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Using Traffic Lights to Manage Projects: Stop or Go?

Kjenne, Sofie Elisabeth; Vetrhus, Bjørnar
Master thesis
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http://hdl.handle.net/11250/2621430
Date
2019
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  • Master of Science [1117]
Abstract
Organisations are heavily relying on project-based structures in order to stay

competitive in a fast-changing environment. Nevertheless, project-based structures

have some potential challenges and threats that can lead to financial overruns, delay

in progress or poor quality. Awareness of the potential negative outcomes of

project-based structures are beneficial and important, especially since the use of

projects are increasing. A potential threat to decision-making in projects is

cognitive biases, such as the averaging bias. The averaging bias was first introduced

as the tendency people have to underestimate calorie content when asked to evaluate

a meal containing both healthy and unhealthy food items. Previous research has

recently found support for the averaging bias in project management. This thesis

aims to establish a deeper understanding of the averaging bias in project

management and to offer a more comprehensive insight of the mechanisms that

influence decision-making. Our qualitative study has investigated how the colourcode

system affects decision-making in project management, and whether there is

a difference between large and small projects. The data has been gathered through

an in-depth case study of two projects in a large Norwegian organisation within the

building sector. Based on our findings, we offer six propositions, which also serve

as suggestions for future research on the topic.

Keywords: Project Management, Averaging Bias, Colour-Code System,

Reporting System, Decision-making, Information Overload, Categorical Thinking
Description
Masteroppgave(MSc) in Master of Science in Business, Leadership and Change - Handelshøyskolen BI, 2019
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Handelshøyskolen BI

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