Which one of the following best illustrates an error which you, as a project manager, might make due to confirmation bias?
1) overestimating the best outcome expected from a project while underestimating the possibility of a less favorable outcome.
2) assuming that a new project will be profitable since similar projects in the past were successful.
3) assuming that your expectations of the future outcome from a project are more accurate than the expectations of others within your organization.
4) listening to the advice of subordinates with whom you agree while ignoring the advice of subordinates with whom you tend to disagree.
5) downplaying the cost of future failure of an existing project since the project has already paid for itself.