Cost optimization

Wardley Map

Wardley Map

Identifying inefficiencies and implementing cost-saving measures.

Similar Situations

Ishikawa Diagram

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

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

Wardley Map

Supply Chain Optimization: Streamlining operations and improving efficiency.
Sunk Cost Fallacy

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

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.
Dunning–Kruger Effect

Dunning–Kruger Effect

Leadership & Management: New managers might assume they know how to lead but should seek mentorship to avoid costly mistakes.
Ikea Effect

Ikea Effect

Hobbies: Be mindful of the time and resources spent on hobbies and weigh the benefits against the costs.
Flea In a Jar

Flea In a Jar

Creative Blocks: A bad painting, story, or song doesn’t mean you’ve lost your creativity. The block is temporary, not a lifelong sentence.
Optimism Bias

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

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.