To overestimate is to assign a greater value, amount, or size to something than is actually the case. It involves making an assessment that is higher than the actual or true value. This can apply to various scenarios, from judging a person's abilities to predicting the outcome of an event or the cost of a project. The consequence of overestimating can lead to wasted resources, misjudgments, and disappointment. It often arises from biases, wishful thinking, or a lack of complete information. It contrasts sharply with the concepts of underestimation or accurate assessment.
Overestimates meaning with examples
- The project manager overestimates the team's ability to complete the software by the end of the month, disregarding the complex dependencies involved. This leads to missed deadlines and the need for costly extensions. The optimistic schedule was driven by a lack of realistic assessment of the resources required.
- She overestimates the value of her antique vase, expecting to receive a much higher price than the market is willing to pay. Consequently, the item stays unsold for a long time. Her emotional attachment blinded her to its actual commercial worth, and the true value in relation to similar items.
- Investors overestimates the company's potential, fueling an unrealistic stock price bubble. When the company underperforms, the stock plummets, causing significant financial losses. Their belief in the future prospects were not grounded in the realities of the current market position and its position in the sector.
- A teacher overestimates the students’ comprehension of a complex concept, proceeding without adequate review. This results in widespread confusion and poor test scores, indicating a need to recalibrate their approach to education and student needs.