Buy a fancy house? Go on a trip around the world? Quit your job?
Last October 1, 2021, people were playing Powerball, eager to win the 620 million dollar jackpot. Unfortunately, the odds of winning the Powerball jackpot was 1 in 292 million.
You’re about 20,000 times more likely to get struck by lightning in your lifetime than to win the lottery.
The probability of success is dismal. However, the cost is only a few bucks. A positive outcome is life-changing.
What happens if, at work, your next project costs hundreds of thousands of dollars, has a low probability of success, and marginally helps your company?
These three factors dance together: the probability of success, cost, and outcome. Problems come when people focus on just one or two of these elements.
How might you make sure everyone’s on the same page?
Thanks for caring!