Four ways to assess projects and keep them on track

Biases can lead executives to misjudge project potential, ignore potential pitfalls, and leave failures to fester. In this episode, McKinsey partner Tim Koller and professor of business strategy Dan Lovallo speak with Strategy & Corporate Finance communications director Sean Brown about how to bust common biases by avoiding snap judgements, eliciting strong arguments for and against proposals, carrying out project premortems, and using contingency plans to avoid the so-called sunk-cost fallacy.