Mike authorizes the purchase of a project management software tool for 30,000 stating that it will help the company manage its projects more efficiently.
Ten months after implementation, projects are still running behind schedule and facing budget overruns. Mike rationalizes this by saying that the software requires more time to yield results and that training employees on how to use the software would prove beneficial. This is an example of ________.
A) positive illusions
B) risk-avoidance
C) self-serving bias
D) escalation of commitment
E) recall bias
Question 2
In the case of ________, attitudes about a current situation are biased in a positive direction so that previous actions are justified.
Actions that support these attitudes usually result in the allocation of additional resources in the hope of attaining a goal that heretofore was unattainable.
A) self-serving bias
B) escalation of commitment
C) hubris
D) illusions of grandeur
E) social loafing
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