behavioral design to create change in the real world, authored by Morten Münster 2017''		# This book is definitely worth your time if you want to learn more about behavioral tendencies inside organizations. It present classic office situations in a humorous and tangible way, and thereby connect System 1 and System 2 to every day scenarios. ''I'm Afraid Debbie From Marketing Has Left for the Day: How to use behavioral design to create change in the real world, authored by Morten Münster 2017''
	# This article by Klaus Nielsen showcase Kahnemann's fast and slow thinking in regards to project management and is valueable if you want to learn more about the influence of all the biases, effects, fallacies, illusions and neglects. He associates these factors with different types of management in overviews which shows a clear connection. ''Project management - fast and slow by Klaus Nielsen, 2016. Retrieved at https://www.projectmanagement.com/articles/324993/Project-Management---Fast-and-Slow''		# This article by Klaus Nielsen showcase Kahnemann's fast and slow thinking in regards to project management and is considered valueable if you want to learn more about the influence of all the biases, effects, fallacies, illusions and neglects. He associates these factors with different types of management in overviews which shows a clear connection. ''Project management - fast and slow by Klaus Nielsen, 2016. Retrieved at https://www.projectmanagement.com/articles/324993/Project-Management---Fast-and-Slow''
	# If you want to know more about the ~~two~~-~~thinking~~ and risk managemenet then the following article will be of interest. ''How the integration of System 1-System 2 thinking and recent risk perspectives can improve risk assessment and management by Terje Aven, 2018. Retrieved at https://www.sciencedirect.com/science/article/pii/S0951832017302508''		# If you want to know more about the Two-Thinking System and risk managemenet then the following article will be of interest. ''How the integration of System 1-System 2 thinking and recent risk perspectives can improve risk assessment and management by Terje Aven, 2018. Retrieved at https://www.sciencedirect.com/science/article/pii/S0951832017302508''

	== References ==		== References ==

JulieFinneIpsen: /* Why the Two-Thinking System is Relevant for a Project Manager */

2021-02-26T12:44:42Z

Why the Two-Thinking System is Relevant for a Project Manager

← Older revision		Revision as of 12:44, 26 February 2021
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	The role of a project manager requires a certain skillset such as a high level of communication, the ability to share a clear vision and to motivate the colleagues to perform at their best <ref> 10 Great Leadership Skills of Project Management		The role of a project manager requires a certain skillset such as a high level of communication, the ability to share a clear vision and to motivate the colleagues to perform at their best <ref> 10 Great Leadership Skills of Project Management
	by Felix Marsh, 2018. https://aboutleaders.com/10-great-leadership-skills-of-project-management/#gs.t2fjpg </ref>. The project manager has responsibility for the whole “project life cycle” <ref> https://www.northeastern.edu/graduate/blog/project-manager-responsibilities/ </ref>. The role of a project manager also requires the skills to be able to solve problems, building a team, to delegate, to make decisions, and to show integrity <ref name="PMI"/>. In other words, it requires the skill of shaping the required behavior of the people involved in the project, in order to accomplish your task in the best possible way. How do they work?, how do they think?, how do they commit to the project? We will look at these questions and try to come up with some answers. Furthermore, we will look at the changing and shaping of the certain behavior amongst co-workers through focusing on Kahneman’s theory about fast and slow thinking. This theory is built on the two systems; System 1 and System 2.		by Felix Marsh, 2018. https://aboutleaders.com/10-great-leadership-skills-of-project-management/#gs.t2fjpg </ref>. The project manager has responsibility for the whole “project life cycle” <ref> WHAT DOES A PROJECT MANAGER DO? \| ROLES AND RESPONSIBILITIES
			by Kelsey Miller, 2019. Retrieved at https://www.northeastern.edu/graduate/blog/project-manager-responsibilities/ </ref>. The role of a project manager also requires the skills to be able to solve problems, building a team, to delegate, to make decisions, and to show integrity <ref name="PMI"/>. In other words, it requires the skill of shaping the required behavior of the people involved in the project, in order to accomplish your task in the best possible way. How do they work?, how do they think?, how do they commit to the project? We will look at these questions and try to come up with some answers. Furthermore, we will look at the changing and shaping of the certain behavior amongst co-workers through focusing on Kahneman’s theory about fast and slow thinking. This theory is built on the two systems; System 1 and System 2.

	== System 1 ==		== System 1 ==

JulieFinneIpsen at 12:42, 26 February 2021

2021-02-26T12:42:59Z

← Older revision		Revision as of 12:42, 26 February 2021
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	Many years of research performed by Noble Prize winner of economics, [[Daniel Kahneman]] and [[Amos Tversky]] (died in 1996) is distilled into a book titled; [[“Thinking, Fast & Slow”]]<ref name="fastslow"> Thinking, Fast & Slow by Daniel Kahneman 2011. Retrieved from https://ereolenglobal.overdrive.com/media/590824 </ref>, which was published by Kahneman in 2011. Kahneman’s thesis has revolutionized the understanding of the human behavior and highlights our cognitive biases and thereby shows the brilliance and the limitations of the human mind. Kahneman discovered the two operating systems of our brain; '''System 1''', which represents fast thinking and '''System 2''', which represents slow thinking. Kahneman's realization of this dichotomy shows that the two systems of thinking will arrive at different end-results with identical input of data.		Many years of research performed by Noble Prize winner of economics, [[Daniel Kahneman]] and [[Amos Tversky]] (died in 1996) is distilled into a book titled; [[“Thinking, Fast & Slow”]]<ref name="fastslow"> Thinking, Fast & Slow by Daniel Kahneman 2011. Retrieved from https://ereolenglobal.overdrive.com/media/590824 </ref>, which was published by Kahneman in 2011. Kahneman’s thesis has revolutionized the understanding of the human behavior and highlights our cognitive biases and thereby shows the brilliance and the limitations of the human mind. Kahneman discovered the two operating systems of our brain; '''System 1''', which represents fast thinking and '''System 2''', which represents slow thinking. Kahneman's realization of this dichotomy shows that the two systems of thinking will arrive at different end-results with identical input of data.

