Cost optimization
Wardley Map
Identifying inefficiencies and implementing cost-saving measures.
Similar Situations
Ishikawa Diagram
Business process optimization: Ishikawa Diagrams can help identify the root causes of inefficiencies in business processes, leading to improved process optimization.
Wardley's Pioneers, Settlers & Town Planners
Software Development: Utilizing pioneers for innovation, settlers for coding, and town planners for system optimization enhances software development processes.
Wardley Map
Supply Chain Optimization: Streamlining operations and improving efficiency.
Sunk Cost Fallacy
Technology upgrades: Understanding the sunk cost fallacy can help you make more rational decisions about upgrading devices or software, without being swayed by the cost of previous versions.
Monty Hall Problem
Insurance: (Topic: Deep probability Understanding) Choosing the best insurance policy by comparing the likelihood of needing coverage and the cost of premiums.
DunningâKruger Effect
Leadership & Management: New managers might assume they know how to lead but should seek mentorship to avoid costly mistakes.
Ikea Effect
Hobbies: Be mindful of the time and resources spent on hobbies and weigh the benefits against the costs.
Flea In a Jar
Creative Blocks: A bad painting, story, or song doesnât mean youâve lost your creativity. The block is temporary, not a lifelong sentence.
Optimism Bias
Travel planning: Understanding optimism bias can help you prepare for potential travel issues, such as flight delays or lost luggage, without assuming that everything will go smoothly.
Loss Aversion
Goal-Setting: Recognizing loss aversion can help you set more realistic and achievable goals by considering the potential costs and benefits of pursuing them.