Living Well - Succeeding Big: 3 Lessons from Charlie Munger

The video discusses Charlie Munger, Warren Buffett's business partner, and his insights on project management. Munger's concept of 'elementary worldly wisdom' involves mental models that aid in problem-solving and career advancement. His speech at USC Law School offers pragmatic advice, emphasizing thinking backwards to solve problems, reliability, and diligence. Munger's approach is practical and applicable to project managers seeking success.

Who is Charlie Munger's famous business partner?

• Jeff Bezos

• Warren Buffett

• Bill Gates

• Elon Musk

What is the key idea behind Munger's advice on problem-solving?

• Consider reversing the problem to find solutions

• Think about problems only in a forward direction

• Avoid complex problems

• Always follow the rules

According to Munger, what can cancel out all of your other virtues?

• Lack of creativity

• Unreliability

• Overconfidence

• Procrastination

What does Munger suggest is essential for project managers to deliver on?

• All of their promises

• Innovative ideas

• High profits

• Team harmony

What word does Munger use to describe the discipline needed to complete tasks?

• Efficient

• Flexible

• Creative

• Assiduous