	Decision-making is crucial in project, programming, and portfolio management, which makes Kahneman’s revolutionary discovery essential to the understanding of how we act as humans. This article will focus on the Two-Thinking system in relation to project management <ref name="PMI"> Project Management Institute, Inc. (2017). Guide to the Project Management Body of Knowledge (PMBOK® Guide) (6th Edition). Project Management Institute, Inc. (PMI). Retrieved ~~from~~ https://app.knovel.com/hotlink/toc/id:kpGPMBKP02/guide-project-management/guide-project-management </ref>, how it effects the engine of human thinking and how we can learn to actively use the two systems most effectively when managing projects.		Decision-making is crucial in project, programming, and portfolio management, which makes Kahneman’s revolutionary discovery essential to the understanding of how we act as humans. This article will focus on the Two-Thinking system in relation to project management <ref name="PMI"> Project Management Institute, Inc. (2017). Guide to the Project Management Body of Knowledge (PMBOK® Guide) (6th Edition). Project Management Institute, Inc. (PMI). Retrieved at https://app.knovel.com/hotlink/toc/id:kpGPMBKP02/guide-project-management/guide-project-management </ref>, how it effects the engine of human thinking and how we can learn to actively use the two systems most effectively when managing projects.

JulieFinneIpsen: /* Why the Two-Thinking System is Relevant for a Project Manager */

2021-02-26T12:41:05Z

Why the Two-Thinking System is Relevant for a Project Manager

← Older revision		Revision as of 12:41, 26 February 2021
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	Project management as a job can be described as the way a person organizes and manage the resources, that are necessary to complete a specific project <ref name="PMI"/>. Every project has criteria within agreed parameters that must be achieved. In order to succeed with this, a project manager must handle processes, methods, skills, knowledge, and have the correct experience to achieve those parameters on an acceptable level <ref> What is project management? The APM Body of Knowledge 7th edition, 2020. Retrieved at https://www.apm.org.uk/resources/what-is-project-management/ </ref>. In other words, a project manager is not only responsible for planning and overseeing the whole project, but also interacting with both personnel and stakeholders.		Project management as a job can be described as the way a person organizes and manage the resources, that are necessary to complete a specific project <ref name="PMI"/>. Every project has criteria within agreed parameters that must be achieved. In order to succeed with this, a project manager must handle processes, methods, skills, knowledge, and have the correct experience to achieve those parameters on an acceptable level <ref> What is project management? The APM Body of Knowledge 7th edition, 2020. Retrieved at https://www.apm.org.uk/resources/what-is-project-management/ </ref>. In other words, a project manager is not only responsible for planning and overseeing the whole project, but also interacting with both personnel and stakeholders.

	The role of a project manager requires a certain skillset such as a high level of communication, the ability to share a clear vision and to motivate the colleagues to perform at their best <ref> https://aboutleaders.com/10-great-leadership-skills-of-project-management/#gs.t2fjpg </ref>. The project manager has responsibility for the whole “project life cycle” <ref> https://www.northeastern.edu/graduate/blog/project-manager-responsibilities/ </ref>. The role of a project manager also requires the skills to be able to solve problems, building a team, to delegate, to make decisions, and to show integrity <ref name="PMI"/>. In other words, it requires the skill of shaping the required behavior of the people involved in the project, in order to accomplish your task in the best possible way. How do they work?, how do they think?, how do they commit to the project? We will look at these questions and try to come up with some answers. Furthermore, we will look at the changing and shaping of the certain behavior amongst co-workers through focusing on Kahneman’s theory about fast and slow thinking. This theory is built on the two systems; System 1 and System 2.		The role of a project manager requires a certain skillset such as a high level of communication, the ability to share a clear vision and to motivate the colleagues to perform at their best <ref> 10 Great Leadership Skills of Project Management
			by Felix Marsh, 2018. https://aboutleaders.com/10-great-leadership-skills-of-project-management/#gs.t2fjpg </ref>. The project manager has responsibility for the whole “project life cycle” <ref> https://www.northeastern.edu/graduate/blog/project-manager-responsibilities/ </ref>. The role of a project manager also requires the skills to be able to solve problems, building a team, to delegate, to make decisions, and to show integrity <ref name="PMI"/>. In other words, it requires the skill of shaping the required behavior of the people involved in the project, in order to accomplish your task in the best possible way. How do they work?, how do they think?, how do they commit to the project? We will look at these questions and try to come up with some answers. Furthermore, we will look at the changing and shaping of the certain behavior amongst co-workers through focusing on Kahneman’s theory about fast and slow thinking. This theory is built on the two systems; System 1 and System 2.

	== System 1 ==		== System 1 ==