How many pizzas would it take to feed your investment committee?
Optimal committee/team size is a great question: NEPC’s survey finds most investment committees are 7+ people, but would prefer to be 4-6.
Across domains, in agile development guidelines for scrum teams say 5-9.
And Jeff Bezos famously said that 2 pizzas needs to be enough to feed any meeting room.
So what is the right size for an investment committee? Tweet me with thoughts.
Postscript – diversity, accountability and other factors are in practice possibly as least as important as size in team effectiveness. A lot of the reasons for this are covered by Cass Sunstein and Reid Hastie’s excellent book wiser which I summarised here. I also write more about designing governance systems for investing to try and address some of these challenges here.