Optimism bias and cost overruns

Toward a Deeper Understanding of Optimism Bias and Transport ...

This article provides a timely review of literature on optimism bias and transport infrastructure project cost overruns. The article identifies ...

The Influence of Optimism Bias on Time and Cost on Construction ...

In this paper, we consider the psychological effect, namely optimism bias, as one of the root causes for delays in cost overruns on projects.

Toward a Deeper Understanding of Optimism Bias and Transport ...

This article provides a timely review of literature on optimism bias and transport infrastructure project cost overruns.

How Over-Optimism Leads to Project Failure - Procurement Office

Psychological explanations account for cost overruns and benefit shortfalls in terms of what psychologists call the planning fallacy and optimism bias. Such ...

(PDF) The Influence of Optimism Bias on Time and Cost on ...

Several gaps exist in the identification of root causes of cost overruns. Behavioural science academics advocate political and psychological explanations as ...

The Dangers of Optimism Bias in Establishing Budgets for ... - LinkedIn

Optimism bias has contributed to some of the most notorious construction project failures, both public and private. Cost overruns and schedule ...

Reducing risks in megaprojects: The potential of reference class ...

Large infrastructure projects often suffer from cost and schedule overruns, mainly due to optimism bias and strategic misrepresentation. Reference class ...

Why Optimism Bias is an Olympic-Sized Problem - Procurement Office

Jennings noted that the concept of “optimism bias” is often used as an explanation for cost overruns, since public institutions are overly optimistic about how ...

Optimism bias and cost overruns: experimenting on the internal and ...

This research shows the relevance of experimental methods in project management, unveils new relationships between different perspectives in the project ...

HS2 reveals optimism bias in government decision-making

Considering the budget underestimates and cost overruns associated with the public financing of high speed rail in the UK, Cahal Moran and ...

updating the evidence behind the optimism bias uplifts for transport ...

Reference Class Forecasting (RCF) is an established method for accounting for the systematic underestimation of cost and schedule overrun in projects.

Out of the frying pan, into the fire. The flaws of Optimism Bias

Significant cost and schedule overruns become normal. Project leaders and investors are facing underperforming capital projects. 50% delays in project execution ...

4 ways to tackle optimism bias - APM

This commonly manifests in the form of cost and schedule overruns and the erosion of benefits realised versus planned. Although it can be ...

A Guide to Reducing Optimism Bias in Construction Project Planning

Concluding, cost overruns and delays in project management are significant issues that have been persisted over many decades. While there has ...

Optimism Bias and Strategic Misrepresentation: The Overly ...

Flyvbjerg's extensive research on over 16,000 projects across 136 countries reveals that 99.5% of megaprojects face delays, budget overruns, or ...

Step six: assess risks and adjust for optimism bias - Finance-Ni.gov.uk

It may occur, for example, through failing to reflect fully the chances of cost underestimation or time overruns; or by including projections of demand that are ...

Optimism Bias: What It Is, How It Affects You | by Bent Flyvbjerg

In planning and management, an optimistic cost or schedule estimate will be low, leading to cost and schedule overrun. An optimistic benefit ...

Optimism bias and cost overruns: experimenting on the internal and ...

Optimism bias and cost overruns: experimenting on the internal and external views in resources and time estimation. Giuseppe Sassano Bsc, MSc.

Toward a Deeper Understanding of Optimism Bias and Transport ...

There is a growing face-value acceptance of optimism bias as the primary cause of transport cost overruns. This article provides a timely review of ...

An Explanation for Social Infrastructure Project Cost Overruns

Moving Beyond Optimism Bias and Strategic Misrepresentation: An Explanation for Social Infrastructure Project Cost Overruns.