Excellent article. I have a degree in Operations Research, and I have always puzzled at the common inclination to maximize utilization, as if knowledge workers are line workers in a production line.

Today companies are often more concerned with market share than they are with efficiency - yet middle and lower managers strive to maximize utilization because the incentives are wrong and there is the wrong kind of leadership at those levels.

One of the principles of Agile 2 is "Don’t fully commit capacity". This article explains the reason for that, in a cogent and analytical way. Well done.