The Project Interview
Project Magazine, April 2013
5 Pages Posted: 17 Mar 2016
Date Written: February 26, 2013
In an interview with Project Magazine, Bent Flyvbjerg describes the challenges, causes, and cures of risk in major project management. Main challenges identified are benefit shortfalls, cost overruns, and schedule overruns. Root causes of risk are argued to be optimism bias and strategic misrepresentation. Finally, reference class forecasting and incentive alignment are presented as effective cures that will help major projects succeed.
Keywords: Major project management, project management, benefit shortfalls, cost overruns, schedule overruns, optimism bias, strategic misrepresentation, reference class forecasting, incentive alignment
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