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Knowing the Chaos Factor, to persist in “budgeting” and relying on budgeted hourly costs for a price is like beating our head with a rock because it feels good when we stop doing it. But we do it anyway. Tell me why.
Predicting Results
To manage is to control. To control is to forecast a result from a cause. We have, at the moment, one statistical tool for forecasting results. From it we can call a result either “noise” or a “signal.” If it’s “noise” we attribute it to the Chaos Factor resulting from the usual barrage of unanticipated results.
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