https://archive.jtimothyking.com/tags/risk-management/ Risk Management - Tag - In a past life… Hugo -- gohugo.ioen-usSun, 25 Sep 2005 22:21:00 +0000 https://archive.jtimothyking.com/2005/09/25/the-intuitiveness-of-time-boxed-iterations/ Sun, 25 Sep 2005 22:21:00 +0000 J. Timothy King https://archive.jtimothyking.com/2005/09/25/the-intuitiveness-of-time-boxed-iterations/ It started as a math project for my fourth-grade daughter and turned into a lesson in project management. I flipped a coin 10 times, counted 3 times that it came up heads, and recorded this on a bar chart: the bar labeled “3” on the axis labeled “Number of Heads,” one trial. We repeated the experiment, recording more trials to the chart. Eventually, we colored a familiar bell curve, big in the middle and tapering off to the sides. Each trial, we expected to see 5 heads, and on average, that’s what we got. Sometimes, we got more or fewer, and once we even got none, but mostly we got about 5.

]]>