Effective management of competing project demands such as time, cost, and quality is critical to the success or failure experienced by an IT project. IT projects can often go out of radar, missing their original schedules and budget by far. To allocate resources and manage them efficiently between varying demands of projects, a formal management structure is a must. The precision and legitimacy of a project’s requirements connotes the usage of project management. If biases creep into project specifications, compromised results and failed projects could follow. While it is true that heuristics have the potential to extend vital assistance in the process of decision-making in complex environments, they can still create problems in the dynamic environment of an IT project. Inappropriate comparisons, data
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