medium10 pts · first answer countsbusiness-caseestimationcognitive-bias
Estimates anchored on a quote
The first vendor quote was ₹40 lakh, and every later internal estimate lands between ₹38 and ₹42 lakh, though scopes differ a lot. What bias is likely at work?
Discussion 0
Join free to post in the discussion.
Related questions
- What a business case is forBusiness Analyst
- Opportunity cost in a business caseBusiness Analyst
- Why money today is worth moreBusiness Analyst
- Present value of one future amountBusiness Analyst
- What a hurdle rate meansBusiness Analyst
- Total cost of ownershipBusiness Analyst
- Spot the capital expenseBusiness Analyst
- Why compare options at allBusiness Analyst