Developer Tea
Backup Plans and Risk Reward Curves
- Author: Vários
- Narrator: Vários
- Publisher: Podcast
- Duration: 0:13:50
- More information
Informações:
Synopsis
This episode focuses on the critical importance of having a backup plan, not just for technical redundancies but especially for situations involving human error, which are highly prevalent in one's career. The core argument hinges on understanding risk and reward curves, highlighting the disproportionate impact of failures compared to incremental successes.Understanding Risk and Reward Curves:Successes are often incremental. Delivering a project on time typically leads to opportunities for more projects, good performance reviews, and modest pay increases (e.g., 5-7%). These are positive, but linear or slightly bumpy gains.Failures, especially uncaught ones, have a much longer negative tail. The potential for loss from a significant mistake or a disastrous project significantly outweighs the potential for gain from a success.A bad performance review, for example, can affect future reviews, decrease promotion likelihood, and follow you for a much longer period than a good one.Uncaught failures can place individ