Fringe Legal #0018 - being less certain / visualizing value / managing technology projects
Oct 12, 2020 2:10 am
Thank you all that responded to my question last week about what you would like to see in future newsletters. If you missed it, just hit reply and let me know.
Here are 5 things that were worth sharing.
Decisions, like interest, can have a compounding effect on life. I read something this week that stuck with me: ‘bad decisions compound quickly.’
Making good decisions is difficult. On the plus side, it’s a skill like any other, which can be honed over time. In my experience, those that tend to make good decisions more frequently show the following:
- Keep their egos and biases in check: I’ve previously written about the impact of bias on decision making. One way to do so is to learn different mental models and be less certain at the outset, until you have complete information.
- Prediction based approach: collect data and understand how frequently and widespread a particular condition might be.
I’ve found helpful in the past (though I don’t do it nearly enough) to have an assumption log. This is where I would write down my key assumptions and judgment (my gut feels) factoring into a decision. At a later date, when the outcome is known, I can check my assumptions against reality and adjust for the future—incremental, compounding improvements.
For example, most creatives and founders will have experienced the want to stop because it doesn’t seem like things are working. In this instance, set checkpoints that allow you to decide whether to continue. A good maxim to follow (see graphic, source):
Don't stop working before it starts working
This week on Fringe Legal Edge, I spoke with Victor Tamayo. Victor is an exceptional sales engineer at Litera, who frequently shares multiple dozen projects at any one time.
During our chat, we went through a project’s lifecycle to understand how to select/prioritize projects, engage stakeholders, keep momentum with the users, and plan for success with adoption/training efforts.
I posted a short review of On Legal AI by Joshua Walker over on LinkedIn.
If you’re looking for a book that provides a real account of the state and AI’s potential future, this should be on your list. It’s a mix of foundational knowledge, relevant examples, and practical advice.
Oz Benamram, Chief Knowledge & Innovation officer at Simpson Thacher, put out a call for speakers for what seems like a fantastic peer-to-peer event that’s been running for over a decade: Strategic Knowledge & Innovation Legal Leaders’ Summit (“SKILLS”).
The event is in on January 22nd, 2021, and speakers should apply by November 6th, 2020.
In researching to find illustrations of decision making frameworks, I came across the Twitter account of Visualize Value.
It is exceptional - they take seemingly complex concepts and provide simple visuals (the two images in the ‘Think’ sections are from their feed). If you’re looking to explore, a good starting place is with their thread on the top 10 concepts.
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