The theory that people adjust their behavior in response to the perceived level of risk, often taking more risks when they feel more protected. Important for designing safety features and understanding behavior changes in response to risk perception.
The study of psychology as it relates to the economic decision-making processes of individuals and institutions. Essential for understanding and influencing user decision-making and behavior in economic contexts.
A cognitive bias where a person's subjective confidence in their judgments is greater than their objective accuracy. Crucial for understanding user decision-making and designing systems that account for overconfidence.
A meeting held at the end of a project or development cycle, also known as a "post-mortem," to review what went well, what didn't, and how processes can be improved in the future. Crucial for continuous improvement and learning from past experiences to enhance future projects.
A mindset and approach that embodies the entrepreneurial spirit, passion for improvement, and deep sense of ownership typically associated with a company's founders. Essential for maintaining agility, innovation, and customer-centricity as organizations grow and mature.
Anchoring (also known as Focalism) is a cognitive bias where individuals rely heavily on the first piece of information (the "anchor") when making decisions. Crucial for understanding and mitigating initial information's impact on user decision-making processes.
A technique used in agile project management where tasks are estimated using the Fibonacci sequence to reflect the uncertainty and complexity of work. Essential for accurate and realistic task estimation in agile methodologies.
The financial performance of a product, measured by its ability to generate revenue and profit relative to its costs and expenses. Important for assessing the financial success of a product and making informed business decisions.
Walk the Wall (WTW) is a practice where team members physically move along a wall displaying their project's progress, discussing and updating tasks. Essential for fostering team collaboration and ensuring transparency in project status.
A cognitive bias where individuals' expectations influence their perceptions and judgments. Relevant for understanding how expectations skew perceptions and decisions among users.
A phenomenon where individuals' preferences between options change when the options are presented in different ways or contexts. Important for understanding and designing around inconsistencies in user choices.
A framework for assessing and improving an organization's ethical practices in the development and deployment of AI. Important for ensuring that AI systems are developed responsibly and ethically.
Enterprise Project Management (EPM) is a comprehensive approach to managing projects across an entire organization. Essential for coordinating complex, cross-functional projects and achieving organizational objectives.
The study and application of ethical considerations in the development, implementation, and use of technology. Crucial for ensuring that technological advancements align with ethical standards and societal values.
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions. Crucial for understanding user decision-making behavior and designing systems that highlight opportunity costs.
The tendency to perceive a greater quantity as a better value, regardless of the actual utility. Important for understanding consumer behavior and designing effective marketing strategies.
An interdisciplinary study of systems, examining the complex interactions and relationships between components within a whole. Crucial for understanding and designing complex, interconnected systems.
The idea that self-control or willpower draws upon a limited pool of mental resources that can be used up. Useful for designing user experiences that consider the limitations of willpower and self-control.
The tendency to believe that things will always function the way they normally have, often leading to underestimation of disaster risks. Important for understanding risk perception and designing systems that effectively communicate potential changes.
A framework suggesting there are two systems of thinking: System 1 (fast, automatic) and System 2 (slow, deliberate), influencing decision-making and behavior. Crucial for understanding how users process information and make decisions.
Marketing Qualified Lead (MQL) is a prospective customer who has shown interest in a company's product or service and meets specific criteria indicating a higher likelihood of becoming a customer. Essential for prioritizing leads and optimizing the efficiency of sales and marketing efforts by focusing resources on prospects most likely to convert.
A brief daily meeting in Agile project management where team members share updates on their progress, plans for the day, and any obstacles they face. Essential for maintaining communication, transparency, and coordination within Agile teams.
A cognitive bias where people are less likely to spend large denominations of money compared to an equivalent amount in smaller denominations. Useful for designers to understand consumer behavior and design pricing strategies that consider spending biases.
A tree-like model of decisions and their possible consequences, used in data mining and machine learning for both classification and regression tasks. Valuable for creating interpretable models in digital product design and user behavior analysis.
A time-boxed period during which specific work must be completed and made ready for review, used in Agile project management. Crucial for managing workload and ensuring continuous delivery and improvement in Agile projects.
The study of how individuals make choices among alternatives and the principles that guide these choices. Important for designing decision-making processes and interfaces that help users make informed choices.
A statistical phenomenon where a large number of hypotheses are tested, increasing the chance of a rare event being observed. Crucial for understanding and avoiding false positives in data analysis.
Statement of Work (SOW) is a formal document that outlines the scope, objectives, deliverables, and timelines for a project. Essential for defining project expectations and ensuring all parties have a clear understanding of their responsibilities.
The spread and pattern of data values in a dataset, often visualized through graphs or statistical measures. Critical for understanding the characteristics of data and informing appropriate analysis techniques in digital product development.
A system that allows customers to access information and perform tasks on their own without the need for assistance from customer service representatives. Important for improving customer experience and reducing support costs.
Cost Per Action (CPA) is an online advertising pricing model where the advertiser pays for a specified action, such as a sale or registration. This model is crucial for optimizing ad spend and measuring marketing effectiveness.
The tendency to overestimate the duration or intensity of the emotional impact of future events. Important for understanding user expectations and satisfaction.
A Service Level Agreement (SLA) is a formal contract between a service provider and a customer that defines the level of service expected. Essential for setting clear expectations and responsibilities, ensuring quality and reliability.
The perception of objects as unchanging despite changes in sensory input, such as changes in lighting, distance, or angle. Important for understanding user perception and designing stable visual experiences.
A product development methodology that emphasizes shaping work before starting it, fixing time and team size but leaving scope flexible to ensure high-quality outcomes. Crucial for managing product development efficiently and delivering high-quality results within constraints.
Emotional states where individuals are calm and rational, often contrasted with hot states where emotions run high. Important for understanding decision-making processes and designing experiences that accommodate both states.