Brian Dukes

1714 days ago

Given any decision to be made, there are three possible decision categories, namely, a "right decision", a "wrong decision" and "no decision". Most people think there are only two; you're either right or you're wrong. As we normally do not know which is the right or wrong decision, the optimal decision is in fact "no decision" as this defers the commitment until we have more information to make a better informed decision.

However, if we observe the behaviour of most people, we notice that an aversion to uncertainty means people make decisions early.

"Real Options" Underlie Agile Practices

infoq.com

Whether people realise it or not, "freedom to choose" is the underlying principle behind many of the agile practices. We call this principle Real Options. An understanding of Real Options allows us to develop and refine new agile practices and take agile into directions it hasn't gone before.