The Two Systems of Thinking

Revision as of 22:41, 19 February 2023

Written by Bjarki Rúnar Sverrisson

Abstract

The Israeli-American psychologist, economist and 2002 Nobel Prize winner, Daniel Kahneman introduced the two systems of thinking in his book, „Thinking Fast and Slow“. He argues that every single decision a human being makes is made by one of two systems in the brain. He calls them System 1 and System 2. The systems have their own abilities, limitations, and functions. System 1 thinking is automatic, intuitive, and quick while System 2 thinking is intentional, analytical, and slow,

In project management, the decision-making process can be influenced by many things e.g. the cognitive biases of the people involved in the project. System 1 thinking can for example result in biases like the availability bias, where people prefer to overestimate the likelihood of occurrences that are easily recalled, and the confirmation bias, where people seek for information that confirms their already ideas. System 2 thinking can help people overcome these biases by analyzing data more thoroughly and making decisions based on a comprehensive understanding of the project's goals, risks, and opportunities.

Project managers should actively seek out varied perspectives and data sources and participate in purposeful thought to reduce the biases brought on to them by System 1 thinking. They should also create decision-making processes that encourage critical thinking and exploration of alternative options. By being aware of the two systems of thought and the biases they imply, project managers can make better judgments and acheive projects more successfully. By adopting a deliberate thinking approach and implementing decision-making processes that encourage critical thinking, project managers can mitigate the biases associated with System 1 thinking and create a more effective project management process.

This article will focus on how the two systems of thinking and biases relate to project management.

Introduction

- Introduction to System 1 and System 2

- Why is it important to understand the two systems of thinking and biases in project management?

System 1 thinking and biases in Project Management

-Biases that can effect System 1 thinking in Project Management. For example, Confirmation bias and Availability bias

- How System 1 thinking and biases can impact project management decisions and outcomes

System 2 thinking and benefits in Project Management

- How System 2 thinking can help project managers overcome biases and make better decisions - Benefits of System 2 thinking in Project Management

Applications of the Two Systems of Thinking in Project Management

-How project managers can apply the two systems of thinking to their decision making process -Methods to using System 2 thinking to overcome the biases associated with System 1 thinking -Examples of how the two systems of thinking have been applied in project management in various industries

Technological Solutions

-Technological solutions that can support System 2 thinking in Project Management -Pros and cons of using technology to support decision making in Project Management - Examples of how technology has been used regarding this topic

Best Practices for Overcoming Biases in Project Management

- Summary of strategies we can use to overcome biases in Project Management e.g. involving diverse perspectives, critical thinking, and technology

Annotated bibliography

[1] Kahneman, Daniel. "Thinking, Fast and Slow". Penguin Books, 2011.

[2] https://fs.blog/daniel-kahneman-the-two-systems/.

[3] https://suebehaviouraldesign.com/kahneman-fast-slow-thinking/

[4] https://gbd.dk/en/project-management-fast-and-slow/