The Project Interview

Project Magazine, April 2013

5 Pages Posted: 17 Mar 2016

See all articles by Bent Flyvbjerg

Bent Flyvbjerg

University of Oxford - Said Business School

Date Written: February 26, 2013

Abstract

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

Suggested Citation

Flyvbjerg, Bent, The Project Interview (February 26, 2013). Project Magazine, April 2013. Available at SSRN: https://ssrn.com/abstract=2742301

Bent Flyvbjerg (Contact Author)

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

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